Q&A: CII society chairs

What do you see as the biggest difference between the former Chartered Insurance Institute faculties and the new societies?  

Sue McCall: The faculties carried out a lot of good work but the clue is in the name, they were quite academic in nature. The societies are sector-specific professional communities that are more focused on action and making positive change. We focus on providing digital content that helps to improve our member’s knowledge and skills, as well as representing and promoting good practice in the sector. 

Kevin Hancock: The faculties produced some good quality research and reports, but were in need of a refresh reflecting the way the insurance industry is modernising. The societies are more dynamic member communities, by focusing on good practice guidance and digital content, we give members the opportunity to improve and refresh their knowledge and skills on a regular basis.

Philip Williams: The faculty boards were a really useful way for industry experts to come together and share their best practice with the broader profession, and in many ways, the new societies are a continuation of the great work these groups did. With the societies we’ve been able to reset the relationship with the CII. The intention being to follow in the footsteps of the Personal Finance Society and create a society that is really representative of the profession as a whole, with high engagement and high relevance for the membership.

Furthermore, the Society Board is even more representative of the membership, which I hope will make us more relevant and more in touch with the issues underwriting professionals face.

What do you see as the aims of your society?

McCall: We have three main objectives, but they are all closely linked. We aim to encourage the highest professional standards among our members, which leads to better outcomes for customers and clients, which will ultimately improve public trust in our industry.

Hancock: The societies exist to encourage greater public trust in the profession and represent the individuals working in the sector. By promoting the highest professional standards in our members, we aim to equip them with the knowledge and skills required to achieve the best outcomes for their customers and clients.

Williams: The society already represents over 13,000 members in underwriting roles throughout the UK and beyond. We have a mandate to increase the visibility of the key topics that affect the membership and seek to share insight with a wide range of stakeholders, both within the membership itself but also in the minds of regulators and policymakers, ultimately building out the public perception and trust in the profession.

Why did you personally decide to get involved in the society?

McCall: I was previously involved in the work of the faculty. It is exciting to see the importance and impetus the CII has given to the new society – it recognises the critical importance of the claims sector. In addition, I have long been an advocate for greater diversity and equality in the sector and encouraging new talent into the market. I believe Soup is ideally placed to tackle these issues.

Hancock: I have been involved with the CII for many years and have a real passion for insurance broking. I place great importance on professional standards and equipping my team with the right skills and knowledge to deliver great outcomes – as demonstrated by Yutree recently achieving chartered status with the CII. Leading the society seems a great way to affect positive changes in the wider sector. 

Williams: Insurance is a dynamic and exciting industry, which is both intellectually challenging and fundamentally important to the workings of the world economy. I saw the work Sian Fisher [CEO of CII]  and others have done in modernising the CII and wanted to be able to help in what I see as an essential part of the UK insurance ecosystem. I see huge change washing over insurance, in distribution, manufacturing and claims and it’s crucial that the next generation of insurance business, such as the insurtech business I work in are represented.

What should we expect from your society in the next 12 months?

McCall: Last year, we focused on customer vulnerability and will continue to place a strong emphasis on this topic. This is an issue that will only increase in importance, and it’s essential we equip our members with the knowledge and understanding to deal with customers with fairness and compassion.

We will also do more to address some of the negative perceptions of claims that some people have. Our research shows that those who have made a claim tend to have a more positive view of the claims function than those who do not, which suggests a disconnect between expectation and reality. We will highlight examples of good practice in the sector, and ensure that we are calling out bad practice whether we see it.

In addition, our members face a host of broader issues. From rapidly changing customer expectations and the impact of technology and automation, through to continuing political instability and a hardening market, we will make sure our members are provided with the insight and guidance they need in a challenging environment.

Finally, we will continue and expand out our successful stakeholder programme. Through roundtables and bilateral meetings, we have met with regulators and related trade bodies and professional associations. Through these meetings, we are able amplify our key messages and identify opportunities for collaboration that will benefit the sector.

Hancock: We’ll be increasing the volume of digital content we produce and really focusing on the issues that matter to brokers. The society will look at how it can provide learning and insight to all broking professionals – from entry level through to senior management. We’ll also be looking to increase our communication with the other societies of the CII to tackle some of the broader issues the insurance industry faces. We represent brokers but insurance is a closely connected ecosystem, and by collaborating with our peers, we can really move the dial on some of these cross-cutting issues.

