Thu 21 Jul. 2022
CII consultation - next steps
Today (21 July) the Chartered Insurance Institute has published a report detailing how they are future-proofing learning and ensuring membership is at the heart of all they do.
The Shaping the future together consultation gave members and other key stakeholders the opportunity to share their views on our proposed plans.
The feedback the CII received via the consultation has been very helpful and provided them with valuable input and insight around member needs and expectations of the organisation. The CII have used the feedback to swiftly prioritise and take forward the proposals that had clear support from members.
The CII have prepared a summary of the actions they will be taking over the next 12 months, which you can access here
As proposals to introduce streamlined qualifications, modern assessment methods and the introduction of behavioural content received widespread support from those responding to the consultation so in the next 12 months the CII will:
- Pilot changes to the assessment method for the R06 Financial Planning Practice qualification.
- Pilot changes to the way qualifications are delivered, with a digital qualification format to be offered for international qualifications.
- Launch the Professional Map, an interactive tool that allows professionals and employers to self-assess knowledge and skills gaps and find ways to fill them.
- Engage with practitioner advisory groups to design qualification structures for the future evolution of the Professional Map.
When it comes to membership, the CII and Personal Finance Society (PFS) commit to working together to achieve greater recognition from policymakers and other key stakeholders of the power of insurance and financial planning to improve the public’s resilience.
The CII will:
- Engage with volunteer-led Local Institutes, Membership Societies and Regional Committees to share examples of good practice in the profession.
- Share examples of good practice with the regulator and policymakers with the aim of shaping future regulation and guidance for the profession.
- Place greater emphasis on adherence to professional standards when professionals apply for and renew their membership.
- Communicate to consumers the value of choosing a Chartered firm.
- Provide more information about how issues regarding member and firm misconduct can be resolved.
- Appoint a new Leader of the Personal Finance Society.
- Build on and implement the business plan for the Personal Finance Society.
The next 12-months of work will provide a strong framework for the development of the CII’s next five-year strategy, which will be published in early 2023.
On behalf of the CII, our thanks, once more, to everyone who took part in the consultation and helped shape our future work.