The Chartered Insurance Institute (CII) and the Personal Finance Society (PFS) have reported that more than 3,800 young people have taken part in their virtual work experience programme during its first year.
The initiative, which launched in October 2023 in collaboration with Springpod, aims to introduce young people across the UK to careers in insurance and personal finance.
So far, nearly 1,400 students have participated in the insurance-focused segment of the programme, while the personal finance component has attracted over 2,400 students.
CII noted that the virtual format is designed to eliminate traditional socio-economic barriers, enabling wider access to work experience.
According to the Institute, 48% of those enrolled in the insurance programme are female, 63% come from diverse ethnic backgrounds, and 22% qualify for free school meals. Similar figures were reported for the personal finance programme, with 44% female participants, 66% from diverse backgrounds, and 22% eligible for free school meals.
Claire Bishop (pictured above), career partner manager at the CII, explained that the programme was created to provide young people with a real understanding of the insurance and financial planning professions.
“We’re giving an opportunity to young people to experience the professions first-hand, understand the skills and characteristics needed to be successful, and make informed decisions with regards to their career paths. We want to communicate how diverse the professions are, and dispel a few myths along the way,” she said.
The programme, which is free and open to individuals aged 13 and over, is available on demand and offers a range of virtual modules, quizzes, webinars, and discussions to help participants build foundational knowledge in insurance and financial planning. The interactive format also includes activities designed to introduce students to different career pathways within the industries.
Looking ahead, the CII also announced that it plans to offer in-person work experiences for the most engaged participants in 2025. This will include career insight days and other hands-on opportunities for those who have demonstrated a strong interest in the programme.
Springpod CEO, Sam Hyams, commented that the organisation is pleased to support the CII’s mission to provide accessible work experience for young people.
“In both the insurance and personal finance sectors it's possible to have really significant positive impacts on people's lives, and giving the workforce of the future a chance to explore these careers earlier on in their decision-making journey will help bring the best talent into the industry. After reflecting on a very successful first year of the project, we look forward to what we achieve together between now and 2027,” Hyams said.
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