The Chartered Insurance Institute (CII) will change its rules in order to blow away its old-fashioned image.

People who have not sat CII exams will be allowed to become members following a decision made at the CII's council last week. President Lillian Boyle said the institute would be applying to change its rules so that so-called "student members" were allowed to join. The institute will apply to the Privy Council in order to change its rules.

It is understood the institute hopes to attract insurance industry workers in their 20s and 30s.

"We want the leaders of tomorrow to be a part of the institute today," said a senior CII figure.