Issue 15 - Autumn 2020
With learning comes awareness, and with awareness comes the ability to be able to do things better, to contribute more to the world around you, to enhance your own life and the lives of others. Scientific research has shown that learning can change the architecture of the brain and can lead to a more fulfilled and contented life. Many believe that education and learning are fundamental to life – we never stop learning and obtaining new knowledge, but it’s what we do with this information and our appetite for it that will determine its relevance to us. As Michelle Obama once said, “The person with the biggest impact on your education is you.”
Life-long learning and continuous professional development is the foundation upon which the insurance industry is built. Having a keen understanding of our sector, of the factors shaping and affecting it, and understanding current trends as well as those coming down the line has never been more important, both for the benefit of our customers and our own professional success. We are living through a period of rapid and significant change, the impact of technology on our industry has been momentous and in order to keep up we must continue to invest in our education and learning so as to avoid getting left behind. In a working world where the only certainty is change, it’s essential that we take responsibility for our own continued development.
The benefits of life-long learning are immense. Advancing our skills and becoming knowledgeable on various topics has a direct impact on both our confidence and our ability to do our jobs, but also on our attractiveness as an employee. Business owners across all sectors, not just insurance, now look for employees who have an appetite to learn.
Investing in your learning at every stage of your career is vital - in fact, since 2007, with the Central Bank Minimum Competency Code it’s been a mandatory requirement in insurance. However, while it’s a necessity for our career it’s important that we don’t let it become a ‘tick the box’ exercise. We therefore need to seek out opportunities for learning and development which will inspire us and stimulate our interests. As learning will only be effective and impactful if we’re doing something we find appealing. There has never before been such choice and variety in terms of learning resources, with many accessible remotely, and so when you find something you’re interested in, you can access it from the comfort of your own home!
The recent pandemic has in fact had an impact on remote learning – and surprisingly, a positive one! The European Centre for the Development of Vocational Training (Cedefop) found that with 94% of the world’s population affected by lockdown measures an unintended side effect of working from home is people’s renewed interest and engagement in vocational education and training (VET). By analysing recent search trends for online learning related queries from Google Trends, Cedefop found a clear and sudden rise in searches for ‘e-learning’, ‘online course’ and ‘online training’ in 2020 that coincides with the outbreak of the coronavirus pandemic. Digital learning management systems, communication tools and eLearning platforms have all reported surges since the pandemic began. The rise suggests that the lack of face to face learning opportunities has sparked interest in alternative distance learning arrangements. While this increase in remote learning was born out of necessity, it’s very likely that the way in which we access knowledge and learning could have a long lasting effect. One could surmise that this ease of access to an abundance of resources could only be efficacious for those wanting to invest more heavily in their continued professional development.
Life-long learning – no matter how you access it, requires motivation and a commitment to it is a pre-requisite, particularly while also holding down a day job. For many however, it is simply a passion and one which they couldn’t be without. We spoke with three such people, Dr. Richard Brophy, Dr. Marc Sweeney and Chloe Oram, and we chatted to them about their careers to date, their commitment to life-long learning and why they feel it is the key to success.
Marc has been working in insurance for over thirty years; he has been with Thornton and Partners for over ten years. Marc is a Fellow with The Chartered Insurance Institute (CII). He also has a Doctorate and a Masters in Business Administration.
I think that we need to be conscious that the world around us is always changing, and that this includes our work-world. So much of our challenges in our work life relate to how we frame and makes sense of problems, usually informed by prior understandings and learnings. It is only through education, and critical evaluation, that we can start to unpack prior knowledge and assumptions. Otherwise, one is relying on understandings that may not be suited to the problem at hand. CPD and life-long learning should provoke us and stimulate us to engage with problems and not turn away from them.
Absolutely, I can’t imagine how I would address issues in my role today if I had not constantly updated my knowledge base. Accumulated experience tells us that almost all problems can be resolved, in some way, but it is only knowledge and training that provides us with the appropriate frameworks to select from. From the perspective of a professional, as one develops one’s practice, one’s confidence grows and provides that bedrock of resilience against knock-backs, but again, we do need to be able to change our perspective and to take on the point of view of the other. Thinking in terms of organisational culture, this is a critical faculty to have, as quite often the culture of the organisation is stronger than what any one person can think for themselves, but at the same time we need people to be independent minded and to think outside their own organisation’s specific interests from time to time.
First, you will get there; secondly, if you are taking qualifications, look for opportunities to bring them to life, even if your role at the current time doesn’t always allow for this. In this regard, look for a mentor, who will help you to find the link between your learning and your own internal motivation. Thirdly, acknowledge your achievements, and finally, always look to see what you can bring to your organisation – this will help you direct your professional development goals.
Richard worked in insurance for over ten years, and set up a branch of his family business in Portlaoise (Brophy & Company). He was always interested in the academic side of insurance and works now on developing textbooks and curriculum. He also lectures on business subjects and continues to research and is regularly published in peer-reviewed journals. He holds a PHD from The University of South Wales.
Life-long learning is a continuing and self-motivated pursuit of knowledge which enhances social inclusion, active citizenship and personal development but also self-sustainability as well as competitiveness and employability. While it is a mouthful, you can see how it benefits everyone. I remember speaking to the head of an insurer, and his response was 'education carries no burden'. This is something that I have stood by and maintained through my ongoing educational objectives.
Having undertaken over five professional qualifications over the past number of years, some things have served me well:
For employers, I firmly believe creating a positive learning environment is essential if you want your firm to be at the leading edge of serving your client base and stakeholders. I have seen many insurers do this over the years and also worked with many companies in developing CPD modules for technical and staff training. I would also encourage staff to be developed beyond what is required under the Minimum Competency Code. Again through my experience, I have seen many students undertake further qualifications to become more skilful in their roles and become more empowered in their work. This, I believe, creates a more positive experience for all involved, resulting in a multiplier effect in job satisfaction, empowerment and serving clients and company accordingly.
For individuals embarking on their career in insurance, I would advocate looking at what you want from the industry. You will find over time you may enter one sector and then find you move to another area of the industry for many reasons, both internal and external. In such a move, your previous experience will always be a help to you and any work done in other industries can only benefit you going forward. This in itself reinforces the point of life-long learning in its meaning and how it operates. I would urge you not to see CPD as a chore but an opportunity to learn about unfamiliar areas and inform yourself of other elements of the industry that you do not see on a day to day basis.
Chloe has a Higher Cert in Business Studies, as well as a Business and Management Degree from IT Sligo. She graduated from The Insurance Practitioner Apprenticeship in September 2019 and holds a BA Hons in Insurance Practice. She is a full time Client Advisor with Marsh Ireland.
The apprenticeship gave me a great opportunity to put the skills I was learning from lectures into practice. Being on the apprenticeship programme allowed me to gain first-hand experience, be involved in the day to day running of the business, and build professional contacts within the industry. I think that getting into employment earlier enhances your potential to progress in your career more quickly at a young age. The skills I have learned through the apprenticeship, as well as through on the job training have enabled me to become an essential part of the team at Marsh.
The educational element of the apprenticeship allowed me to develop skills that I could put into practice in the workplace and has taught me how to balance studying while working full time. It has also encouraged me to continue with my studies. I am now currently working towards the MDI qualification.
Yes this is one of the elements of my career that I enjoy the most! I like that continuous professional development keeps your knowledge relevant and keeps your career interesting. I think you gain a deeper understanding of the industry and are more aware of changing trends which enables us to become more effective in our jobs. I really look forward to accessing new knowledge and acquiring new skills so that I can be a greater asset to my team and to clients.
