As part of the ongoing effort to encourage young people into the insurance profession, the Chartered Insurance Institute’s (CII) Education and Training Trust charity (EATT) has pledged more than £150,000 in scholarships and associated funding for students at the University of Nottingham.
The Chartered Insurance Institute Future Insurer Scholarship is a new, major award scheme that will offer financial support to eight undergraduates studying for their first degrees and aiming to work in the insurance industry after graduation. Degrees relevant to the scholarship include Finance, Accounting and Management, Industrial Economics with Insurance, and Industrial Economics, with optional modules to include Risk, Information and Insurance, Risk Management Decisions and Risk Management Processes.
The scholarships will provide assistance with tuition fees and essential living costs to students from sections of society that are traditionally underrepresented in higher education; the eligibility criteria take into consideration factors such as household income, which must be under £35,000.
Simon White, independent chair of the EATT, said: “We want to help nurture the next cohort of leaders in the insurance profession, right from their first steps. These scholarships will provide the successful students with significant financial support over their entire undergraduate degree studies, allowing them to focus on developing their skills, knowledge and understanding ahead of commencing a career in insurance.”
The CII’s Education and Training Trust Scholarship for Future Insurers will provide financial support totalling £16,500 to each of the eight students. This will be granted through an annual award of £3,500 towards living costs and £2,000 towards tuition fees each year for up to three years.
Russell Higginbotham, President of the CII, said: “The CII Group is investing significant energy and resource into bringing fresh talent into the insurance and financial service professions through initiatives such as our New Generation Programme and Apprenticeship Awards. I am delighted that our Education and Training Trust has chosen to complement these other endeavours with these new scholarships. In combination, they will deliver a pipeline of highly-skilled and knowledgeable individuals focused on preserving and enhancing public trust in the insurance and financial planning professions.”