Why the London market needs a joined-up approach to attracting talent

The insurance industry, and particularly the London market, is in a far stronger position when it comes to attracting fresh talent than it was a decade ago. That’s worth celebrating, writes Wiser Academy managing director and CEO Crescens George.

There’s no question that significant strides have been made: initiatives such as the Futures Academy, along with impressive apprenticeship schemes run by firms including Marsh and Howden, are all driving fresh faces into the industry.

Just this year, Wiser Academy signed up 11 school leavers for an apprenticeship programme at one of these brokers, all of them eager to start an exciting career in insurance. These initiatives, and the response from young people, are something that would have been unimaginable 10 to 15 years ago.

The momentum is clear, but there’s still an elephant in the room: it’s all a bit disjointed and individual efforts are often fragmented. There’s real opportunity here to harness this collective energy and maximise its potential through a more coordinated, joined-up approach.

Let’s face it – the market has a common challenge when it comes to attracting and retaining diverse talent. Businesses may compete commercially, but on this front, everyone benefits from a thriving talent pool. It’s that old adage: a rising tide lifts all boats. If the industry can unite behind one larger, louder initiative – while still supporting individual programmes – the results could be transformational.

Plenty of organisations are leading the charge when it comes to talent development. The London Market Group, Worshipful Company of Insurers and Chartered Insurance Institute are already doing excellent work with workshops, webinars and initiatives. Individual businesses have also stepped up to the plate, launching apprenticeships and development schemes that make careers in insurance more accessible than ever before.

But there’s a risk that all of these efforts end up as isolated islands of progress rather than one unified front. Without a centralised approach, some initiatives risk being limited to well-meaning discussions rather than tangible results.

A collective effort would also introduce a level of accountability. Those who may currently be paying lip service to talent development would be encouraged – if not nudged – to take meaningful action on the ground.

Of course, collaboration doesn’t mean excluding smaller players or focusing solely on the big names. Any coordinated effort must prioritise diversity – not just in the talent it aims to attract, but also among the organisations involved. If we want genuine impact, we need voices from across the market: large brokers, MGAs, training providers and SMEs alike.

After all, it’s the variety within the industry that makes it dynamic. The government’s apprenticeship schemes offer a strong example of this, ensuring a balanced representation of small, medium and large businesses on steering groups. A similar approach within the London market would ensure no voices are left out.

At Wiser Academy, we’d be more than happy to contribute. Whether it’s offering our expertise, dedicating resources, or providing trainers to join a steering committee, we’re ready to play our part in driving a united approach to talent development.

The progress we’ve seen over the past decade shows what’s possible in the market, and the opportunity is there. The insurance industry has always been a cornerstone of British commerce, but it can only remain strong if it continues to attract new talent from all walks of life. It’s no longer enough to rely on individual efforts. By working together, the London market can make an even greater impact. The momentum is there. Now, let’s build on it.