Friday, 21 April 2023
A new scholarship for students with aspirations to work in the insurance industry is now available to those applying to study at the University of Nottingham.
The university has worked with the Education and Training Trust charity (EATT) of the Chartered Insurance Institute (CII) to create the scholarship programme to support students from sections of the community which are currently underrepresented in the industry, such as from low-income households.
The CII’s Education and Training Trust Scholarship for Future Insurers will provide financial support totalling £16,500 to each of the students. Successful applicants will be awarded £2,000 per year towards their tuition fee, as well as £3,500 per year for living costs. There are four scholarship places available to those starting degrees in September 2023 and four in September 2024.
Applicants will need to enrol on one of the following three-year courses offered by Nottingham University Business School, which are accredited by the Chartered Institute of Insurance (CII):
• BSc (Hons) Finance, Accounting and Management
• BSc (Hons) Industrial Economics with Insurance
• BSc (Hons) Industrial Economics
• BSc (Hons) Management
These undergraduate programmes each offer three Risk and Insurance modules forming a key part of students’ training in the field: Risk, Information and Insurance; Risk Management Decisions; and Risk Management Processes. To be eligible for the scholarship, students would be required to select all three modules with the clear aim of entering the insurance industry after graduation.
One of the university’s guiding principles is to expand opportunity. We are determined to ensure that an enriching learning experience should be available to all and not limited by financial constraints or other personal obstacles.
Professor Landman continued: “Establishing this insurance education undergraduate scholarship programme here at Nottingham will have a significant effect on our ability to recruit and retain those potential future leaders who may be dissuaded from entering Higher Education and joining the insurance industry because of the challenges they face in realising their potential.
“Recruiting the very best and diverse talent is crucial to the future of the insurance industry. This partnership will make a significant impact on the lives and careers of our students and also foster the next generation of leading talent for the insurance industry.”
Simon White, independent chair of the EATT, said: “We want to help nurture the next cohort of leaders in the insurance profession, right from their first steps. These scholarships will provide the successful students with significant financial support over their entire undergraduate degree studies, allowing them to focus on developing their skills, knowledge and understanding ahead of commencing a career in insurance.”
Successful applicants will need to meet the following selection criteria:
- Be eligible for UK tuition fees
- Have a household income not exceeding £35,000
Russell Higginbotham, President of the CII, said: “The CII Group is investing significant energy and resource into bringing fresh talent into the insurance and financial service professions through initiatives such as our New Generation Programme and Apprenticeship Awards. I am delighted that our Education and Training Trust has chosen to complement these other endeavours with these new scholarships. In combination, they will deliver a pipeline of highly-skilled and knowledgeable individuals focused on preserving and enhancing public trust in the insurance and financial planning professions.”
For more information and the application form, applicants should visit: The Chartered Insurance Institute (CII) Future Insurer Scholarship webpage.
Story credits
More information is available from Janet Wallace in the Nottingham University Business School at the University of Nottingham at Janet.Wallace@nottingham.ac.uk
Notes to editors:
About the University of Nottingham
Ranked 32 in Europe and 16th in the UK by the QS World University Rankings: Europe 2024, the University of Nottingham is a founding member of the Russell Group of research-intensive universities. Studying at the University of Nottingham is a life-changing experience, and we pride ourselves on unlocking the potential of our students. We have a pioneering spirit, expressed in the vision of our founder Sir Jesse Boot, which has seen us lead the way in establishing campuses in China and Malaysia - part of a globally connected network of education, research and industrial engagement.
Nottingham was crowned Sports University of the Year by The Times and Sunday Times Good University Guide 2024 – the third time it has been given the honour since 2018 – and by the Daily Mail University Guide 2024.
The university is among the best universities in the UK for the strength of our research, positioned seventh for research power in the UK according to REF 2021. The birthplace of discoveries such as MRI and ibuprofen, our innovations transform lives and tackle global problems such as sustainable food supplies, ending modern slavery, developing greener transport, and reducing reliance on fossil fuels.
The university is a major employer and industry partner - locally and globally - and our graduates are the second most targeted by the UK's top employers, according to The Graduate Market in 2022 report by High Fliers Research.
We lead the Universities for Nottingham initiative, in partnership with Nottingham Trent University, a pioneering collaboration between the city’s two world-class institutions to improve levels of prosperity, opportunity, sustainability, health and wellbeing for residents in the city and region we are proud to call home.
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