Knowledge at Risk Survey Findings
A survey of 204 insurance professionals by the Chartered Insurance Institute New Generation Programme Broking Group found that 84% expect senior retirements to negatively impact technical and client-facing capability. However, only 11% reported that their organisation has a formal knowledge-transfer programme in place. The hardest knowledge to capture includes technical judgement, client relationships and institutional memory.
Proposed Framework
To address these gaps, the group proposes an Industry Legacy Framework involving government, regulators and employers. The framework recommends structured succession planning standards, phased retirement norms, a Knowledge Capture Toolkit, and reformed continuous professional development frameworks that credit shadowing and knowledge-transfer activities.