One-third of insurance professionals participating in a survey say gaining the right skills and knowledge to best serve customers is the biggest challenge they face in the year ahead.
The survey, conducted by Chartered Insurance Institute, included 975 CII members. A total of 280 members said getting to grips with emerging risks such as cyber, climate change causing more frequent weather catastrophes, plus COVID-19 and Brexit causing business interruptions are the greatest hurdles they face at work in 2022.
A social media poll of the CII members was conducted in December 2021, and revealed that one in five failed regulations, such as changes to product-pricing practices – which will be the most significant obstacle they need to overcome in the next 12 months.
Roughly, a quarter of those polled identified getting used to hybrid working as the greatest challenge they face in their careers this year. CII Chief Customer Officer Gill White said: “We are aware of the swift pace of change in the insurance profession, and have already worked with partners to produce qualifications and learning materials for data science, climate risk and product simplification in the last 12 months, based on what our members have identified as a ‘knowledge-gap’.
“We are committed in making it easier for insurance professionals to identify the learning pathway best suited for them, and sought their feedback on our plan to make our qualification and support more relevant and effective via our ‘shaping the future together’ consultations.”
He said: “We have proposed a combination of education best practices, learner feedback and application of the profession map that details the knowledge, skill and behaviour needed for different roles at different experience levels”.