Starting from the Beginning: Designing an Effective Induction Programme

Designing an induction programme for somebody who’s new to an industry can be a daunting task – particularly in a field that is as tightly regulated as insurance broking. There are so many aspects to consider – from the basics of what a broker is and does, to the role of the FCA and its requirements about the way in which business is conducted right through to the product-specific knowledge needed in order to carry out their role.

So where do you start?

A good induction programme should provide a sound base to work from as the inductee gains more practical experience and develops a much deeper understanding of their role, their clients, and the products they handle.

Insurance broking, for instance, is governed by a number of core principles and values, as well as a strong regulatory and legal framework, so this is something that would need to be considered. To understand how the insurance industry works, a new starter will first need to understand the way that it is regulated. It is important for new starters to keep up to date with any developing trends and the latest regulatory changes – most recently for example, the Consumer Duty.

Learning and Development

As part of any induction process, CPD – Continuing Professional Development – can be recorded for any learning activities completed. A CPD record will help keep track of the inductee’s progress, providing evidence of their work and serving as a reminder of any areas where they need to develop their knowledge further.

CPD is a regulatory obligation with 15 hours per year across eight core competencies required under the IDD. Therefore, it’s good to get into good practices early.

The induction process for a new role should be viewed as an opportunity to develop the skills and knowledge necessary to provide the best possible start. It is not necessarily going to be the same as for other people starting in similar roles, as an individual will naturally bring their own experiences and prior knowledge. 

Induction is not so much something to be completed and then forgotten about, but a beginning – the start of a journey into a new role. A good induction process will provide a sound base for future learning and professional development.

If you are interested in learning more, the Development Zone has a range of courses related to topics we have touched on in this article including induction modules for learners who are new to the industry.

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