Building a successful underwriting apprenticeship academy

Background

The Academy was launched in in 2023 to address a growing challenge: a succession gap and difficulty attracting mid-level talent in a tight recruiting market across our regional offices. Twelve apprentices were hired in the inaugural cohort, with the two-year program split into two parts.

First, a foundational year where students took a crash-course in the world of insurance, learning the principles of insurance, understanding the terminology (and its many acronyms) and working through underwriting pathways. In the second year, the Insurance Practitioner Level 3 and Financial Services Administrator Level 3 apprenticeships were achieved, and apprentices began exploring product lines and areas of the business that interested them. Apprentices balanced learning, studying and exams with workloads and projects in the “real world”.

How we helped

We worked with the employer to create an early career underwriting academy, using apprenticeship programmes to provide a structured learning plan. This programme was designed to attract junior diverse talent who may have not otherwise considered a career in the insurance industry. The aim was to give the business a pipeline of enthusiastic and trained talent, ready to make a difference and fill Underwriting roles

The Insurance Practitioner Level 3 and Financial Services Administrator Level 3 apprenticeships created the opportunity to develop a strong understanding of the insurance industry, regulations, processes and procedures, communication and junior underwriting practices. Through delivery of our programme content and ongoing support and coaching, the learners also obtained their Cert CII professional qualification alongside their apprenticeship, giving them valued industry qualifications.

Results

Following the conclusion of the 2-year programme, the individuals were armed with a unique experience of theoretical and real-world learning and the opportunity to continue their development while pursuing their professional interests. All of them became Cert CII qualified, with a 45% distinction rate and 55% of the cohort have gone on to pursue higher level apprenticeships. We have retained 75% of the cohort across the business filling various Underwriting roles.