The Chartered Insurance Institute (CII), the leading professional body for the global financial services profession, exists to promote higher standards of integrity, technical competence and business capability. With over 115,000 members in more than 150 countries, the CII is the world's largest professional body dedicated to insurance and financial services.
Our membership covers all disciplines within the insurance industry (claims, broking, underwriting), those working in the life and pensions sector, the mortgage advice market and financial advisers (under the Personal Finance Society brand).
Our Royal Charter requires us "to secure and justify the confidence of the public" in our members and in the insurance and financial services sector.
Chartered Insurance Institute launches society for claims professionals
The Chartered Insurance Institute (CII) has launched a dedicated professional body for people who work in claims insurance with the view to improving consumer confidence in the sector.
More than 20,000 people work in claims insurance in the UK alone, yet presently there is limited professional dialogue between these individuals. By enabling claims insurers to be part of a network directly relevant to their day-to-day work, the Society of Claims Professionals aims to raise the level of knowledge and technical competence in the sector – and in turn, bolster public trust.
Bringing together thousands of claims professionals in one community, the new society will function as a forum for the advancement of new ideas, career development, and professional qualifications. In doing so it will play a leading role in how the profession addresses some of the challenges ahead, including digitalisation and how to use data effectively. How the claims profession responds to these challenges will shape the sector for decades.
It is hoped that the creation of a new society will help bolster public trust in the claims sector. There is a gulf between the perception that claims insurers do not pay out and the reality. £153million in claims payments are paid out in the UK daily and 97% of claims were paid in 2017, the most recent year available. In spite of this, only half of British consumers trust insurers to pay out claims.
The Society aims to encourage a diverse and inclusive membership with everyone working in the Claims sector eligible to join the only Professional Body dedicated to the development of the Claims Profession, irrespective of whether they hold an existing qualification from the CII or elsewhere.
Jeremy Trott, Head of Claims Operations at Allianz and the Non-Executive Director for the Society of Claims Professionals, comments:
“If you ask the average person on the street about insurance they will invariably respond with reference to claims. Claims is the moment of truth for insurers: in the event of a flood or an accident, the public want to know that insurers will be there to help them rebuild their lives.
“The Society of Claims Professionals aims to strengthen consumer confidence in our sector and reassure the public that we are on their side. We want to hear the views of our members because thought leadership cannot come from a board of twelve: it must come from engaged members who live and breathe claims every working day.
“When you provide thousands of claims professionals with a platform for outreach you strengthen dialogue and promote new ways of thinking. It’s a win-win for both the sector and consumers, who will ultimately reap the rewards of a more qualified, better informed and more united profession.”
The input generated by claims professionals who are members of the new society will shape the development of qualifications directly relevant to the sector. Moreover, the work carried out by the new society will further the CII’s broader initiatives to increase trust in the insurance sector and advocate for higher professional standards.
Following the launch of the Society of Insurance Brokers, the new Society of Claims Professionals will be joined later this year by a further society serving the needs of professionals in the underwriting sector.
For more information about the new Society of Claims Professionals, visit www.socp.org.uk
If you like the content you see on youTalk-insurance why not take 20 seconds to subscribe to our free newsletter
- 18 Jul 2019
- 18 Jul 2019
- 15 Jul 2019
- 11 Jul 2019
- 8 Jul 2019
- 4 Jul 2019
- 27 Jun 2019
- 20 Jun 2019
- 17 Jun 2019
- 13 Jun 2019