The Chartered Insurance Institute (CII) and Personal Finance Society (PFS) report that more 6,600 young people have participated in the insurance and personal finance virtual work experience programme since its launch in October 2023.
Developed in partnership with Springpod, the immersive programme is designed to bring the insurance and personal finance professions to life for young people across the UK. So far, over 2,300 students have engaged with the insurance programme, while the personal finance programme has attracted over 4,200 participants.
The virtual nature of the Springpod removes traditional socio-economic barriers to work experience, which is reflected in course enrolment. Participants in the insurance programme are 48% female, 57% of non-white ethnicity, and 18% eligible for free school meals. The figures are broadly similar for those who have registered on the personal finance side, with 44% female, 66% of non-white ethnicity, and 21% eligible for free school meals.
On how the programme has shifted their view on finance careers, one participant said: “Before taking part in this programme, I felt unsure and intimidated by finance, but learning about personal finance and the different financial careers has completely changed that - I now feel confident, motivated, and genuinely excited about the possibility of working in this industry.”
A participant of the insurance programme shared similar feedback: “This Insurance Careers programme genuinely changed how I see the insurance industry. Before starting, I didn’t realise how many different roles existed, but the modules broke everything down clearly and helped me understand what working in insurance is actually like.”
Having completed the Insurance Careers programme, participants reported a 27% increase in ‘excellent awareness of careers in this sector’, while participants of the Careers in Financial Advice programme reported a 24% increase.
Adam Harper, Executive Director, Strategy, Advocacy and Professional Standards at the CII Group, said: “The CII is committed to advocating for insurance and personal finance careers, and educating the next generation on the broad range of career paths that are available. We are delighted that so many young people have engaged with our Springpod virtual work experience programmes, and particularly that many of the participants come from groups who are typically underrepresented within our sector.”
More information about PFS personal finance virtual work experience can be found here.
More information about CII insurance virtual work experience can be found here.