The initiative provides recent high school graduates with a pathway into the insurance sector, bypassing the need for a university degree.
The year-long program offers participants paid, full-time work experience across various functions within the business, coupled with guidance from dedicated mentors.
According to Natalie May, executive manager for people, capability, and communication at IAG, the program is aimed at diversifying entry points into the industry.
“We’ve got to change the way we do things because the world is changing. We need to be more innovative, open-minded, and thoughtful as to how we attract and retain talent. It can’t just be one way is the right way; there should be multiple channels and approaches as to how we bring talent into the business,” she said.
She said that a lack of a degree should not be a barrier to entering a career in insurance.
“We recognise that university is not for everyone, whether that be by choice or specific barriers that young people face,” May said.
The program debuted as a pilot last year with six participants, who rotated through departments such as underwriting, risk, finance, communications, and product development. Many of these participants have since secured ongoing roles within IIA or the broader insurance industry.
This initiative aligns with efforts by the Insurance Council of Australia (ICA) to address the sector’s talent shortage, including its newly launched Talent Roadmap.
IAG also runs a separate Graduate Program targeting university alumni, which will begin accepting applications early next year.
Applications for the 2024 NextGen Ambition Program open on Dec. 2 and close on Jan. 10, with placements available in Sydney, Melbourne, and Perth.
Focusing on improving career in insurance, IAG has rolled out new employee benefits as part of its 2024 Enterprise Agreement, approved by the Fair Work Commission. These updates are designed to offer flexibility and cater to changing workplace needs.
The agreement includes 20 weeks of gender-neutral paid parental leave, available at full or half-pay. Additionally, employees will receive five “myLeave” days annually, intended for personal matters, alongside the existing leave entitlements.
Support for employees affected by domestic violence has been enhanced with unlimited leave, while those supporting affected family members can access up to 10 days of paid leave. For employees undergoing gender transition, the agreement provides up to 20 days of paid leave.
Flexible work arrangements have also been expanded through IAG’s “FlexiPlace” program, which allows up to 30 remote workdays per year from Australia or New Zealand. Other options include job sharing, secondments, and extended leave programs.
