Davies aims to 'fill skills shortage' in insurance through new deal

Davies’ new partnership with Ucas will provide ”a real opportunity to tap into the best young talent the UK has to offer”.

That was according to Carolyn Blunt, vice president of talent solution at Davies, who said the partnership would make a career in the insurance industry “as attractive as possible” for youngsters.

Last month (16 August 2023), the professional services and technology business said it was partnering with Ucas to reach ”millions of young people looking for post-secondary school education opportunities and introduce them to the insurance and financial services world of work”.

The partnership aims to attract young talent into the industry through Davies’ apprenticeships, which offer on-the-job experience, the chance to gain accredited qualifications and support.

Students will also get access to industry coaches and the Thrive Professionally with Davies, Davies’ social learning experience community.

“[We are doing] this is to ensure that a career in insurance is as attractive as possible and that engagement and retention becomes easier in the long-term,” Blunt said.

”To future proof the industry, we need to help young people to imagine a long-term career in insurance as a realistic opportunity.

”Through [Davies’] partnership with Ucas, [we are] raising the profile of roles within the sector and, crucially, demonstrating clear development pathways [through] structured apprenticeships.”

Skills shortage

According to a report published by the London and International Insurance Brokers’ Association’s (Liiba) earlier this year (12 June 2023), some 75% out of more than 50 brokers think insurance provide interesting work.

The report, entitled Our face-to-face future, also noted that over half (58%) believe the insurance industry valued young people and wanted to develop them for success.

However, according to figures published by Aviva last year (3 May 2022) for the insurer’s Broker Barometer, more than half (53%) of brokers revealed that a vacancy had been open for four months or more.

The data was taken from a survey of 220 professional brokers across the UK, conducted on behalf of Aviva by Censuswide Research between March and April 2022.

Blunt said Davies’ new partnership would give students the chance to “see what working in the insurance and the finance industry is really like”.

“It will also help fill the skills shortage we are already seeing,” she added.