Professional Standards and Insurance Innovation Melissa Collett, - PowerPoint PPT Presentation

Professional Standards and Insurance Innovation Melissa Collett, Professional Standards Director 12 November 2018

Insurance innovation 2

Agenda • The CII: who we are and what we do • Professional standards: what they are and why they matter • Professionalism in a disruptive era 3

The Chartered Insurance Institute – Who we are and what we do* Owners of the recognised professional qualifications: Award, Certificate, Diploma, Advanced Diploma, Fellowship and Chartered Recruit, Retain & Develop Profession Personnel

CII’s Royal Charter ‘to secure and justify the confidence of the public…in insurance’ 5

It’s all about building public trust 6

Insurance is a promise 7

Elements of a Professional Competence Integrity Care for the customer 8

Competence 9

Competence • Having the right knowledge and skills to perform your role • Having your expertise validated by an independent body • Keeping knowledge and skills up-to-date 10

Professionalism in a disruptive era 11

Competence…? 12

Relevant Learning 13

Understanding machine learning V 14

Big Data’s impact on risk 15

Integrity – Before • Zuck: Yeah so if you ever need info about anyone at Harvard • Zuck: Just ask. • Zuck: I have over 4,000 emails, pictures, addresses • [Redacted Friend's Name]: What? How'd you manage that one? • Zuck: People just submitted it. • Zuck: I don’t know why. • Zuck: They “trust me” 16

After “Across the board, we have a responsibility to not just build tools, but to make sure that they're used for good…. This includes the basic responsibility of protecting people's information, which we failed to do with Cambridge Analytica.” Mark Zuckerberg, 2018 17

Tim Berners-Lee: ‘I created a monster’ ‘The world wide web has evolved into an engine of iniquity and division, swayed by powerful forces who use it for their own agendas’ 18

Care for the Customer 19

Data rights and Transparency 20

Child’s play? “Education on data rights should begin in kindergarten” - Dr Maya Bundt, Swiss Re 21

Cyber Security 22

Personalisation and Big Data 23

The future is automated… 24

Cert CII (Protection) Units explained: IF1 – Insurance, legal and regulatory R05 – Financial protection IF9 – Customer service in insurance Active Cert CII R05 IF9 member of IF1 (Protection) CII 25

A mark of Standards

Contact us Melissa Collett Professional Standards Director Chartered Insurance Institute melissa.collett@cii.co.uk Follow me on LinkedIn and Twitter! https://uk.linkedin.com/in/melissacollett @MelissacCollett • LinkedIn • Twitter