Airmic’s new fastTrack scheme aims to accelerate the careers of those new to risk. Kathryn Wallin gives us a preview ahead of its launch in the New Year
Airmic’s fastTrack initiative – which aims to support the new frontier of risk managers – is due to launch in January, and with only two months until its arrival, the association has been hard at work to finalise the details.
Targeted at inexperienced risk managers and those who have recently acquired risk or insurance responsibilities, fastTrack promises to provide a comprehensive learning programme comprising an education syllabus, learning resources and networking opportunities.
The aim is clear, to help accelerate the careers of those new to risk. And with talent management a number one challenge, the initiative could provide the solution the industry has been waiting for.
“Brokers and insurers are actively exploring ways of retaining talent, looking at creative opportunities to get new talent from the bottom up,” says Kathryn Wallin (pictured) chair of the fastTrack programme. “But the skills required to get to the top of our profession is going to be different in 10 years’ time. With our fastTrack initiative, we aim to point our members in the right direction.”
“The scheme will provide a supportive environment that will help members identify what it would take to be the next risk management corporate leader in 10 years’ time. We need to wake up to what businesses want in the future.”
The initiative was quickly put into action after Wallin, who is also senior manager (insurance) at Marriott Hotels, gained the support of the association’s chief executive John Hurrell and its board members. A working party was established and working with Airmic’s learning and development committee, the group’s first step was to engage the views of its wider membership through an online survey.
The feedback was positive. The group found that 70% of respondents were aged 30 or over and had worked in the industry for fewer than five years, and an additional 83% were interested in developing their professional network. “There is definitely a gap in the market and a real opportunity to engage with a different set of our membership,” says Wallin.
However, she adds: “It is not just young risk and insurance professionals whom we’re looking to engage. As a result of the economic downturn, big corporates have been cutting back on their workforce and redeploying risk and insurance responsibilities to other members of staff. fastTrack could really help those professionals who have recently acquired new risk and insurance responsibilities.”
With the backing of its members and other corporate partners, the working party has started to build fastTrack’s education syllabus.
Leveraging elements of Airmic’s mentorship programme, the syllabus seeks to provide foundation courses in risk and insurance, looking also at areas such as soft skills, presentation, business literacy and negotiation.
A new set of learning resources is being discussed, and the group is assessing the best methods of reaching out to the targeted group, with webinars and face-to-face seminars firmly on the cards.
Networking events will also be a key feature and there will be plenty more opportunity to make new contacts at the association’s annual conference. As such, the group is currently looking at ways to help new entrants gain the full benefits from such sessions. A ‘buddy’ system, for instance, which teams up new entrants with an experienced risk manager or a pre-conference induction event, is one of the options that are currently being explored.
Work is still under way, but Wallin is hopeful that the scheme will be a success. “I fundamentally believe that fastTrack will have a lot of substance. There will an education syllabus, inspirational talks, learning resources and career support, all of which will be delivered in an environment where individuals can explore and upskill within their peer group.
“Airmic has been extremely successful in the past 50 years, and to continue its success into the next five decades we’ve got to wake up to what people will want in the future.”
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