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“Changing times, changing needs” sounds like a cliché, but it doesn’t become less true for the evolving world of insurance. An illustration of this is the Chartered Insurance Institute’s (CII) move to ‘refresh’ its corporate Chartered proposition for the insurance and financial planning profession.
Following extensive consultation not only with the profession but also with consumers and public bodies, the proposition has been redesigned to keep pace as the profession modernises.
Worldwide, there are 904 organisations holding a CII Corporate Chartered title as of the end of March 2019. Starting July 01, new criteria described as “more reflective” of the broad range of modern business models will take into effect.
According to the CII, the changes will allow all employer types to be included. The criteria will also be expanded around core values and business practices to encompass diversity and inclusion.
A new Chartered title for the managing general agent (MGA) sector will also be rolled out.
In addition, the application process will be simplified, with fewer documents and both application and renewal shifting from paper to email. The oversight arrangements will also be revised to reduce unnecessary bureaucracy and to increase focus on public trust.
“We are living and working in a constantly changing world and the role of the insurance and financial planning profession is increasingly important to help safeguard the lives and livelihoods of our society,” commented CII chief executive Sian Fisher (pictured).
“It is my ambition that Chartered status achieves parity of esteem with other chartered professions and this refreshed proposition will help us get there.”
Meanwhile, to enhance value, the CII will be promoting the Chartered status to the public through an advertising campaign. It will also provide a toolkit to firms to help them promote Chartered status to their staff and clients.
