Associate in Insurance Accounting and Finance (AIAF)
Definition - What does Associate in Insurance Accounting and Finance (AIAF) mean?
Associate of Insurance Accounting and Finance (AIAF) is a title given to someone who has passed a series of exams on insurance accounting and finance by the Insurance Institute of America. Those who undergo a program for the title are expected to know the basics of accounting and insurance.
Insuranceopedia explains Associate in Insurance Accounting and Finance (AIAF)
Financial statements produced by insurance companies are scrutinized thoroughly by regulators. Therefore, the ones who prepare them, the accountants of insurance companies, must do their job with the highest level of proficiency so that they won't compromise the reputation of the insurance companies that they are working for.
One way of doing that is joining an AIAF program of a reputable insurance training school. They are going to be trained in these very important areas of insurance accounting and finance: insurance company operations, insurance information systems, statutory accounting for property, and liability insurers, among others. These areas are also going to be covered in four examinations they have to pass in order to be conferred with the AIAF title.