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Press Release
CFP Certificate Becomes Famous in Insurance Business
18 February 2009
Recent 14 tests had 2,496 applicants... Increased drastically, more than double in recent 3 years. "Professional certificate is the asset"
[]   Recently, more and more people have tried to obtain certificates to prepare for an unstable future in the aftermath of today’s economic slump.
However, not every certificate is a great advantage.
In these ‘Red Ocean' society, one can’t survive with common certificates. As a result, Certified Financial Planner (CFP), one of the competitive ‘Blue Ocean’ certificates, has gained a lot of attention.
In this regard, we analyzed applicants and successful CFP certificate holders in Korea during 2006-2008.
The results are as follows.
▲In 2006 (9th • 10th), 535 successful applicants (total applicants 2496) ▲In 2007 (11th • 12th), 722 (total 3336) ▲In 2008 (13th • 14th) 1146 (total 4792).
We can easily see that the number of applicants and successful certificate holders has doubled, particularly in the last 2 years.
This fact implicates that as things get more difficult, professional certificates such as CFP act as a strong background or foundation for successful employment.
Another reason is the increase of financial customers’ level of needs.
As a result, insurance, bank, and securities businesses have encouraged employees to obtain CFP certification.
This proves that they regard the CFP certificate as a ‘competitive edge in today’s economic slump’.
The CFP pass rate among the top 10 employees in insurance business is also noticeable.
So far, PBs of bank and securities business have occupied most of the top 10, but the top applicant in the latest (14th) CFP belonged to Mirae Asset Life Insurance.
After analyzing the insurance companies to determine which company produces the most 'Top 10 successful applicants’, Prudential Life Insurance of Korea was shown to be the leader with 6 successful applicants.
Next in line were AIG, Met Life, and ING Life with 3 successful applicants each. Hyundai Marine & Fire Insurance and Allianz Life produced 2, and Samsung, Tong Yang, Mirae Asset Life, and Dongbu Insurance each produced 1 successful applicant.
According to an insurance business official, "VIP customers determine the ability of a financial company based on the existence of competitive consultants,” and “for this reason the importance of a financial planner with comprehensive consulting capacities, such as CFP certification, is increasing."
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