The insurance industry have announced that they are committing to doubling the number of apprenticeships to attract new talent into the sector.

The Association of British Insurers (ABI) has announced that its members have pledged to double the number of apprenticeships across the insurance and long-term savings sector over the next three years. Their target is to have 2,500 apprenticeships by 2025.

The insurance industry across the Liverpool City region is extensive. It includes many insurance brokers such as Rigby Financial, JB Brokers and Waltons Insurance Brokers. One of the largest insurers in the UK has its history in the Liverpool City Region. LV= prior to 2007 was Liverpool Victoria established in 1834 and famous for its ‘penny policy’.

Insurers in the UK believe apprenticeships boost socio-economic diversity at entry-level across the industry.  They provide opportunities to school leavers and upwards to help those who might not otherwise have considered a career in the sector. They also believe that this will contribute to the ‘levelling up’ agenda while simultaneously increasing career opportunities across the UK in the insurance and long-term savings sector.

Apprenticeships are inclusive and the industry is keen to increase access and inclusion to boost the number of entry-level and training opportunities in the industry. They want to build a workforce where talent can thrive, no matter what stage of their career or their background.

Barry O’Dwyer, ABI president and Royal London Group CEO, commented that ABI members’ commitment to making the insurance and long-term savings sector more accessible and inclusive brings benefits all around. “The greater the breadth and depth of our workforce, the stronger we are as a sector, the more we can support jobs around the UK, and the better we can serve our customers. There is always more we can do to improve diversity across the industry, and this is another step in the right direction,” he said.

Manuel Thompson-Oloko, Early Careers Manager at the Chartered Insurance Institute (CII), emphasised the importance of insurance apprenticeships and upskilling and retraining the existing workforce. “They provide a great channel for boosting socio-economic diversity, improving access and inclusion, and increasing opportunities across the UK. We welcome ABI’s commitment, and the CII will play our part in ensuring the success of this initiative,” explains Manuel.

Commenting on the ABI members’ pledge, ABI Director General, Hannah Gurga said: “As one of the largest industries in the UK, employing 320,000 people, we have an important role to play in supporting and developing people’s careers throughout the country. Doubling the number of apprenticeships is an important step in our continued efforts to boost diversity and inclusion across the sector to provide career opportunities at all levels and to ensure our workforce reflects the communities we serve.”

If you would like further information on apprenticeships and how to apply for them, talk to the Apprenticeship Support by Be More Team They provide impartial information and advice on apprenticeships across the Liverpool City Region.