Member News
11th February 2011
As the government renews its commitment to supporting businesses during national apprenticeship Week, the Chartered Insurance Institute (CII) has called on the general insurance sector to take advantage of the support and funding offered for apprenticeships.
Though traditionally insurance is not a profession automatically associated with apprenticeships, more and more companies realise the benefits the programme brings. Caspar Bartington, education relationship manager at the CII, points out that: "Apprenticeships are a positive way forward for long-term development within the general insurance sector. Organisations should explore what is available to them to assist their business, both financially and more importantly in respect of learning and development. According to the government's National Apprenticeship Service, 81 per cent of consumers favour using a company which takes on apprentices. This is a clear indication that, as well as the obvious benefits in gaining a skilled employee, small and medium-sized brokers can benefit commercially from taking on apprentices."
And with university fees and student debt set to rise over the coming years, more and more young people will consider an apprenticeship – increasing the talent pool for employers to draw from.
Those insurance companies who have taken on apprentices and are reaping the benefits are keen advocates of the programme.
Stephanie Willbond-Hill, HR and training manager at Miles Smith, an insurance brokerage with a staff of 110, including 11 on the apprenticeship programme, says: "Companies should not be blinded by the historic branding of apprenticeships. Given the funding now available, and the wealth of talent attracted to a career in insurance, all companies should be exploring the opportunities open to them in staff development."
Apprenticeships offer the general insurance sector a number of benefits:
- By training staff using the structure of an apprenticeship an employer retains control over development, whilst ensuring it is consistent with the company's working style.
- If all of the criteria are met, the government will meet training costs, which can include the tutor's time and administration costs, examination fees and study material. As a ballpark figure, this can be around £2,500 for all training.
- By using the apprenticeship programme, brokers can extend their training budget into other areas. For example, employers who take on a 16-18 year old apprentice only pay their salary. The government will fund their training. This saving can be passed on to support senior colleagues who may require a skills refresh.
- Traditional "on-the-job" training can be limited, as the trainee fails to learn about the broader context of insurance in their role. With an apprenticeship, there are fewer gaps in training, as the candidate brings context to their work from their tutored study.
- Apprenticeships provide novice employees with a solid base to build upon in their introduction to the insurance world. It gives them an understanding of the basic tenets of insurance, and the opportunity to enhance this knowledge in a structured manner.
- Apprentices recognise the increased level of confidence that tutored learning gives them in their job. They have the opportunity to ask questions and review issues, and the tutor monitors them to ensure they are progressing at the right pace.
- Apprenticeships are more than technical teaching, as tutored learning enhances soft skills that are crucial when communicating with clients and colleagues.
- Apprentices at Miles Smith work towards an Intermediate Level Apprenticeship or an Advanced Level Apprenticeship. The advanced level involves two CII exams, an NVQ and key skills training. Exams are worth 15 credits each and the NVQ is worth 10 credits, so the advanced level equates to the CII Certificate in insurance.
Employers can visit the CII website and the Discover Risk website for more information on apprenticeships in insurance and accredited apprenticeship providers.
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