Insurance Museum calls on industry for more support in promoting sector careers

The Insurance Museum has called on the insurance industry for more financial support to help the charity in its aim of putting a career in insurance on the map.

Speaking at an event held by the charity at the beginning of the month (1 October 2024) in the ABI offices near Fenchurch Street, Howard Benge, director at the Insurance Museum, told attendees: “Our agenda for next year and onwards is that we really want to get an education programme up and running.

”The biggest influence in a child’s choice of careers is their teachers, but also their families.”

“We want a permanent [insurance] museum, that’s the long-term aim for us. The only way that we can do this is to get financial support from the insurance community. It’s so important to us, we can keep going on grants but if we really want to expand and reach young people across the country we need support.”

The charity is currently in talks with developers about a small venue in EC3 big enough for a school group to attend, so that it can run events, exhibitions and workshops.

It also has plans to launch a podcast for teachers to help them understand insurance.

Currently, the charity has set up virtual museums, which mainly focus on the history of the insurance fire brigades.

Benge added that charity had applied for funding, but that he hoped that the insurance industry would express interest in the Insurance Museum’s plans by becoming a regular paid trustee, donating, becoming an ambassador, becoming a sponsor or by introducing key people in the market.

Insurance as a career 

One major supporter of the Insurance Museum over the years has been Bronek Masojada, current sheriff of the City of London and former chief executive at Hiscox.

Masojada told attendees: “I have supported the Insurance Museum since it began. The challenge is simple, I don’t see the Insurance Museum as a museum, I see it as an ‘inspiring careers in insurance’ place.

“If you look across the room, none of you ended high school or university saying ‘I want to be in the insurance sector’.

”Most of us got here by mistake. There’s a huge talent shortage in the insurance sector [but] there’s only one group to blame – ourselves – because we haven’t inspired people outside of the industry.”

He also urged the industry to support the charity., 

Since 2020, when the Insurance Museum was established as a charity, it has accrued eight trustees.

Benge spoke of how he was “amazed” by the history of insurance.

He continued: “Every aspect of our lives, from the moment we’re born in fact, we’re covered by insurance, right through to when we die.

”But the most amazing thing [is] that nobody knows this. Our job is to just push that narrative [so that] you’ve got six to eight year olds encountering insurance.”