As the insurance sector continues to grapple with attracting new talent, established industry expert Prue Willsford says new education requirements for advisers will go a long way in positioning insurance as a professional, rewarding career.
The ANZIIF CEO says that education has been a hugely important part of her own life, and that any respected profession needs a benchmark of knowledge for both its entrants and its long-term players.
“I’m a foundational believer in education,” Willsford said.
“I’ve seen it change my life, and I’ve seen it change my family’s life. I was lucky enough to be the deputy chancellor at a university, and I didn’t care if I was handing out a Certificate 4 or a PhD - that sense of pride, achievement and being able to know where your capability sat within a body of knowledge is a really important thing.”
Willsford says that if the financial services sector wants to be seen as a professional career choice, it needs to adhere to three key principles which can be applied across all professions.
“If we want to be professionals, there are only a few elements to that,” she explained.
“You must be certified to a body of knowledge, you must be committed to ethics, and you must be committed to lifelong learning. That’s based on 2,000 years of years of research - it’s pretty simple.”
“It’s also important not only in terms of our own pride and competence, but in terms of being a genuine career pathway,” she continued.
“Our financial services sector, and insurance and risk in particular, struggle to attract talent. We have to collaborate, and if we want to have bright people joining our industries, we need to demonstrate career paths and a professional future - because they have lots of choices about where to take their human capital.
“If we’re not part of that story, then over time, we will be less relevant.”
