When I came back to Bermuda in 1988, anyone who was anyone in the insurance industry attended the functions held at the Bermuda Insurance Institute (the BII). The BII was the place to be seen in the insurance industry. However, over the years, the popularity of the BII has waned as the hub of insurance social events.

Noticing that the BII was hosting its Annual Dinner Dance, I contacted Pete Doyles, director of education and training at the BII to find out what is happening there. After speaking to Mr. Doyles, I was glad to have made the contact with the BII because I realised that the BII is not dead but rather has evolved into exactly the institution it was created to be for the community.

Like the rest of the Bermuda insurance industry, the BII has had to evolve from being all things to all people to serving a vital role in its own niche as the education facilitator to the insurance industry. Although it is true that the BII is no longer the social hub of the insurance industry, a role it was never created to serve, it has become the hub of education for those with an interest in the industry. Mr. Doyles said the BII has changed greatly because of the diversity of insurance companies, brokers, and service providers on the island who have in their own right helped to create a market much more sophisticated than the one the BII was originally created to cater for in 1970.

The BII started out very informally as the Bermuda Insurance Diploma Association. It was actually the brainchild of two English accountants who were here and noticed the lack of educational and training facilities available for locals. Therefore, they sought a means to provide a facility to fill this void and in doing so created the Bermuda Insurance Diploma, which later evolved into the BII. The BII was purely created to provide a place for Bermudians and those with an interest in learning about insurance to study. Prior to 1970, there was no formal training program on the island nor was there a place where Bermudians or those on the island could get a professional designation.

It was from those humble beginnings that the BII began and grew into much more when the industry desperately sought an independent body to host insurance events to allow all in the industry to congregate. However, once the market became more and more sophisticated it began to rely less and less upon the BII as its hub for social activity. Nevertheless, it does still provide an invaluable service to the Bermuda insurance industry providing education to those seeking to enter the industry and to those already in the industry who wish to further their careers by broadening their theoretical knowledge.

The BII is controlled by a Governing Council whose members are made up of senior members of the industry. The Governing Council appoints various subcommittees to ensure the organisation's objectives are achieved in the most effective and efficient manner. It has four full time staff members including Pete Doyles as the Director of Education & Training, David Fox, Director of Information, Delma Parfitt - Office Administrator, and Carol Pitt, Assistant Administrator. Pete says he is responsible for the day to day running of the BII while the Council is responsible for making sure the following objectives of the BII are fulfilled:

To encourage and assist the study of any subjects bearing upon any branch of insurance;

To provide and maintain a central organisation for persons engaged or employed in insurance;

To hold meetings for discussions of insurance matters and subjects akin thereto; and

To promote social interaction amongst members

The purpose of the BII has shifted in the last few years to primarily educate people for entry into the industry and to prepare those already in the industry for upward mobility by improving their qualifications. Secondly, it does act as a place to promote social integration amongst its members because it has the duty to enlighten the public about the insurance industry and the opportunities that exist in the market.

Mr. Doyles feels this is where the Young Members of the BII play a major role because of the much needed career guidance they provide to the next generation of local insurance professionals. The Young Members, all volunteers from the insurance industry go to schools to give talks about the industry. They also attend all business and career fairs, where they tend to work with the Bermuda Foundation for Insurance Studies (BFIS).

BFIS and the BII do not serve the same role in the community. Whereas the BII is the education facilitator on the island, BFIS is a private sector, non-profit organisation formed and supported by the insurance industry. Its aim is to provide opportunities for Bermudian students interested in developing a career in insurance. While the two organisations provide different functions in the industry, together they bring a wealth of benefits to the local insurance community.

Lately the Young Members have developed a series of professional development seminars for people who are interested in entering the industry focussing on such topics as resume writing, how to dress for interviews and the proper protocols and etiquette necessary for making it in the industry. Pete feels that Young Members are the most effective at giving these seminars because students can easily relate to them.

Next week I will review the courses, seminars and other services the BII offers to the community.

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Cathy Duffy is a Chartered Property Casualty Underwriter (CPCU) and is now a freelance writer. She is a former executive of Zurich Global Energy and has 15 years experience in the insurance industry. She writes on insurance issues in The Royal Gazette every Monday. Feedback crduffycwbda.bm