People might not immediately associate the insurance industry with apprenticeships. How long have CII members been taking on apprentices?
Apprenticeships containing insurance qualifications have been available for a number of years now. Traditionally they have been a relatively untapped resource by insurance companies – however this is rapidly changing. Bluefin is probably the best-known employer of technical apprentices, having won several awards in this area in recent years. It is far from being the only player in this area, and in the last two years we have seen a rise in apprentices in the London Market – Barbican, Chaucer and Lloyd’s of London – with more likely to follow.
How many apprentices do CII members have now?
The
CII’s annual skills surveyfound a rise in awareness among employers of apprenticeships (67% in 2013 – up from 46% in 2009) and an increase in willingness to take one or more on (53% in 2013, up from 41% the previous year). 2012 saw the number of technical insurance apprenticeship starts (those including CII professional qualifications) break the 1000 barrier for the first time. And of course there are many other apprenticeships in the insurance sector of a non-technical nature.
What are the benefits of having an apprenticeship scheme?
Apprenticeships provide funded learning and development for both new and existing staff, with extra incentives available to small businesses. They enhance a firm’s ability to build a structured talent pipeline that in turn supports the creation of the next generation of talent for insurance and financial services. As well as bringing in new blood, they are also valuable in developing existing staff. The inclusion of professional qualifications provides a strong foundation for the apprentice’s future career. Importantly these benefits apply to companies of all sizes, large and small. This is crucial when companies are changing how they recruit.
The Treasury’s Insurance Growth Action Plan set a target for insurance to double the number of technical apprenticeships over five years. How realistic is this goal?
The CII was pleased to see the inclusion of apprenticeships as part of the Treasury’s wider challenge around attracting high quality talent into the industry. Ensuring insurance has the right people with the right skills is a big issue for us all – especially in the face of increasing global competition. We simply cannot afford to stand still. Equally, it is important that we are an accessible sector.
As well as changing attitudes within insurance, there is a job to be done to ensure that students, parents and those providing careers advice see apprenticeships as a viable alternative to university and as way of developing a professional career. The way to achieve this is through advocacy and our
Discover Riskinitiative provides opportunities for current and former apprentices to highlight the benefits to those in school and colleges.
The challenge set in relation to apprenticeships is a testing one but, given the current direction of travel and enthusiasm for apprenticeships, one that is achievable. It will help provide a focus for the whole sector to invest in the technical skills needed for the future.
How are apprenticeships in insurance structured? What are the practical and learning aspects?
At present apprenticeships in insurance, like many other sectors, contain four elements that can be tailored to the varying needs of a company. Those elements are: technical knowledge via a professional qualification; a competence qualification based on National Occupational Standards; core skills, including maths and English; and employer rights and responsibilities.
It is often more complex for small firms to take on apprentices – what guidance can CII provide to its smaller members?
The CII offers information and support for employers in a number of different ways. We have
published a guide to getting started for our members, which provides step-by-step advice for firms of all sizes and has proved hugely popular. We also offer help those employers who want to take on an apprentice but are unsure about how to go about it, including identifying a suitable apprenticeship provider. Apprenticeships are a great help to those small firms who do not have a learning and development function as providers deal with the paperwork on their behalf.
We are also pleased that the apprenticeship trailblazers, announced at the end of last year, provide the opportunity for all employers to play a role in developing future standards. The CII has produced a
guide for members on the trailblazer process.
In what ways is CII getting the message about apprentices out to its members and the sector as a whole?
The CII continues to promote apprenticeships, not only to the firms who might employ an apprentice but also to those who might one day become an apprentice. Our award winning Discover Risk campaign provides a powerful tool in introducing young people to the careers on offer in insurance and financial services, including apprenticeships.
The provision of guidance, such as our guide to getting started, gives members practical support, whilst events, articles and case studies help to inform those who might not be familiar with the benefits apprenticeships can bring.
In response to the Treasury’s call to arms we are also working in collaboration with Aon, the ABI and BIBA to further raise awareness, including an event to celebrate apprenticeships in insurance on 3rd March. This will be attended by Skills Minister Matthew Hancock, high profile figures from the world of insurance and, importantly, current apprentices. We believe that this will be the platform for a real focus on apprenticeships by our sector as part of a wider focus on skills and talent.
Dr Sandy Scott, Chief Executive Officer, Chartered Insurance Institute