3,800 young people take part in CII and PFS virtual work experience
Publication date:
14 October 2024
Last updated:
14 October 2024
The Chartered Insurance Institute (CII) and Personal Finance Society (PFS) have reported that more than 3,800 young people have benefitted from their insurance and personal finance virtual work experience programme during the first year of its operation.
Launched in October of 2023 and 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, almost 1,400 students have engaged with the insurance programme, while the personal finance programme has attracted over 2,400.
The virtual nature of the programme removes traditional socio-economic barriers to work experience. This is reflected in course enrolment, with insurance being 48% female, 63% from diverse ethnic backgrounds, and 22% eligible for free school meals. The figures are broadly similar for those who have registered with the personal finance content programme, with 44% female, 66% from diverse ethnic backgrounds, and 22% eligible for free school meals.
Claire Bishop, Career Partner Manager at the CII, said: “We curated this interactive, experiential programme with Springpod to help young people learn about the world of insurance and financial planning. We’re giving an opportunity to young people to experience the professions first-hand, understand the skills and characteristics needed to be successful, and make informed decisions with regards to their career paths. We want to communicate how diverse the professions are, and dispel a few myths along the way. It is clear that most people do not comprehend the variety of opportunities available, or how interesting and important the sector is to business and wider society. We have big ambitions to change that.”
Through virtual modules, quizzes, activities, webinars, discussions, and roundtables, participants gain foundational knowledge of insurance and financial planning, and the various pathways available across the two professions. The programme is free and open to anyone aged 13 or above, and available in an on-demand format.
One participant shared the following feedback: “This programme really helped me to develop skills through the projects provided, and this experience allowed me to have a greater understanding of this sector, and I now know all the different possible career paths, and what I need to work for to achieve them.”
In 2025, the CII plans to offer in-person experiences for the most engaged participants in the programme, including a careers insights day and in-person work experience opportunities.
Springpod CEO, Sam Hyams, said: "We're delighted to be supporting the CII in their mission to bring accessible work experience to young people across the UK looking to understand more about insurance and personal finance careers. In both the insurance and personal finance sectors it's possible to have really significant positive impacts on people's lives, and giving the workforce of the future a chance to explore these careers earlier on in their decision-making journey will help bring the best talent into the industry. After reflecting on a very successful first year of the project, we look forward to what we achieve together between now and 2027."
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.