Newsletters Library

BulletTRAIN 1 (October 2005)

Welcome to the first issue of BulletTRAIN, the new training bulletin from Searchlight, the UK’s leading insurance Training & Competence (T&C) services provider.

BulletTRAIN brings you news and analysis on T&C developments across the insurance industry, plus the latest initiatives from Searchlight.

Why train? For the answer, see bottom line

We believe training is key to succeeding in today’s insurance market and not just to satisfy the regulator. But we would say that wouldn’t we? So don’t take our word for it. Instead, here’s the first in our series of BulletTRAIN quotes: “The work we have done on training provision has had a positive impact on the bottom line. We have already seen the benefit in terms of the results we have been able to produce relative to those of our competitors.” Andrew Torrance, CEO, Allianz Cornhill. So it’s not just us who believe that better trained staff means better business performance!

What price ducking the training challenge?

New research from BIBA suggests brokers believe technical training is the industry’s biggest weakness. But paradoxically the same survey found two in five brokers lack even a basic training plan, and one in three provide no training at all.

So what’s stopping brokers training? If the answer is cost, that’s simply not a good enough reason.

There are many ways to deliver effective training without it costing an arm and a leg, e.g. using an online learning resource like Tick or sharing the cost of training with other organisations. The cost of having untrained staff could prove unacceptably high...

Are you ready for the regulator?

Despite committing to training in their FSA applications, many companies are directing resources elsewhere. Other issues, like handling client money and treating clients fairly (TCF), may now be top of the FSA’s list, but it won’t be long before the spotlight falls on T&C (and not just on technical insurance knowledge, but on management, team leadership and general business skills).

The FSA’s mystery shopping programme is up and running. For now they are focusing on payment protection insurance. But it surely won’t stop there. So don’t wait to be pulled up on failed T&C promises in your application. Put theory into practice now, and steal a march on less professional competitors.

Trainer profile: Dave Hancock

In each edition of BulletTRAIN we will be profiling one of more than 50 specialist trainers and authors who work with Searchlight, all of whom have hands-on insurance industry experience. Dave Hancock came to Searchlight following a long and successful career in underwriting management with Royal & SunAlliance.

He has a BA Hons in Economics and his professional qualifications include FCII, and OU Business School credits in Managing People and The Effective Manager. He is also a tutor on the Dale Carnegie Human Relations & Public Speaking course. He currently leads a wide range of commercial property and liability training courses.

Dave says: “As a trainer with Searchlight, I get a real sense of satisfaction from seeing the people I train grow in confidence and competence with the additional knowledge and understanding they gain through our training sessions.”

Training on target

Effective training is about quality not quantity. Aimless training won’t satisfy the regulator, and it won’t help build a stronger business for the future. That’s why we recommend a training needs analysis to make sure your training programme supports specific business needs and objectives.

Our consultants will come in to discuss your business priorities and identify the level of skills and knowledge your people need in the competencies required for their roles. We review business background, staff profile, priorities, performance standards, knowledge and skills assessment, and individual needs. We<

< Back