Andrew Holt looks at how the interest in learning from brokers and insurers has boosted the number and range of courses available
The insurance industry faces many training and development challenges, and different organisations are looking to deal with these in diverse ways that benefit the individuals involved and the market as a whole.
One positive development is that the demand from insurers, advisers and brokers for more technical training has led to a boost in the number of CII training courses that will be on offer this year.
Steve Wellard, CII director of communications, says: "We have increased the number of individual courses and revision sessions available to over 600, an increase of 180 new course sittings at our Fenchurch Street training suite and the Lloyd's Training Centre."
The increase in demand for training courses comes off the back of usual factors such as regulatory business, but also from customer pressure to deal with competent and trusted professionals.
Technical courses
To deal with this pressure the CII has enhanced technical courses such as property risk assessment and surveying, and business interruption.
This is as well as training in the areas of compliance, regulation and skills to support on how to run a business.
In addition to the 600 open courses which are available for anyone to attend, the CII also provides a bespoke in-house service to companies requiring tailored training programmes at their premises.
In addition, the CII has introduced a job role and competency framework to support all those working in the insurance market.
It aims to help organisations and individuals determine what knowledge and skills are required in the work environment, achieve regulatory compliance, and promises to benefit those working at all levels in underwriting, broking, claims and in the London market.
This support framework highlights the minimum levels of competence for job roles in the key areas of the market. It identifies core competencies, skills and capabilities needed at varying levels of responsibility.
Critical standards
Fiona Andrews, CII market planning manager, general insurance says: "Every organisation is different. So is every employee. But certain key-critical standards of competence apply to all.
"To succeed, each employer, and each member of staff, must be able to measure their standing relative to these benchmarks.
"Core competencies are integral to commercial success and regulatory compliance.
"Never has it been so important for individuals to demonstrate their expertise and professionalism."
Not to be outdone, the Financial Services Skills Council (FSSC) is looking for employers to get involved in a project to develop the new business, administration and finance specialised diploma for 14 - to 19-year-olds.
This will be one of 14 specialised diplomas corresponding to key sectors of the economy, including insurance, which aim to enable students to follow a curriculum closely aligned to the employment needs of the sector in question.
In turn, this project aims to give employers confidence that new recruits are equipped with the relevant knowledge and skills to make a positive contribution to their businesses.
It seems such a foundation is needed, as a study by the CII revealed a worrying talent gap of those coming into the industry.
The research showed that 75% of insurance company recruiters said they find it very hard to recruit the level of talent they believe the company required. And 90% of students said they would not even consider insurance as a career.
But Jamie Heath, CII director of strategy and change, is upbeat despite these findings. "Perceptions can be changed. The industry should work together on common issues and senior management should be involved," he says.
Record numbers
And on the first anniversary of the introduction of statutory general insurance regulation, the Institute of Financial Services reported that it has had record numbers of women registering for its Certificate in Regulated General Insurance (CeRGI).
The almost 2,000 registrations from women for this single-module, self study qualification represent about 40% of the total number of candidates.
"Our distance learning programmes and easy-to-use study materials make professional qualifications accessible to all," comments Mark Roberts, head of faculty financial regulation at the Institute of Financial Services.
More representative
"In an industry that has been traditionally populated by men, it is refreshing to see that the balance is now changing and that the industry is becoming more representative of society in general."
The regulation of general insurance activities requires that employers and individuals have in place suitable competence and training arrangements for those who carry out regulated activities.
The resulting message is simple: there is no excuse for not getting more training and developing your career further.
