Strategic priorities
Annual Report 2022
Progress in 2022
In 2016, we took the first steps to evolve the CII by giving it the tools to function in the modern world. At the same time, we introduced a number of strategic measures which we have since reported on annually.
These have been critical to the Board’s benchmarking of our progress, and delivering against our strategy. This is the last year that these measures will be reported against.
Following the consultation process undertaken in the last quarter of 2021, we have now designed and communicated our strategic plan for the next five years.
Accompanying this plan is a new set of quantifiable measures against which we have set benchmarks. Our performance against these new measures will be reported against annually in a transparent way.
TREVOR EDWARDS,
Finance Director of the Chartered Insurance Institute
2022 performance against strategic measures:
One of the two “Pride of place” measures introduced six years ago is no longer measured (as we completed our relocation and adopted Anytime/Anywhere working practices) but the other nine measures have been updated on an annual basis to reflect the progress that we are making.
Public Trust: 0-8-1
Every year the CII’s Public Trust Index surveys 1,000 consumers and 1,000 small businesses to find out how important nine measures of trust are to consumers; and how well insurers are meeting their expectations. We then group our findings under three headings: “maintain”, “improve” and “urgent action”. In December 2022 there were none of the measures in “maintain”, eight in “improve” and one, loyalty, was still in the “urgent action” space. The aim over time is to move the measures into the “maintain” space. (December 2021: 0-8-1).
Building a united profession: 22,931
Total number of individual members holding one of the CII’s Chartered titles: Chartered Insurer; Chartered Insurance Broker; Chartered Insurance Practitioner; Chartered Insurance Risk Manager; Chartered Insurance Underwriting Agent and Chartered Financial Planner. (2021: 22,693).
Relevant learning: 15,942
Volume of new individual learners purchasing study materials, exams or coursework with no known purchase history for the previous five full calendar years (2021: 13,955).
Engaged membership: 122,117
Membership (2021: 123,879)
Insightful leadership: c.114,000
People attending CII events that promote the profession to new talent (2021: c.138,000).
A great big world: 8%
Percentage of Group revenue from outside the UK (2021: 9%).
Service effectiveness: 60.72
We have adopted the Institute of Customer Service (ICS) satisfaction index (UKCSI) to benchmark customer survey results. Our latest position was 60.7 (2021: 75.2). This result reflects the challenges we faced prior to the major upgrades in early 2023 and how our customers were impacted. Our strategic plan commits to further improving our overall technology and service proposition. We are confident that this will be positively reflected in our 2023 result.
Made simple: £196k
Revenue per full-time employee (2021: £174k)
Pride of place: 69%
In 2022 we achieved an average of 69% of colleagues responding favourably to questions across six broad categories – communication and collaboration, culture, performance and development, reward and recognition, leadership, and engagement. The results reflected a more challenging year with ongoing investment in IT systems, a buoyant and highly competitive labour market and a change of leadership. Progress continues to be made on IT systems, a permanent CEO is now in place and we continue to monitor and action improvements on a regular basis (2021: 77%)