The scheme which was first launched in 2008 was one of the first apprenticeship schemes in the financial services sector.
LV= currently has over 150 staff taking part in its apprenticeship scheme and is planning to continue to take on further staff over the next 12 months. Over 50 members of staff have already graduated.
The apprenticeship scheme takes 12 months to complete and successful participants are awarded an NVQ level two and a Chartered Institute of Insurance (CII) foundation qualification. The course is equivalent to five good GCSE passes.
LV= also runs the advanced apprenticeship scheme, and currently has over 70 members of staff taking part. This course also takes 12 months and staff who pass are awarded an further NVQ and higher CII qualification. This scheme is equivalent to two A-level passes.
Taking part in the apprenticeship requires no financial investment from the individuals as it is funded sponsored by LV= and the Government. However, the course requires a high level of time commitment from individuals with over 50 hours of self study and project work per month plus a monthly coaching session with an assessor.
Participation in the scheme is available in six of LV='s offices including Bournemouth, Croydon, Bristol, Exeter, Ipswich and Hitchin. The apprentices can work in two different business areas and modules include customer service, insurance and leadership.
LV= is currently recruiting for over 200 staff and within six months of joining the company, staff can apply to join the apprenticeship scheme.
David Smith, LV= HR director, said: "LV= is proud to be able to offer apprenticeships. We pride ourselves on recruiting the best people in the industry and by providing an apprenticeship scheme we can ensure those staff stay with us and we develop their talent.
“The members of staff who have already graduated have been very impressed with the scheme with many of them signing up to do the next level of the course.
“One of the key factors is that by completing the course each participant gains a formal qualification, which is accredited by both the City and Guilds NVQ scheme and the Chartered Insurance Institute."
