Lloyd's of London Apprentice at Lloyd's of London

Start Date:
2014
Location:
Central London & City
Programme Type:
Apprenticeship - Advanced Level (Level 3)
Salary:
£16,750 annually
Review Date:
May 2015

Connect with Lloyd's of London

Review Score

7.7 /10

1. Please give an overview of your role and what this involves on a day-to-day basis:

8/10

The first month of the apprenticeship was spent in Lloyd's itself, learning about the insurance market, as well as developing soft skills such as teamwork, communication and presentation skills. I then spent sixth months at JLT, a broker, where I moved departments: Casualty, Cargo, Property and Energy. This movement had upsides and downsides; whilst I got to experience a lot of insurace divisions and meet a lot of people, I was also sometimes left with no work to do, which became tedious. In April I moved to an eleven month Catastrophe modelling and analysis placement at Barbican Insurance Underwriters. Here I have a proper role and specific workflow, so I am never without work. My day to day role involves helping underwrites assess the degree of risk on the contracts they are writing. I do this by modelling location details and then analysing the results - trying to assess the likelihood of an earthquake, storm or other peril causing the company a loss.

2. Have you learnt any new skills or developed existing skills?

7/10

I have learnt and developed a lot of new skills, especially excel and data processing. But I also feel a lot more confident in giving presentations and interacting with others, particularly those more senior than myself.

3. To what extent do you enjoy your programme?

8/10

Although I currently work in an office and don't often get to go into Lloyd's, I still love working in the City, and spending time with the other apprentices and employees.

4. How valued do you feel by Lloyd's of London?

8/10

Naturally I felt more valued at the start of the programme, when we were in Lloyd's all the time, but because there are so few apprentices I still feel valued now. I think I feel more valued than I would have at university.

5. How well organised/structured is your programme?

7/10

Quite well organised; I enjoyed the month induction, but think the fact that the apprenticeship is being shortened to a year is beneficial.

6a. How much support do you receive from your training provider?

9/10

Lots of support - I can text or email her at any time and meet up once a month.

6b. How much support do you receive from your employer?

7/10

A satisfactory amount.

7. How well does your salary/package meet your costs?

7/10

If I were still living at home the salary would be fine, however I had to move to London by myself, as my family live in Middlesbrough. Renting and commuting in London on the Lloyd's Apprentice salary is very difficult, however I do think it is a good starting salary.

8. Are there many opportunities outside of work?

8/10

The insurance market is very sociable and there are a lot of events outside of work.

9. Would you recommend Lloyd's of London to a friend?

Yes

9b. Why?

It is a very exciting place to work. I love actually being inside the LLoyd's community and inside the square mile. I think Lloyd's can give you a diverse and interesting career.

10. What tips or advice would you give to others applying to Lloyd's of London?

Research the insurance market and make sure you can justify why you want a career in it; the Lloyd's insurance market is far more exciting and complex than what I initially assumed was involved with insurance, an area I previously thought was rather dull.

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