Annual Report

2018

Welcome to our year-in-review, in which we look at some of our highlights, key strategic outputs and our financial report.

Your Future, Insured.

The Insurance Institute
2018

Introduction

01 Introduction

At The Insurance Institute, we exist to enable you, our members, to build great careers. We are committed to helping you futureproof those careers, through study and lifelong learning, by working with you and supporting you on every step of the journey.

We are constantly reviewing and updating our material to ensure that it remains current and relevant and that what you are learning is reflected in the day-to-day challenges of your working life.

Professional qualifications require professional support. Our online learning supports are designed to cater for different learning needs and styles. The learning plans, mock exams, summaries and webinars are essential tools for the modern day professional learner and allow you to navigate the journey at your own pace and in a timeframe that works for you.

As we go up the qualifications ladder, the learning challenge moves from a focus on acquiring knowledge to the application of that knowledge, to critical thinking and problem solving. Accordingly, we are in the process of moving our MDI programme from the traditional method of examinations to continuous assessment. We will have changed the advanced modules by July this year and the remainder by the autumn of 2020.

We will continue to put our members at the heart of our business, working closely with our local institutes across the country. We are determined to extend the range of our qualifications and our CPD, reinforcing our offerings and developing new partnerships to help you get the very best value from your membership.

Education holds the key to business growth and personal development. As your institute, we want you to be confident that your future really is insured.

Dermot Murray
CEO

Dermot Murray
We will continue to put our members at the heart of our business, working closely with our local institutes across the country.

Key Achievements

A year of change - forging new partnerships while embedding increased quality and compliance standards across the business.

02Key
Achievements
of 2018

Commitment to quality

Commitment to quality

2018 saw us continue our commitment to quality management with our implementation of changes related to the General Data Protection Regulation (GDPR) before the May deadline and our transition to the latest version of ISO Quality Management System certification: ISO 9001:2015 in Q2.

Read more
A new education partner

A new education partner

In September 2018 we entered a new era of educational partnership – as we prepared for the opening of exam registrations, we were also preparing for the start of our new accreditation partnership with IT Sligo.

Read more

Other Notable Highlights

03 Other Notable Highlights

Here is a snapshot of what else happened this year.

Notable Highlights

The Apprenticeship Programme

As our first ever cohort entered their final year, we were again delighted that the programme continued to go from strength to strength, with 2018 being one of the strongest yet in terms of take up and results. Visit the website to find out more about the programme.

Go to earnandlearn.ie
196
apprentices now enrolled

From school leavers to career changers, our apprenticeship programme intake for 2018 resulted in 78 new recruits coming on-board across the country. The practical work based learning programme appeals to young and mature alike, providing an attractive way of obtaining a degree for those who might have previously thought it wasn’t for them.

50
employers engaged

With a significant uplift of interest in 2018 from employers, insurance organisations of all sizes and from across the country reaped the benefits of hiring apprentices. From retention of talent to bridging skills gaps, if you are interested in boosting your business, this could definitely be the solution for you.

1,800
registrations of interest

Building on the 1,000+ registrations of interest received in 2017, this year’s campaign attracted 50% more as interested parties engaged with us across social media and after hearing about the scheme through radio and press interviews.

Notable Highlights

Membership Stats

Recent years have witnessed a slower growth rate in the overall level of members but the upward trend in the level of graduate members continues apace as more members achieve recognised status through the completion of our qualifications.

1.8%
year-on-year increase in membership
4.8%
increase in qualified members
11,119
members with CPD requirements
Notable Highlights

Core business activity

At our core is the provision of a solid structure of education and CPD products to our members across the country. Here are some of the highlights.

Find out more
7,327
exams taken
190,000
CPD hours completed
62.5
hours of e-learning available

Other Notable Highlights

Notable Highlights

Local Institutes

With members located throughout the country, our network of regional Local Institute hubs provide a wealth of support to them via an extensive range of CPD events, networking and social activities throughout their careers.

  • 5,584members attended events across the country
  • 2,173graduates conferred
  • €58,431raised for charitable causes
Through our programmes, we aim to provide our members with the technical knowledge and uniquely human qualities of creativity and critical thinking that will help to futureproof their careers.

Philip Bradley, CEO, AXA Group and National President 2018-2019
Notable Highlights

The Insider

1,091

subscribers in 2018 and growing

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Strategic Update

04 Strategic
Update

At the end of the first year of our latest Strategic Plan, here is a brief overview of our key achievements.

Helping our members achieve their potential is the basis of our strategy.
  • Our Qualification Pathway

    Our vision is to deliver a clear education pathway that meets the professional development needs of both the industry, and the modern-day learner. 2018 saw us redefine our Management Diploma in Insurance (MDI) offering – an essential component of our pathway. During 2019 and 2020 MDI modules will move to a mixed assessment method that is more flexible and reflective of the modern working environment. The advanced modules will change first, moving to continuous assessment, while changes to the compulsory and diploma level modules will follow.

  • CPD User Experience

    Our new CPD system launched at the end of June 2018. The key driver behind this project was the need to improve CPD user experience, in our online member system, Connect. Since it launched, our members and corporate stakeholders experience a streamlined logging and compliance process, enhanced ability to monitor and track annual progress and improved compliance monitoring (for corporate stakeholders). In addition, the process for accreditation submissions now includes greater visibility of historical submissions.

  • Enhanced Engagement

    It’s vital that we remain connected with our members and key stakeholders. We firmly believe that product development should be driven by customer feedback. In late 2018, we began our ‘Voice of the Customer’ programme – a research initiative that will listen to and analyse member feedback through qualitative and quantitative methods. Research findings will be used to inform the development of products and services that meet member needs.

  • What’s Next?

    As we head into 2019, we will continue to build on the foundations laid during the first year of this 2018-2020 strategy. With strong foundations laid, we will start to deliver on the projects set out. We look forward to working with you and hearing your ideas to keep this Institute focused on our core pillars of Education, Inspiration and Connection.

Did you know?
Our strategic plan is for 3 years 2018, 2019 & 2020.

05 Financials

In the first year of our 2018-2020 strategic plan, our financial performance has exceeded expectations as can be seen in the financial statements available to download below.

See you in
2019

Our Journey

2018

2019

Membership Table
2018

Membership Table 2018

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