The brand new Insurance Practitioner Professional Apprenticeship expected to launch in September 2016.
Historically Insurance, similar to the Legal and Accounting professions, was taught ‘at the desk’ supplemented by a technical examination framework which was optional and very much at the discretion of the individual to pursue.
Fast forward to 2016 and changes to the sector include the introduction of a minimum competency framework, new technology to streamline processes, new and emerging risks that require analysis and response and a new work force who have graduate qualifications but not in the subject matter of insurance.
We believe the recently approved Insurance Practitioner Apprenticeship will go a long way towards addressing these challenges and attracting talent into the financial services sector.
Those who take part in the apprenticeship programme will have the opportunity to earn a Level 8 Professional qualification in Insurance and Business/personal skills while gaining valuable on the job training, in a sector that offers so much mobility and variety.
Developed with industry in response to talent shortages identified throughout the insurance sector, the programme will help to unlock a new pool of talent from which organisations can recruit, as well as giving a new outlook to school leavers or students who may in the past have dismissed insurance as a career choice.
The expected launch date for the Insurance Practitioner Professional Apprenticeship is September 2016. Details of how to register interest and the operating structures are currently in development and will be available soon.
It was recognised that, due to the national rollout of this programme and the requirement to develop it for all sectors within insurance (Insurers, Brokers, Loss Adjusters etc), The Insurance Institute, as the professional educational representative body, would be best placed to project manage the programme development and delivery with a composite Steering group who will jointly oversee and direct the development, administration and implementation of this new apprenticeship programme. Zurich Insurance have supported this change.
In July 2015, Education Minister, Jan O’Sullivan and Minister for Skills, Research and Innovation, Damien English TD announced the addition of 25 new areas to the apprenticeship scheme in Ireland.
The new apprenticeship schemes have been agreed between industry and training agencies, including trainee positions in the areas of: Software Development, Medical Devices, Financial Services, Insurance, Accountancy, Logistics and Hospitality.
Further positions are also being considered from a total of 86 possible schemes which were identified by the Apprenticeship Council, following an eight month evaluation process. The new apprenticeship types are very flexible, ranging in duration from two to four years, and will be offered at Levels 5 to 9 on the National Framework of Qualifications.