’This plan lays out a bold vision,’ says chair

Developing new products and addressing legacy systems issues are among plans The Chartered Insurance Institute (CII) has as part of its new five-year plan.

The plan, which was released today (20 April 2023), contained six strategic themes and was broken up into two phases.

The first will focus on addressing legacy systems issues, “returning the CII to a surplus position after the pandemic and building strong foundations for the future,” a statement said.

The subsequent phase, from 2024-2027, will see the institute develop products and services aimed at “stimulating interest” among others to join the insurance, financial planning and mortgage advice professions.

CII chief executive Alan Vallance said: “I am delighted to announce this new plan and the detailed set of actions we will be taking over the next five years to achieve the institute’s mission – ‘to educate and support our members to deliver services to the highest professional standards and to advocate for the public good’.

“We are an international organisation, with members living and working in more than 150 countries around the world.

“Our vision is to ensure we help them in every way possible to build a world which delivers ever greater financial resilience for individuals and societies more broadly.”

‘Bold vision’

A statement said the plan will support the group of companies that make up the institute.

This includes its two professional membership bodies – the CII and PFS – and their ”unique member proposition that encompasses ‘credibility, community and career’”, it added.

Dr Helen Phillips, independent chair of the institute, said: “This plan lays out a bold vision that will see the institute’s position as a global professional membership body cemented, financial reserves restored following the challenges of the pandemic and the latest IT systems and services delivered to support our more than 120,000 members wherever they work and whenever they need them.”