Those executives entering the insurance industry are very poorly qualified in terms of their academic qualifications (see table J). A minority of respondents gained college or university qualifications. Of those having insurance specific qualifications (31 percent of respondents), the most common are as follows:

  • ACII (49 percent of respondents having an insurance specific qualification)
  • FCII (12 percent)
  • CIP (8 percent)
  • Part qualified ACII (6 percent)
Analysing the average basic salary of executives having a specific insurance qualification (average basic salary £32,800) versus those not having a specific insurance qualification (average basic salary £30,600), logic conveys that the qualification is worth an additional £2,200 to an employee's basic annual salary. Having a specific ACII qualification is worth an additional £5,800 to annual basic salary (average basic salary £36,400).

Qualification Percentage respondents having qualification (%)
HND 29
Undergraduate 8
Postgraduate 6
Other qualifications 11
Insurance specific 31