Comprehensive industry-wide research informs Career Pathway structure designed to encourage rewarding careers within the growing general insurance sector
- 40% working in Insurance for over 21 years
- 94% have access to ongoing training supports
The Insurance Institute of Ireland (the Institute), which has been providing training and development to those working in the insurance sector for over 140 years, has launched a new Career Pathway resource to help support and guide its members through long and rewarding careers in the insurance industry.
The Institute’s Career Pathway is part of the wider Irish Financial Services Skills Framework, which is an initiative of the Expert Group on Future Skills Needs (EGFSN) which advises the Irish Government on the current and future skills needs of the economy. The Framework addresses a challenge facing financial sectors globally – how to future-proof people in the face of rapid change.
In the context of this wider Framework, the Institute’s Career Pathway was developed following comprehensive engagement with Institute members, including in-depth Amárach Consulting Research with some 850+ industry representatives. Participants in the research were recruited from the three diverse industry sectors; broking, claims and underwriting, and hold positions at all levels, from new entrant to senior leadership, providing rich data on the skills required and the need for ongoing learning and development.
Of the 850+ respondents, 40% had worked in the industry for over 21 years, pointing to the longevity and fulfilling nature of diverse careers in the insurance sector. Encouragingly, 94% reported having access to ongoing training and further education supports within their organisation.
The new Career Pathway, which will be hosted on both the national skillsframework.ie website and The Insurance Institute of Ireland’s website www.iii.ie, will serve as a valuable resource for the estimated 35,000 people working in the insurance sector enabling them to identify the skills needed to progress and advance their careers. The user can see what technical and transversal skills are needed at the various levels and the qualifications that will support them achieve their technical skills goals.
Minister of Further and Higher Education, Research, Innovation and Science, James Lawless said:
“I want to congratulate the Institute on developing this fantastic Career Pathway Framework. This Government’s vision for the National Skills Strategy is focused on building a resilient and adaptable workforce through lifelong learning, enhanced research and innovation, and improved access to high-quality education and skills development. It’s hugely important to have an industry-wide framework within the insurance sector that individuals can benchmark their skills against.”
Paula Hodson, Deputy CEO, The Insurance Institute of Ireland says:
“We are proud to launch the Career Pathway resource for general insurance professionals. The insurance industry is evolving rapidly, shaped by global geopolitical and economic trends including digitalisation, artificial intelligence, cyber threats, and climate risks. As a result, it has never been more important for insurance professionals to continuously upskill and stay ahead of change.
The Career Pathway offers a clear roadmap for anyone working in or aspiring to join the insurance industry. It supports professionals at every stage, from those starting out to those advancing their careers or developing expertise in specialist areas. We are confident that this resource will be invaluable to insurance professionals across organisations of all sizes.
We also see this as an opportunity to attract new talent by showcasing the industry’s diverse and rewarding career opportunities. In insurance, it is possible to begin in a junior support role and progress all the way to CEO. Our goal is to provide every member with the structure and educational resources they need to reach their career ambitions”.