As the Financial Conduct Authority’s (FCA) Consumer Duty drives a shift in how insurance and personal finance professionals deliver better customer outcomes, a new report reveals that firms are increasingly adopting the Chartered Insurance Institute’s (CII) Professional Map to align with regulatory requirements.
Launched in September 2022, the Professional Map serves as a competency framework, career development tool, and international benchmark for excellence in the insurance and personal finance sectors.
It outlines key behaviours such as insights, drive to deliver, curiosity, and integrity, providing a structured approach for firms and individuals to enhance their professional relationships and practices.
Caroline Hawkesley (pictured above, left), UK managing director at Progeny, highlighted the value of the Professional Map in shaping business practices.
“As a Chartered Financial Planning firm, we are always striving towards better client outcomes,” she said.
The Professional Map, she explained, provides a framework that supports these goals and aligns with commitments to treating clients fairly and adhering to Consumer Duty principles.
Hawkesley also observed that while many of the behaviours and competencies outlined in the Professional Map should naturally occur within Chartered firms, formally aligning these practices with the CII’s standards can help ensure consistent delivery of high standards.
The Professional Map also offers a standardised approach to ethics and compliance within firms. It includes training and assessment on areas such as integrity, impartiality, independence, principled behaviour, and organisational standards.
Philip Greenwood (pictured above, right), head of technical consulting at EQ Investors, commented on the behavioural aspect of employee development. He emphasised that professional behaviour is as important as technical ability, though more difficult to monitor.
“The CII Professional Map delivers understanding and structure around the key behaviours we should all aspire to, to best serve our clients. It acts as a reference point for setting expectations, as well as a resource for developing these areas, signposting towards structured learning opportunities which can be tailored towards the individual,” Greenwood said.
Greenwood further suggested that leadership teams should integrate these behaviours into company culture. This could involve incorporating behavioural assessments into hiring processes, performance reviews, and reward systems, alongside sufficient training resources. He added that the Professional Map provides the structure necessary to support this integration.
Sarah More, learning & development manager at Apollo Underwriting, pointed out the map’s focus on not only technical competence and ethical judgment but also on innovation skills - such as creative problem-solving, curiosity, and data literacy.
“[They] are essential for driving growth and adapting to a rapidly changing environment,” More said.
Vanessa Riboloni, professional capabilities and insight manager at the CII, noted that under Consumer Duty, firms are required to ensure that their operations are customer-centric, offering products and services based on customer needs and maintaining timely, proactive engagement.
“Continuous improvement is essential, and boards and senior managers are accountable for delivering the best possible outcomes,” Riboloni said.
She also explained that achieving these outcomes necessitates a cultural and behavioural shift, which can be difficult to define. However, extensive research has identified the behaviours that lead to positive results.
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