Foundational learning is a key focus for professionals in insurance and risk management, according to The Institutes Knowledge Group’s annual Skills Report. This report highlights the importance of education in areas such as risk assessment and insurance operations.
In 2024, over 182,000 courses were completed by learners in the industry, with many pursuing more than 13,000 designations. The findings show a strong interest in courses that help build essential skills. The most popular course was the Associate in Insurance, which covers the basics of insurance. Leadership training also remained in demand, with the Chartered Property Casualty Underwriting course ranking among the top ten.
The report outlines the top subjects that professionals are eager to learn about this year. These include:
- Insurance Fundamentals
- Communication and Collaboration
- Leadership and Strategy
- Data and Security
- Claims Management
- Risk Management
- Commercial Insurance Fundamentals
- Business and Financial Management
- Personal Insurance Fundamentals
- Legal and Compliance
Organizations can use this information to create effective learning paths for their employees, from entry-level positions to management roles. Engaging employees early in their careers and supporting their growth can help businesses prepare for future challenges.
The most sought-after designations in 2024 included:
- AINS – Associate in Insurance
- CPCU – Chartered Property Casualty Underwriting
- AIC – Associate in Claims
- ARM – Associate in Risk Management
- AIS – Associate in Insurance Services
Interestingly, older workers tend to hold more designations than younger ones. About 75% of designation holders are aged 41 and older, while only 25% are 40 or younger.
Adam Carmichael, president of The Institutes Knowledge Group, emphasized the need for a skills-first approach to professional development. He noted that in today’s job market, opportunities for upskilling and clear paths to leadership are essential for attracting talent. The report aims to provide valuable resources for organizations in the risk management and insurance sectors, helping employees become more resilient and prepared for future challenges.