Intermediate Level Apprenticeship in Providing Financial Services
On this page you will find out more information on Intermediate
Level Apprenticeship in Providing Financial Services.
What is an Apprenticeship?
Apprenticeships are funded programmes of study that help
employers derive maximum value from training budgets.
They are available in many sectors, including insurance and
financial services. They play a key part in addressing the skills
gaps and shortages that exist in the wider financial services
sector and beyond.
Apprenticeships comprise the following elements:
- Knowledge qualification - this is the part that contains a CII
unit/qualification
- Competence qualification
- Key Skills/Functional Skills
- Employee Rights and Responsibilities (ERR)
Apprenticeships allow staff to develop their technical
knowledge, acquire new skills and benchmark competence. Depending
on the age of the Apprentice, the employer contributes towards this
work-based training on a sliding scale.
There are two frameworks that relate to insurance - the Level 2
Intermediate Apprenticeship in Providing Financial Services, and
the Level 3 Advanced Apprenticeship in Providing Financial
Services.
What
part does the CII play in Apprenticeships in Providing Financial
Services?
Apprenticeships in Providing Financial Services contain units
from the Certificate in Insurance and the Award in London Market
Insurance. These units make up the knowledge qualification element
of the Apprenticeships.
Please note that the Level 2 Intermediate Apprenticeship in
Providing Financial Services will soon have a pathway that contains
the CII's IF1 unit as the knowledge qualification.
Staff taking the Level 3 Advanced Apprenticeship in Providing
Financial Services have two choices:
- Take the (IF1) unit plus a further Certificate in Insurance
unit that best meets the needs of the employer
- Take the Award in London Market Insurance
Those completing the Level 3 Advanced Apprenticeship in
Providing Financial Services can apply to use the designation 'Cert
CII®' (CII membership and Continuing Professional Development
requirements apply).
Who delivers
Apprenticeships?
FE colleges and private training providers deliver
Apprenticeships for employers in the workplace.
This allows the employer to focus on other activity. Larger
employers may also deliver the Apprenticeship using existing
in-house expertise.
Who funds
Apprenticeships?
The National Apprenticeship Service (NAS) funds Apprenticeship
provision across all sectors in England, and allocates funding to
colleges and training providers. For 16-18 year olds taking
an Apprenticeship, neither the learner nor the employer has to pay
for the training.
For 19+ year olds taking an Apprenticeship at any level, the
employer will typically pay 50% of the cost of the programme.
Who develops
Apprenticeships?
The Financial Skills Partnership (FSP) develops Apprenticeship
frameworks in the financial services sector. They do this in
consultation with professional bodies such as the CII and sector
employers. For more information visit www.fssc.org.uk.
Why take an Apprenticeship?
An Apprenticeship in Providing Financial Services offers many
benefits:
- Apprenticeship training is free for Apprentices below 19 years
old at the start of the programme, freeing up training budget for
other activity.
- Apprenticeships typically take 12-18 months to complete so are
useful recruitment and retention tools
- Staff who have completed the Advanced Apprenticeship in
Providing Financial Services can apply to use the designation 'Cert
CII' providing a means of demonstrating educational achievement to
the public and to peers (CII membership and Continuing Professional
Development requirements apply).
- Apprentices receive high levels of support from the delivery
team
- The content of Apprenticeships meet the regulator's training
and competence requirements
- Anyone over the age of 16 who does not hold a degree is
eligible to study for one
- Allows for specialisation, rather than a 'one size fits all'
programme
- All exams are available online and on-demand, with results
provided instantaneously
- A 'Record of Achievement' is awarded for each CII unit passed
and a 'Certificate in Insurance' is awarded upon completion,
providing portable and permanent evidence of learning undertaken.
Learners also receive an Apprenticeship award upon completion
- Forms part of logical progression of CII qualifications.
Progression
routes
Staff who have completed the Intermediate Apprenticeship in
Providing Financial Services can progress to the Advanced
Apprenticeship in Providing Financial Services.
Staff who have completed the Advanced Apprenticeship in
Providing Financial Services will hold the Certificate in Insurance
qualification, and can progress to the CII Diploma in
Insurance.
Who should take
an Apprenticeship in Providing Financial Services?
- Anyone wishing to gain a broad understanding of insurance
principles, key disciplines and products
- Employees who have no formal insurance qualifications but wish
to objectively demonstrate insurance knowledge and
understanding
- Anyone working in specific technical claims handling or
underwriting roles within a call or service centre environment
- Insurance staff employed in support functions such as human
resources, marketing, IT and finance, wishing to develop an
understanding of the industry in which they work
- Staff working for an organisation whose primary business is not
insurance, but which offers insurance advice and products as part
of its overall service to customers
- Providers of services to insurers or insurance
intermediaries
- Anyone wishing to gain a professional qualification and a
competence qualification to acquire knowledge and benchmark
competence
Apprenticeships in Northern Ireland,
Scotland and Wales
If you are based in Northern Ireland, Scotland or Wales and wish
to find out more about Apprenticeships, please contact CII via the
details below.
Next steps
If you are interested in being an Apprentice and would like to
apply for an Apprenticeship programme, please visit the
Apprenticeship Vacancy Matching Service website to check for local
opportunities.
If you are an employer and would like to offer Apprenticeships as
part of your workforce development, please email discover@cii.co.uk
for more information.