Williams: We’ll continue to deliver on providing relevant best practice for underwriters, but increasingly focus on topics that are affecting the profession in the mid-term. We’ll look at future facing topics; such as the skills and training that are required to adapt for the changing role of the underwriter; digital and data adoption and the public perception of insurance fairness.

What is the biggest challenge you’re facing at the moment?

McCall: Customer expectation is influencing so much change in our sector at the moment. The public expect greater speed of resolution, and higher levels of service and flexibility. Technology and automation can address some of these, but can also erode the ability to communicate with a human, something many customers place great importance on. There is clearly a balance to be struck, and claims professionals will need to tackle that challenge.

Hancock: We are facing an environment rapidly changing customer expectations. Customers are increasingly able to direct access products and services directly, and it’s crucial that we emphasise and demonstrate the value of professional advice.

It’s also clear we are facing a hardening market, and it’s essential our members are equipped with the knowledge and skills to tackle difficult conversations and a challenging business environment.

Williams: I wrote in a recent journal article about the role that digital disruption is playing not just in the insurance value chain but also in the work underwriters do on a day-to-day basis. As a profession in the medium term I see a skills challenge for people working in underwriting areas and this will particularly acute for those that have worked in the space for 20 years or more. Awareness, training and professionalism will be all the more important through this period.

What is the biggest opportunity for insurance professionals at the moment?

McCall: From a public trust point of view, claims is one of the most public facing sectors of the insurance industry, and by its very nature we often we deal with customers who are in need of support and guidance. If we can get this right, we could really shift the way our industry is perceived in wider society.

Hancock: If we can approach the issues I mentioned above in a professional and diligent manner, that will represent real progress. On a broader basis, there remains big opportunities for commercial growth in the SME sector. We also know technology and digitalisation will continue to influence and change the sector. It can be easy to look at this in a negative context, but brokers who are able to use technology to secure better outcomes for their clients will surely benefit.

Williams: Fundamentally insurance is a people business and in my opinion while changing, the role of the underwriter is more important than ever. There is a huge opportunity for underwriters to talk to the public at large about the role they play in ensuring true value for customers, the incorrect conflation between value and price needs to be addressed and if underwriters can seize the huge opportunity in helping the public understand this it would massively help to improve trust and the perception of the profession.

How can the society help professionals with these challenges and opportunities?

McCall: Good Practice Guidance provides an accessible and concise summary of a topic or issue, and most importantly, a set of practical recommendations that a member can implement within their role or organisation. This is augmented with a wide array of digital content that helps members enhance their knowledge and skills.

Hancock: Good Practice Guidance sits at the heart of what we do as a society. These guides, written in collaboration with subject matter experts, provide a concise summary of an issue, as well as practical recommendations that a member can implement to achieve better outcomes. No topic is too big or small – from technical and regulatory issues such as Senior Managers and Certification Regime or building materials, right through to thematic and sector-wide issues, such as vulnerable customers or the impact of technology.

Williams: The society will be helping provide relevant comment and assistance for underwriting professionals to navigate these top issues. While awareness is part of the jigsaw, we’ll also be helping with practical and up to date guidance on these topics.

How/why would you encourage people to join/interact with the societies relevant to them?

McCall: Simple – for more information visit our website and you can register as a member of the society and sign up for updates on all the latest news and content. 

Hancock: The world is changing fast – and the insurance industry is changing with it. A professional community of like-minded individuals provides the forum for sharing ideas, knowledge and skills that will allow our members to stay at the top of their game. The societies can help them not only attain the best results for their clients and customers, but also, through continuous professional development, they can achieve their maximum career potential as well. I would encourage all individuals in the broking sector to visit the website and take a look at the great content we are producing.

Williams: The societies will only be truly successful if we can leverage the diversity that we represent. This will help surface the real challenges facing the underwriting profession and guide the material that we create for the membership. It doesn’t matter your role or level of experience in insurance, please get involved. 

For more information visit: https://www.cii.co.uk/membership/societies/