The governing board will comprise 13 people including employer and consumer members. The council will take on a new function representing members’ views and will be expanded from 49 to 65 members.
The CII says the changes are part of its modernisation programme to deliver a more relevant professional body for the benefit of members, employers and consumers.
President Ian Templeton says: “It is without doubt one of the most significant milestones in the CII’s history. The new structure will enable us to be more representative and so expand our influence in the global financial services and insurance communities.
“Now that members have given us the go-ahead, the CII will be able to deliver a fully representative council and a more inclusive board meeting best practice governance standards.
“This will make way for quicker and much more efficient decision-making. Change was essential and our members recognised that.”