The Chartered Insurance Institute will assess firms’ diversity and inclusion as part of an updated Chartered proposition.
CII recently carried out a corporate chartered consultation with stakeholders from the insurance and financial planning professions.
The changes to come out of the consultation are effective from 1 July 2019.
In CII’s Corporate Chartered status – The next 10 years document it explains why the criteria will involve diversity and inclusion principles and what the new criteria will look like: “A focus on diversity and inclusion underpins the continuing relevance of the profession, but we recognise that practices will vary by firm size, type, location and many other factors.
“The CII will introduce an explicit reference to diversity and inclusion in the corporate chartered status criteria. As with the existing references to core values and ethics, it will be principles-based, not rules-based, and will be worded so that it can be flexible according to the situations of different firms.”
The changes come as part of CII’s efforts to relaunch the corporate chartered proposition which is held by 904 firms globally at the end of March 2019.
Other elements of the relaunch include an advertising campaign to promote chartered status, a toolkit for firms to promote the status and making the criteria reflective of a broader range of business models.
The trade body also said it would reduce number of documents needed for application and renewal processes and would move these systems from paper to email.
CII chief executive Sian Fisher says: “We are living and working in a constantly changing world and the role of the insurance and financial planning profession is increasingly important to help safeguard the lives and livelihoods of our society.
“It is my ambition that chartered status achieves parity of esteem with other chartered professions and this refreshed proposition will help us get there.”