Is the industry doing enough to attract care leavers?

The challenges around attracting young talent to the insurance industry are well known – and the sector has devised various methods to solve these issues.

Multiple initiatives focus on students thinking about what their careers could be. For example, the Chartered Insurance Institute (CII) launched a virtual programme in August 2023 for pupils aged 13 and older, complete with interactive modules, quizzes, webinars and roundtables.

However, approaches such as this primarily benefit those already engaged in education.

And one group that is often overlooked but holds significant potential is care leavers — young people who have grown up in the care system.

Care leavers — whether placed in foster homes, residential care, or under local authority supervision — are often at risk of missing out on education due to frequent relocations, behavioural issues and limited access to educational support.

According to the Looked After Children Who Are Not in School report, published in May 2023, 2.7% of children in care – approximately 1,370 of the 50,846 young people studied – are not attending school.

Simon Connolly, performance and leadership excellence manager at Zurich UK, noted that industry outreach often focuses on schools or charities but tends to overlook young people in care.

Branko Bjelobaba, principal at Branko, added: “What is the industry doing to reach out to mainstream schools and to those kids also in care or looked after and not even in school?

”How are we collectively helping kids from disadvantaged backgrounds to make a better life for themselves?”

Charity partnerships

Meanwhile, Nicola Silvester, sales operations consultant at Zurich Municipal, who grew up in the care system, explained that “it is important for children in care to see individuals with similar backgrounds achieving successful careers in the financial services industry”.

Charity partnerships can be key in achieving this. For example, SRG has collaborated with LTSB – which works with “with the lowest 25% economic households in the UK” – for the past two years, accepting a cohort of 12 participants suggested by the charity who are in their late teens or early twenties and looking for their first job outside of the retail sector.

Meanwhile, Zurich Community Trust – the charitable arm of Zurich UK – works with youth homeless prevention charity Step By Step, a charity which helped Silvester during her teens.

And in 2024, the insurer teamed up with Circl, an initiative that connects young people from underrepresented backgrounds –including care leavers – with career opportunities.

Circl stood out to Zurich UK for its focus on coaching, helping industry professionals and young participants develop key skills.

Silvester said: “I firmly believe that the insurance industry and, Zurich in particular, is an excellent place for someone who has had a more difficult start in life.”

Connolly added: “These are people who are very hungry, engaged, enthusiastic, keen to learn.

”And all they really ask from you is time. You get to a stage in your career where that’s something you should be willing [to do] and able to give freely.”

Opportunities

Circl has been working to create pathways into sectors like insurance for young people, many of whom are not in formal education.

Through its partnership with the Care Leaver Covenant, a government-backed program that supports young people transitioning out of care, Circl has broadened its outreach. For example, youth centres and group homes now display Circl posters.

This collaboration allows young care leavers to access opportunities at firms like Zurich, even without a traditional education.

One care leaver told Insurance Times: “Coaching can help care leavers recognise the power they have, something they may not have realised due to their life experiences. It can change how they view themselves and give them a space to dare to dream.”

Charlie Stainforth, co-founder of Circl, added: ”Young people in care or those who have recently left care often lack exposure to industry talks and networks that might open doors in sectors like insurance.

“The insights these young individuals bring to the table have often been more impactful than those offered by paid executive coaches.”

Connolly concluded: “We believe that backgrounds should not define potential and that everyone should have equal access to opportunities that enable them to reach their full potential.

”For us in the industry, this means re-evaluating selection processes, ensuring access to training and development and fostering an inclusive culture.

“Stay curious and open-minded. Attend industry roundtables, ask questions and explore partnerships through brokers or direct research. Sometimes, unconventional approaches yield the best results.

“It’s vital for the industry to be proactive in reaching untapped talent pools, showing them that insurance is more than what they might assume.”