Insurance industry risks skills shortage if ‘not bothered’ about Burnham’s school plans

The insurance industry risks a continuing skills shortage if it is “not bothered” about making the most of working with schools under Andy Burnham’s devolution plans.

That was according to Crescens George, chief executive at Wiser Academy, who questioned whether insurance firms will “care enough” to be at the table.

Burnham is a supporter of devolution and made clear that he wanted to change the Westminster-centric system of government to make more people feel connected to decision-making.

As part of Burnham’s devolution plans, he unveiled a change to the education system that will see schools adapt their curriculum to the needs of local businesses.

From the age of 14, students will have the chance to combine core academic subjects with a technical education that is linked to the jobs available in their area. They will also be able to spend time with employers.

George said that while “a lot” of employers will take up this opportunity, he questioned whether the insurance sector would – and warned of consequences if they chose not to.

He told Insurance Times: “Schools will now open doors for employers to engage with them and colleges as well.

“A lot of employers will absolutely take the opportunity and start working with schools and colleges. The question is, will the insurance sector be bothered to turn up?

“If not, we will just stand and watch this evolved skills agenda take shape, we will still be talking about a skills shortage [and that the industry] can’t attract people.”

‘Fight for insurance’

According to Gallagher Bassett’s The Carrier Perspective: 2026 Claims Insights report, published in April 2026, 22% of UK insurers have identified talent attraction and retention as the top business challenge in 2026.

And during Insurance Times’ Destination Insurance event in January 2026, Caroline Wagstaff, chief executive at the London Market Group, said hiring data showed that while the London market employs around 65,000 people, it only hires roughly 1,200 young people each year.

George said the industry should “really work hard and fight for insurance and wider financial services to be one of the key top subjects within the curriculum”.

“What may start as some voluntary and formal activities can be solidified under the V-level qualifications heading and we can introduce insurance to 14-year-olds [and up],” George said.

“Then insurance will become a choice, a subject option for GCSEs or even A-levels.”

Fresh partnership

George also called for the industry to act on the prime minister’s intent for a fresh partnership between government and business built around a shared ambition to drive investment and grow the economy.

With insurance firms usually firmly involved in the communities they are based in, it follows that they should play a key role in shaping local plans.

George said: “I see some really forward-thinking businesses with greater vision – they will grab this opportunity and be at the table.

“We are asking the question – will smaller to medium broking businesses and other insurers care enough to be at the table?

“That is the biggest question. If they are at the table, your voice will be heard, your inputs will be valued and your ideas will be taken on board.”