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- Cincinnati Financial moves for Munich Re subsidiary MSP Underwriting expired
- IGI appoints Rix as Chief Actuary expired
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- Newslink Global Insurance Trends-The Week expired
19th September 2018
Newslink Interview:The Chartered Insurance Institute-a moving experience
The Chartered Insurance Institute (CII) moved this week from its long-term well-loved but outdated headquarters in London to a modern Lombard St office closer to the London Market and insurance trade associations. This move was first mooted in the CII Strategic Manifesto 2021 Road Map two years ago by the then new chief executive Sian Fisher, who had previously pursued an innovative and successful insurance career. Some eyebrows would have been raised regarding the move, but it was only a part of a longer term strategy aimed at raising the perception of the insurance industry by the public, business, potential recruits, and government/regulators.
Insurance Newslink last talked with Fisher shortly after the Manifesto was published, so we recently dropped in for a timely update on progress. Fisher and her growing management team have been moving at quite a pace. Just over a year ago, the CII refreshed its visual identity with a new tagline “Standards-Professionalism-Trust”- core objectives of the Manifesto.
A key element of the strategy revolves around the title “Chartered” for individuals and companies-last month the CII sought the views of insurance and personal finance professionals on the eligibility criteria, value proposition, process, and oversight, of the successful current Corporate Chartered proposition held by over 900 firms and divisions. On a personal level, the New Generation initiative has been well received-Fisher says that with more than 50% of new entrants to the insurance market now having university degrees, there is a “wellspring of desire for professionalism amongst the younger people and there is a hunger for the Chartered title”. In addition, there has been a minor increase in younger people completing the Fellowship. The CII is also continuing to work with Higher Education bodies and has also formed a Chartered Body Alliance with the Chartered Banker Institute and the Chartered Institute for Securities and Investment. Faculties are to be upgraded to Societies-the first announced this month was the Society of Insurance Brokers. Last month, the CII together with the Financial Conduct Authority (FCA) launched a series of UK-wide professional focus Continuous Professional Development (CPD) conferences for members-a growing trend to centralise more CPD development initiatives to support local institutes. The CII is also to hold two central Network Conferences next year.
Fisher highlighted the Future Horizons Initiative looking at, for example, Women and Insurance, Diversification and Exclusion, the impact of digitisation, and Global Horizon Scanning. Fisher has travelled widely and intends to spread the knowledge gained in the UK to key countries that are part of the CII family- particularly on such topics as customer interviews in collaboration with The Institute of Customer Services, and the CII Public Trust Index designed to measure consumer confidence in insurance, launched in July.
The ambitious Manifesto strategy is moving forward positively on all fronts.
CII Trends(255 articles)