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Insurance apprenticeships on rise in UK

A growing number of UK insurance companies are willing to offer apprenticeships in the industry, according to a survey.

More than half would consider doing so, the Chartered Insurance Institute (CII) poll of 2300 general insurance businesses shows. The figure is up 12 percentage points on last year.

Last year, the number of new apprentices in the UK insurance and financial services sector studying CII units passed 1000 for the first time.

Employer awareness of insurance apprenticeships with professional qualifications has risen to 67% from 46% in 2009, the survey shows.

“This is a positive sign given the Government’s increasing focus on apprenticeships,” the institute said.

However, CII Public Affairs Manager Daniel Pedley says the industry must still work harder to increase the flow of new talent.

The survey paints a picture of improving skills on one hand, and fears for where future talent will come from on the other, he says.

“This is why it’s vital that the insurance sector continues to explore and develop new routes of entry such as apprenticeships or school outreach programs… which provide a strong platform for an insurance career.”

This year Lloyd’s launched its apprenticeships program, while London market insurer the Barbican Group has taken on its first two apprentices.