THE BUSINESS
London Market Group is a market-wide body that brings together the specialty commercial insurance and re-insurance communities (including broking and underwriting) in London. Its purpose – on behalf of more than 300 employers – is to promote London’s unique offer, help build a platform for future growth and success, and protect and enhance its reputation.
THE CHALLENGE
Making specialty insurance a destination career for school-leavers.
While they were already engaging graduates, London Market Group wanted to position specialty insurance as a career of choice for school-leavers. Their challenge was to reach young people from disadvantaged backgrounds within easy reach of London, as this was a target market few employers had previously managed to engage.
OUR APPROACH
Designing and delivering an industry-wide future talent programme.
We developed a four-part school-leaver campaign and academy programme to raise the profile of the specialty insurance market and give young people the opportunity to learn about and experience the industry so they see it as a place they want to work.
- Part 1: Careers Resources – We created a suite of downloadable, subject-specific learning resources to help teachers bring concepts of insurance, risk and specialty insurance into the A-level curriculum. This helped schools meet the Gatsby Benchmarks, especially “Linking curriculum learning to careers."
- Part 2: Targeted School Outreach – We designed and delivered an outreach programme in 50 schools within commuting distance of London. In each school, we delivered a one-hour workshop bringing specialty insurance to life, helping young people understand what the industry's about and what a career in the market could look like. These workshops were a gateway to applying for part three of the programme.
- Part 3: The Insurance Futures Academy – we delivered a two-week programme in July 2023. The first week we delivered a series of skills workshops and career insight experiences supported by 60+ volunteers from across the insurance market. For the second week all students completed a four-day work placement with one of 35 employers, then we hosted a careers festival where they had a chance to network with 20 employers.
- Part 4: Apprenticeship Discovery – In October 2023 we invited 50 students to a three-day programme focused specifically on apprenticeships in the insurance market, supported by more than 40 market volunteers. Beginning with two days of workshops, the programme culminated with a discovery day where students had the chance to meet 20 employers offering apprenticeships in the market.
Due to the programme’s success, we’re expanding our partnership with LMG to deliver the Insurance Futures Academy again in July 2024, this time for 150 students – some from schools we previously partnered with, plus some new additions.
THE RESULTS
- 500 downloads of the A-level learning resources from the London Market Group website from March-September 2023
- Reached 1,200 students at 50 schools, with 50% registering their interest
- Received 280 applications to both programmes
- Engaged 100+ volunteers from more than 30 employers in specialty insurance
- Over 600 work experience days delivered with 35 host employers
- Insurance Futures Academy:
- 64% students said they would be very confident to apply for an apprenticeship post-programme, up from 23% pre-programme
- 70% of students said they had a good understanding of specialty insurance post-programme, up from 4% pre-programme
- 73% of students said they had a good understanding of the careers in specialty insurance post-programme, up from 6% pre-programme
- 75% of students said they were certain or likely to pursue a career in speciality insurance post-programme, up from 50% pre-programme
WHAT THE EMPLOYER SAYS
“Our partnership with Visionpath has helped the London insurance market kickstart our talent attraction programme. Their knowledge and expertise is first class, this combined with an amazing attention to detail and a commitment to delivering engaging content has impressed both our firms and our students.”
Caroline Wagstaff, CEO of London Market Group
WHAT THE STUDENTS SAY
“Lots of insightful knowledge that differed greatly from my stereotypical understanding of insurance”
“I gained an insight into the insurance market, while also developing my own personal and soft skills.”
“I have gained so much knowledge and an insight into what opportunities are actually available to me, how to apply and go through the assessment process, which is very valuable to know for the future.”
“I have finally picked a career path and have gained valuable knowledge about insurance”
Want to know how we can create and manage a bespoke apprenticeship programme for your business? Get in touch.
