Brokers keen to learn more via Continued Professional Development

There’s no such thing as learning too much, is there? If numbers from Premium Credit’s research are anything to go by, it looks like brokers are eager when it comes to bettering themselves professionally.

The premium finance firm, whose capability team has delivered nearly 2,000 free training sessions for brokers since 2016, found that 65% of companies expect a rise in staff training this year while 26% forecast a significant increase.

In particular, 58% believe Continued Professional Development (CPD) training will grow over the next two years specifically in the area of premium finance.

Meanwhile it was also noted that the average budgets for training went up by approximately 29% in 2018. According to Premium Credit’s survey, insurance professionals spent an average of 29 hours training under the Financial Conduct Authority’s new CPD regulation for brokers which requires a minimum of 15 hours.

“It is impressive that companies are doing more than [sic] double the minimum training requirements, and plan to invest further this year to develop their people,” said Premium Credit strategy and marketing director Adam Morghem. “There are also tangible commercial benefits to be had too.

“The cost of this investment can be subsidised by firms taking advantage of accredited free training. Our own CPD accreditation underlines our ongoing commitment to supporting our partners and continues to receive excellent feedback from brokers.”