The Chartered Insurance Institute (CII) has released the findings of its Shaping the Future Together consultation, which engaged the professional body’s members and stakeholders on its future strategy.
The consultation, which ran from Oct. 15 to Dec. 17, revealed several priorities of CII stakeholders, including the need to raise public trust in the profession through the promotion of professional standards and increasing confidence that member misconduct will be addressed. Other key areas identified were adopting streamlined qualifications through modern assessment methods; a common strategy and clear purpose (and objectives) agreed for societies, local institutes and regional committees; and a governance and operating structure that achieves greater economies of scale.
Stakeholders also said the CII must come up with a professional map that provides individuals and firms with clarity around the competences required of a professional and what development support is available to address any gaps. They also said that the Personal Finance Society remain part of the CII Group, with greater collaboration between the Boards and a new leader empowered to raise public trust in the profession.
“2022 is an important year for the CII and its members,” said Helen Phillips, CII board chair. “This year marks 125 years since local institutes came together to form the Federation of Insurance Institutes of Great Britain and Ireland, which would later evolve into a professional body worthy of a Royal Charter – the Chartered Insurance Institute. In the coming months, the CII’s board will use consultation feedback to help inform the next five-year strategy for our professional body, so that we build on the long and proud history that underpins our Royal Charter to ‘secure and justify the confidence of the public’ in the insurance and personal finance profession. The CII’s leadership team, working with a colleague group, will begin prioritising and implementing those proposals for which the consultation has shown clear support from our members. We aim to share more information on the areas for immediate action in the months ahead.”
