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Protection academy to launch next year

by: Cover
  • 22/10/2010
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A national independent protection training academy has been formed by the Protection Review and Personal Finance Society (PFS).

The two organisations are teaming up as part of a new campaign to improve knowledge and understanding of the industry at all levels.

Although not exclusively aimed at advisers, it is hoped the academy will encourage more brokers to enter the protection market and raise the standards of those already involved.

Training will cover all aspects of the market on an interactive basis including products, underwriting, claims, regulation, sales and technology and will make relevant reference to any current or future protection qualifications.

The campaign will be launched at the beginning of 2011 with a series of trial events before expanding nationwide.

Peter Chadborn, principal of CBK Colchester, believes the development is long over due.

“With the exception of some good provider seminars and marketing material there is precious little protection-focused training available in the industry,” he said.

“Individual provider seminars are very welcome although they tend, naturally, to promote the wares of the host. There is therefore a need for well-informed, broad-ranging independent protection training, hosted by an unbiased source.”

Fay Goddard, chief executive of the Personal Finance Society (PFS), said the organisation is always keen to support initiatives designed to improve the quality of advice and was keen to underline the independence of the events.

“Co-funded by insurers and re-insurers the sessions should begin early in 2011 and will be open to anyone to attend including intermediaries, para-planners and life office staff, as well as the media,” she said.

“Although product providers will be welcome to attend, they will not present nor influence the content of the training, which will remain independent and will be delivered by a range of presenters including intermediaries, independent experts and the Protection Review team,” she added.

Kevin Carr, chief executive of the Protection Review, explained that the project’s independence was a key principle.

“One of our key aims is for this training to be delivered by independent experts, including intermediaries, with the core purpose of improving knowledge and understanding of the protection industry, without promoting any specific products,” he said.

“We are currently building the training content and would welcome any ideas and input from across the industry,” he added.

 

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