The CII's star-studded underwriting and risk faculty will help members tackle professional issues and seek out future leaders Elliot Lane reports.
The CII's latest addition to its plethora of industry faculties, the underwriting and risk faculty, has a star-studded cast.
Against the usual stereotypical, stuffy committee image surrounding professional bodies, the faculty line-up inspired one underwriter to dub its members the "Ocean's Seven" of the insurance industry.
Unsurprisingly, and wisely, the underwriter wished to remain anonymous and many would suggest he gets out a bit more, but its seven members are names respected in the market (see box).
Their remit will include the practicalities of the business and reviewing its professional standards such as underwriting, pricing, risk modelling, risk management/control/surveying, reinsurance, marketing/sales, compliance and audit. But its members will also help spearhead the CII's talent taskforce which hopes to encourage and nurture the chief executives of the future.
The man given the task to co-ordinate the way in which the CII champions professional development is Lee Gladwell, its new group sales and marketing director.
"These faculties will help our members to deal with some of the crucial issues surrounding their day-to-day workings. For example, the London market faculty is helping members tackle the contract certainty issue.
"The CII is a strong brand and highly trusted. We can a lead on all these issues, we have good contacts with the marketplace and receive great advice.
People trust us because they know this is not a corporation with vested interests, we come at it from a professional body perspective," he says.
He says because the FSA regulatory regime is principle-based it gives a fillip to the CII's role as a professional body and "interpret what those principles mean and how to implement them in a commercial environment".
This is a key area for professional development in the near future, how the industry can navigate through the TCF principles and conflicts of interest. The CII broker survey, commissioned by Oracle, published last month showed that 63% of UK brokers believe they have always treated the customer fairly though 43% of the brokers surveyed felt there is need to make the industry more professional.
"We need to become more relevant. In the next year we must communicate more the actual benefits CII membership can bring. It can help people identify the right roles they need to further their careers in the industry, we can describe and analyse the right knowledge and skills members need to become more professional in their jobs. Help train, not just through books, but online and through training days and events plus free research through our research department.
"If you join the CII it gives you an advantage in your career and your professional development. It is not just about letters after your name," Gladwell adds.
Though in fact Gladwell is a FCII and has dedicated much of his own career, through Commercial Union, AXA and Capita, to acquiring further skills.
International aspirations
Singapore and Dubai have seen CII operations open in the past two years and these will be used as stepping stones for further expansion in the territories of India, China and Hong Kong. Of the CII's 90,000 members, around 10,000 of that number are international.
CII director of communications Steve Wellard says: "Interestingly the high level exams are being embraced by India and China, with more Fellows graduating in China than any other place in the world."
Gladwell puts it succinctly: "This industry has two things: people and data. That's it. Its true asset is the people. We must keep attracting talent and establish the training and skills which makes this a profession not just an industry."
Who are the industry's 'Ocean's Seven'?
- Mark Cliff, distribution director, AXA Insurance
- Sid Gibson, underwriting manager, NFU
- Chris Hanks, general manager commercial, Allianz Cornhill - Terry Hayday, technical executive, Lloyd's Market Association
- Brendan McManus, UK director, commercial, Royal & SunAlliance
- John Seaton, underwriting director, Norwich Union Insurance (not pictured)
- Alan Woof, chief underwriting officer, Zurich Insurance.
