Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • March 2014
03

IFoA launches apprenticeship qualification

Open-access content Wednesday 5th March 2014 — updated 5.13pm, Wednesday 29th April 2020

The Institute and Faculty of Actuaries is launching a new apprenticeship for school leavers to help them find work in technical and analytical support roles

Starting later this year, the training scheme will provide apprentices with an internationally recognised Certified Actuarial Analyst (CAA) qualification as well as on-the-job-training. The IFoA said it would take around two to three years to pass the qualifying CAA examinations.

'This is fantastic news for young people in the UK,' said IFoA chief executive Derek Cribb. 

'The CAA recognises that employers need to professionalise staff in their growing pool of technical, analytical and actuarial support roles.'

The IFoA's apprenticeship scheme is being launched in National Apprenticeships Week and comes as Prime Minister David Cameron announced a shake-up of apprenticeships. The 'Trailblazer' scheme will give employers greater control and clearer standards against which they can measure progress.

Cribb said: 'A series of exciting new apprenticeship opportunities in financial services is opening up and Trailblazing employers who sponsor their apprentices through the CAA examinations are offering young people a professional qualification that will have international recognition.'

A list of supporting actuarial employers include: Aon, Barnett Waddingdam, Grant Thornton, JLT, Mercer and Munich Re.

The institute noted that professionalising technical roles was nothing new, highlighting roles such as paralegals and paraphysicians in the US, but in the actuarial field, while a number of successful technical qualifications already exist, none drew on actuarial science. 

Cribb continued: 'We see the career path of our future CAA as being particularly flexible. Their skills will have relevance not only to traditional actuarial sectors such as insurance and pensions, but also to other financial sectors and a far broader corporate world.'

Also joining the Trailblazer apprenticeship scheme were partners in the insurance and risk management industry, including the Chartered Insurance Institute, the Association of British Insurers, the British Insurance Brokers Association.

ABI Director General Otto Thoresen said: 'The UK's insurance industry's worldwide reputation is built on the skills and expertise of its workforce. 

'Bringing in new talent is essential and this new apprenticeship initiative will help encourage young people to join the industry and ensure it continues to play a key role in the fabric of people's everyday lives.' 

The new trailblazers are made up of more than 29 sectors covering areas such as: health, law, media, hospitality and tourism. 

National Apprenticeship Week ends on March 7.

This article appeared in our March 2014 issue of The Actuary .
Click here to view this issue

You may also be interested in...

Zimbabwe seeks support from actuaries

Wednesday 5th March 2014
Open-access content

IFoA: Scottish independence debate

Wednesday 5th March 2014
Open-access content

IFoA: Telomeres to testosterone

Wednesday 5th March 2014
Open-access content

IFoA: Disciplinary Tribunal Panel

Wednesday 5th March 2014
Open-access content

IFoA: Actuaries in the limelight

Wednesday 5th March 2014
Open-access content

IFoA: Professional skills

Wednesday 5th March 2014
Open-access content

Latest from Careers

yguk

Is anybody out there?

There’s no point speaking if no one hears you. Effective communication starts with silence – this is the understated art of listening, says Tan Suee Chieh
Thursday 2nd March 2023
Open-access content
ih

Actuary and… police officer

In a new feature highlighting the wide-ranging pursuits actuaries do outside their day job, we meet Reema Uppal, who trained with the Met
Wednesday 1st March 2023
Open-access content
Web-city-at-dusk-shutterstock_549687475.jpg

Rising in the East

Head of business acceptance and chief pricing actuary, Asia Pacific, SCOR, Hong Kong, CHINA
Wednesday 1st March 2023
Open-access content

Latest from March 2014

2

European insurers 'ready for Solvency II'

Almost 80% of European insurers expect to fully meet all Solvency II requirements before the January 2016 deadline, according to financial consultants EY.
Monday 14th April 2014
Open-access content
ta

BRICs countries 'face heightened political risk'

All five of the emerging-market BRIC countries will face increased political risks this year, according to analysis by Aon Risk Solution.
Friday 11th April 2014
Open-access content

DWP halves auto-enrolment opt-out forecast

The Department for Work and Pensions has slashed its forecast of how many people it expects to opt out of auto-enrolment by half.
Friday 11th April 2014
Open-access content

Latest from no_opening_image

TPR publishes coronavirus guidance

The Pensions Regulator (TPR) has published guidance to help UK pension trustees, employers and administrators deal with the financial and regulatory risks posed by coronavirus.
Monday 23rd March 2020
Open-access content
web_p24_cat-and-fish_iStock-483454069.png

Sensitivity analysis: swimming lessons

Silvana Pesenti, Alberto Bettini, Pietro Millossovich and Andreas Tsanakas present their alternative approach to sensitivity analysis
Wednesday 4th March 2020
Open-access content
ta

IFoA adjudication panel: Mr Jack Wicks, student

On 30 October 2019 the Adjudication Panel considered an allegation of misconduct against Mr Jack Wicks (the respondent).
Friday 28th February 2020
Open-access content

Latest from 03

2

European insurers 'ready for Solvency II'

Almost 80% of European insurers expect to fully meet all Solvency II requirements before the January 2016 deadline, according to financial consultants EY.
Monday 14th April 2014
Open-access content
ta

BRICs countries 'face heightened political risk'

All five of the emerging-market BRIC countries will face increased political risks this year, according to analysis by Aon Risk Solution.
Friday 11th April 2014
Open-access content

DWP halves auto-enrolment opt-out forecast

The Department for Work and Pensions has slashed its forecast of how many people it expects to opt out of auto-enrolment by half.
Friday 11th April 2014
Open-access content
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Life Actuarial Contract - Capital Project (outside IR35)

England
Negotiable
Reference
149010

Pricing Consultant (Non-Life)

London / Leeds
Up to £70,000 + Benefits
Reference
148996

Senior Actuary

London (Central)
Negotiable
Reference
148991
See all jobs »
 
 
 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