Research: Young Broker Nation: 3: Professionalism

Professionalism is an industry buzzword and the drive to raise standards by trade bodies and insurance companies is a goal all the young brokers who took part in the Young Broker State of the Nation endorsed. 

Although the term ‘professionalism’ is intangible – and some would say overused at times – when it comes to cleaning up the industry and ridding it of the types of poor behaviour that persist in some areas, most people agree that making better training and education available to a wider market is one of the most obvious methods. Through initiatives such as the Chartered Insurance Institute’s Aldermanbury Declaration, launched five years ago, more employees are being supported to become professionally qualified – criteria for firms gaining chartered broker status.

The hope is that this will encourage the public, including the brightest young jobseekers, to view insurance broking as a profession on equal footing with more ‘glamorous’ sectors such as accounting and law – as well as improving customer trust and encouraging best practice. And with letters after your name comes the expectation of higher salaries; surely the greatest equaliser when it comes to attracting top candidates.

What is your target qualification?
Gaining further qualifications was an aim for most of the young brokers surveyed, with a quarter declaring they would like to “go all the way” in obtaining the highest CII qualification possible. While almost all of those working at purely commercial lines brokers felt they wanted to keep working on their professional qualifications, some of the other respondents felt the CII examinations were less relevant to their jobs.

One respondent said: “I’ll keep going as far as I can. I doubt I will get to fellowship but that is the aim, and it’s best to get it out the way when I’m young. It might get hard to fit in when the workload increases as I get older.”

“I’d like to get the Advanced CII. Anything that is available to me, I will do it,” enthused one respondent. “I’m working on ACII, and I know there is FCII after that. I will probably keep going depending on how I get on,”
said another.

Another broker said: “Ultimately FCII – but from what I have gathered, you need a few years of experience first. When it comes to salary reviews and prospects, having the top qualification is what sets you apart from other people.”

A couple of people said they would like to go back to university or gain other qualifications outside the CII programme, with one person commenting: “I would like a master’s degree, probably in business or something that will help me with my insurance broking career. I don’t think I need professional qualifications as I need practice and to learn as I go along, but mainly I’d like it to broaden
my knowledge.”

“Looking further ahead, the FCII is certainly something I would consider – as is an MBA – but not in the next two years. This is about cementing those foundations,” said one person. One other commented: “I would like to get the FCII but I have thought about doing a risk management qualification from the Institute of Risk Management – but that is more long term, in, say, five years. I don’t think an MBA would give me much more than a degree would.”

However, a couple of brokers felt their progress and job satisfaction was less dependent on passing exams. “I don’t see how [gaining professional qualifications] would benefit me in the short term,” commented one. “I wouldn’t say it is a prerequisite for my role or roles in the future and I’m comfortable with where I am at.”

Another person said they hoped to be put on a management skills training programme, while someone else said: “I want to get up to the Cert CII. Most learning has been about being chucked in the deep end and I have always been one for gaining practical ‘on the job’ experience rather than books.”

Another person said they had no target in mind, adding: “It’s nice to know [qualifications are] not necessarily needed to progress but any opportunity I get to achieve something in the insurance industry I will embark on straight away.”



Young brokers who joined firms through an apprenticeship or graduate training scheme were most likely to say their firm did stipulate they reach a certain level of professional qualification. Generally firms required employees go as far as Cert CII, which is also a requirement for firms with chartered status, although a few firms required further qualifications.

Most employers placed broad time limits on obtaining qualifications and a couple of people mentioned they risked losing their training contracts after three failed attempts at one qualification. Pay rises and bonuses are commonly used as rewards for gaining qualifications – more than half the young brokers who were not compelled to sit exams by their employer said it is nonetheless encouraged, and one mentioned financial incentives are in place at their firm.

The quality of training was generally regarded as high with employers being the most common provider. The Chartered Insurance Institute was a widespread source of training but less so among brokers more focused on personal lines.

Has there been any insurer involvement in your training or career progression?
More than one-third of the young brokers surveyed said they had not had any insurer involvement in their training or career progression, although one remarked that it is “something that is being talked about” within their firm.

For the others, insurer involvement ranged from one or two workshops largely focused on training brokers in their own products to fairly regular contact, with one person saying “different insurers come in-house to do training perhaps once or twice a month” on various aspects of insurance. Those working at smaller firms tended to have less contact than those working at large firms.

One commented: “I have been away a couple of times to spend time with insurers to work out how they are set up and meet their teams. They have day-long sessions where they talk about how they manage their multinational programmes and it is always good to see things from the other side.” Another shared a similar experience: “I’ve been on two insurer visits and spent the day with them. I got to meet a lot of people, which was really helpful and a great experience. Whatever questions I had they were happy to answer.”

Allianz was the insurer that was mentioned most often as having provided some training followed by Aviva, RSA and Zurich. One broker said: “We have insurer training on products about once a month. Allianz and Aspen stick out as doing good presentations that have a point to them rather than just telling you about their products.” Another person said an Axa course had “stuck” with them, adding: “It did a course about the hard market in which it explained about why premiums go up. It made a lot of sense to me.”

One respondent suggested insurers would also benefit from finding out more about what brokers do, commenting: “[My firm] is looking into doing a swap where we would visit insurers and vice versa to gain wider experience. I don’t actually think all insurers know what we do. I think they think we just get in the way sometimes.”

What is your view on the quality and availability of support for professional training?
Generous investment and support in the form of paid study leave, tutors and meeting the cost of books and exams meant the young brokers we surveyed all spoke highly of their employers’ support for their professional training and development.

“It’s brilliant,” said one. “We are funded through our exams and get all the support we need, time off for the exam and [we are] given a financial bonus when we pass.” Another respondent explained that after struggling at first and being “unsure what to do with the [CII] book” they discussed their predicament with a manager who subsequently “sat down each week to do a chapter with me and explained it all really well” as well as paying for them to attend day courses run by the CII.



“We’re really pushed to do our exams,” says another. “The best training is on the job rather than reading from books but we are supported to do that by the company and they pay for our books and insurance institute membership. If we get any certificates they get shown in the office so people can see the fruits of your labour.”

Another added: “We had an in-house tutor to get us through our first exams. Every week we had a two-hour session and that lasted months. After that you are on your own and the company gives you the literature you need and at appraisals every year they ask you if there is any training you need and they find a course for you. My company has been amazing for training, especially for me being quite new to the whole thing.”

However, one person suggested some of the larger firms could offer a little more support. “Most big brokers and big insurers fund the professional training and exams,” they said. “Still, there is a way to go especially in larger brokers where there ought to be initiatives where people doing exams can be put in touch with other people in the same position to chat to them and support each other. They could also put on training sessions for people doing the same module. Rather than paying for retests we should do revision days, even if it means employing a full-time trainer from the CII.”

Another person said: “I’ve been sent on a couple of courses run by the CII. I learned a lot and met some people so it was also really good for networking. I always encounter things I don’t know about it but I always want to learn more.”