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

Start Date:
2014
Location:
London
Programme Type:
Apprenticeship - Advanced Level (Level 3)
Salary:
£16,750 annually
Review Date:
13th 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.

9a. 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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