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CII congratulates industry players for producing own apprentices
The Chartered Insurance Institute has praised major players in the insurance industry that it claims promote and deliver apprenticeships.
A growing number of insurance companies, including RSA, Equity, JCB Insurance Services and Direct Line, have enrolled staff in apprenticeship programmes, taking advantage of the financial benefits of apprenticeships that allow them to maximise their training budgets.
Caspar Bartington, CII relationship manager for further and higher education, said: "As another television series of The Apprentice finishes, the story has only just begun for apprentices working in the financial services sector. Major employers are now reaching out beyond their existing pool of talent.
"In addition, these apprentices see the job on offer - together with the high quality training and support that comes with it - as giving them the keys to further their career development. It's really no surprise that so many people around the country are waking up to apprenticeships."
At JCB 10 members of staff have completed the certificate in insurance as part of the apprenticeship during the last 12 months.
Tracey Thompson, commercial director, said: "They have added value to our business as well as our employees. JCB will continue to support the scheme as an important part of each individual's training and development and a recognised insurance industry qualification."
Emerging skills shortage sparks industry talent search
Professionals within the London insurance market are taking steps to avert a looming skills shortage, according to a new report published by the Financial Services Skills Council.
The research, based on interviews with senior London market figures, found that practitioners, industry and professional bodies now feel under increasing pressure to promote the sector as a rewarding place to work.
"Talent is one of our industry's top priorities and we are seizing the initiative with schemes such as online careers advice, leadership development programmes and the Lloyd's graduate scheme," said David Gittings, chief executive officer of the Lloyd's Market Association and chairman of the FSSC London market sector advisory group.
However, he warned that more investment was still needed to attract the right talent to the sector, adding: "'Wholesale insurance is a relationships business. Training has tended to be rather informal and the industry now needs to invest further in its people."
Firms are working to close a promotional gap in careers advice at schools, colleges and universities, which is resulting in an undeservedly poor reputation for the sector.
The report, London Market Skills Review, was prepared by the FSSC for its London market sector advisory group and builds on the findings of Skills Review: UK Wholesale Financial Services. This earlier FSSC report, requested by the Chancellor's high-level group in 2007, warned that the wholesale insurance industry in the UK faces a number of unique challenges.
In her preface to the new report, Economic Secretary to the Treasury Kitty Ussher MP said: "Notably, it is important to ensure that UK students, at both schools and higher education institutions, are made aware of the skills they will need to develop in order to gain employment in the wholesale insurance sector.
"This is an issue common to many parts of the financial services industry and addressing it will require a high degree of collaboration between industry and bodies like the FSSC."
"The council has a two-fold role to play, guided by the FSSC London market sector advisory group," added FSSC CEO Teresa Sayers. "Firstly, we can work with the industry to develop much-needed career paths, supported by robust standards. Secondly, we can help the industry to evolve a skills offer that meets employers' needs."
Under-30s bemoan youth being wasted by work
Around 90% of UK employees in their 20s are working long hours at the expense of their homes lives, according to research by American Express Insurance Services.
Just under half (44%) of people in the age bracket complained they do not have enough time to themselves, compared to a quarter (26%) of people over the age of 50.
American Express Insurances Services asked a sample of more than 2000 UK people what they find themselves too busy to do in their day-to-day lives as part of a wider probe into the busy lives of modern workers in the UK.
The survey found keeping fit was the first thing to slip off the list for young people, with nearly half revealing their exercise regime stops when their working hours start to clock up.
The survey also found pets were likely to suffer as a result of long working hours - approximately 13% of people are more likely to stop or curb time spent walking their dogs if they are busy at work.
Beating the 34% national average, 45% of young people said they do not have time to cook meals from scratch because of work demands on their time.
Nearly a third admitted to being too busy to sort out their finances or check their bank statements and the same amount said they could not spare the time to research pension schemes or plan for their financial future.
Around 21% more young people than the national average said they had difficulty finding the time to keep in touch with their friends (50% versus 39%) and 42% said the same of arranging time to see their relatives.
- Source: Post Online
