Building the public's trust in insurance
The Chartered Insurance Institute launched its new manifesto this week, with newly appointed CEO Sian Fisher explaining it was putting trust at its heart.
The Chartered Institute of Insurance (CII) this week launched its new Strategic Manifesto, setting out a roadmap for the next five years on how it will modernise and work with the profession to build public trust.
The Manifesto outlines an internal change programme designed to ensure the CII is more relevant, modern and diverse following an extensive consultation with members and a strategic review supported by PwC.
Sian Fisher, Chief Executive Officer of the CII, urged those who came to the launch to join together and build the public’s trust in insurance.
She called for the wider professions’ support for the programme of change. “We all know insurance is a force for social good. Along with education and medical care it is one of the three great empowerers of all our lives.
“The public believes two of these are provided by professionals. They don’t think this about insurance today. This is a challenge but also an amazing opportunity for all of us. Join with the CII on a shared journey to build a proud profession. And together we will build public trust.”
Conservative MP Craig Tracey, who worked in the broking industry for over 20 years and chairs the All-Party Parliamentary Group on Insurance, welcomed the move by the CII.
He branded it “fantastic” that they are seeking parity with other professions.
The CII will upgrade its technology, website, office environment, products and processes, to ensure it keeps pace with the needs of the modern workforce and customer base. The institute will also expand its international reach with employees, employers, regulators and the public, as it believes trust does not stop at the UK’s borders.
Mr Tracey added: “I have seen first-hand the difference that having a trusted industry and access to properly trained personnel can make. Technological advancements have drastically changed the insurance landscape and reduced the amount of personal contact many people have with their providers. We need to ensure that the new era of consumers still have access to great professionals across all levels of insurance, from application to when the worst happens and claims need to be made.”
The programme is built around a series of customer propositions including developing talent with the ‘classroom to boardroom’ initiative, increasing international presence through the ‘great big world’ programme and Choose Chartered.
John Moore, CII President said: “My dream is to see insurance professionals achieve parity of reputation with established professions. To achieve this, we must prioritise competence, integrity and above all – our clients’ interests. ‘Choose Chartered’ is a vital strand of our manifesto and will be a key part of building public trust in the profession.”
Ms Fisher added: “We can’t build public trust on our own. We need to work together with our fellow professionals. We all know that being a professional builds trust. Competence, integrity and care for the customer. It’s about behaviour not words. This is why we can be one profession. It doesn’t matter which insurance tribe we belong to – a professional is the same. The power of professional standards is the same. The public doesn’t see the tribe – they see the profession.”
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