MarketScout founded the Council for Insuring Private Clients (CIPC) to provide a venue where agents and insurers may collaborate on how to better serve their private clients. Insuring wealthy individuals is a unique, specialty area of the insurance industry and until now, there wasn't a forum for sharing ideas and perfecting skills. The CIPC will focus on implementing best practices and risk management techniques for insuring the personal assets of private clients. Any agent or insurer with a focus on insuring high net worth individuals may join the CIPC.
Insurers AIG and Chubb are Strategic Partners of the CIPC.
The annual CIPC Conference provides attendees the opportunity to network with high net worth insurers, agents, investors and others involved in the high net worth space. It will also focus on specific presentations designed to improve the art and science of insuring private clients.
In 2012, the CIPC made plans to develop the educational programs required for an individual to obtain a new designation, Certified Personal Risk Manager (CPRM). The CPRM designation program is specifically designed for the high net worth insurance industry. In May 2014, the CIPC, in collaboration with The National Alliance for Insurance Education & Research announced the development of the Certified Personal Risk Manager (CPRM) Program. The purpose of the CPRM program is to train the insurance and risk management communities to better serve the high net worth and affluent client base. The program's five major areas of emphasis will include personal risk management, insurance coverage differences, evaluation and protection of the lifestyle, the practical application, and management of the business of high net worth and affluent clients.
The future direction of the CIPC will be built on a collaborative platform with all members having a voice in how we work to improve the private client insurance industry.