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We want to help the London Market build a diverse, dynamic workforce which offers a deep talent pool on which the market can draw.
If the London Market is to retain the intellectual and financial capital needed to be the market of choice for solving complex risk transfer issues, then it urgently needs to increase the flow of young talent (aged 18-24) into the market. Specialty insurance needs to become a destination career alongside other financial services businesses.
To achieve this the LMG is:
LMG is curating a range of engaging content and marketing material for the London Insurance Life website to create a single source of information on working in the London Market. These pages bring to life the people who work here and the roles they do and includes details of entry level jobs, schemes and events for people considering a career in the London insurance market.
This material is actively promoted through social media and through campaigns in schools, colleges and universities.
From 3rd July to the 14th we held our first #futuresacademy.
The involvement of 50 market firms and over 100 volunteers in offering work experience to 115 sixth-form students during the summer of 2023 is a genuine market first. Never before has the whole market come together to try and share with the next generation its story; that this is an exciting place to work, with career opportunities that rival banking, law and the professions. So, what have we learned?
First, simply that ‘we can do it!’ Young talent finds specialty insurance attractive when our story is told and told well. Our programme was oversubscribed four times, and the response from the students was incredibly positive. By coming together and collaborating we can build on this initiative to deliver at scale and with an impact that no one firm can manage on its own.
In October 2023, LondonInsuranceLife ran its first apprenticeship programme over three days introducing Year 13 students to careers in specialty insurance. It culminated in a careers fair at which 20 market businesses with live apprentice opportunities could introduce their firms to the students.
