Youth’s at a premium
APPRENTICESHIPS and insurance services – not the most obvious combination, but it was the career springboard for broker Simon Lancaster and now the bedrock of his business.
SJL Insurance is primarily a property specialist supplying cover, including cyber, for firms worldwide from security operators to hotels and oil rigs.
Over the last 15 years it has welcomed 26 apprentices into the fold, offering paid placements with business administration training programmes, followed by full-time positions.
With a £24million turnover target this year and 20 per cent annual growth, the young people’s contribution to SJL is vital to its success, explains Worcester-based owner Lancaster.
“White collar apprenticeships like these are still unusual, but they can open the way for those not able to study immediately for a full-blown professional qualification and they bring more talent into the sector.
“I was an apprentice with a broker. It gave me the experience I needed so when I was made redundant I was aware of the opportunities. I set up my own business with £500 from
“We’re only as good as the people we recruit”
Worcester Chamber of Commerce, and have never looked back.”
While university works for many it is not for everyone says Lancaster and Sarah Harker, 21, a former SJL apprentice who is now an accounts management staffer there.
“I didn’t want debt after three more years of study,” she says.
“I wanted to get experience of the world of work, be on the ladder. I saw that different route during my A-levels when I went to a employers’ recruitment open day at college.”
After her 15-month course with online training and on-site assessments, she has a business administration NVQ: “I learnt about customer service, handling accounts, record taking from meetings, all the key practicalities. I have savings, been promoted, am more confident and can study for more professional qualifications if I choose,” she adds.
Becoming a Lloyd’s broker in 2017 and the opening of a London City office were turning points for SJL, expanding international trade opportunities.
Armed with binding permissions delegated by insurers, it now has more control over pricing, covers and claims. “So a quicker, slicker service all round,” says Lancaster.
Keen to raise awareness of apprenticeships as a viable career option in financial services, he is lobbying for the introduction of a sector specific qualification.
Technology is playing a greater role in risk analysis and how insurance is bought, but selling it to clients requires people and relationships.
“We must never forget,” says Lancaster, “we are only as good as who we recruit.”