The Worshipful Company of Insurers (WCI) Future Insurer Scholarship guidance notes

Guidance Notes 2025/26

Before completing the application form please read these guidance notes. 

Applications close  9am 1st October 2025.

Scholarship information

The Worshipful Company of Insurers (WCI) Future Insurer Scholarship is a major award scheme for undergraduate students beginning selected degrees of relevance to the insurance industry in September 2025. The Scholarship offers financial support totalling £18,000 each over three years to three academically able students from sections of the community who are traditionally under-represented in HE and aim to enter the insurance industry after graduation.

Who can apply for this scheme?  

For this scheme you must meet the following basic criteria. You must:

• Have an offer to enrol for the first year of one of the following undergraduate degrees at the University of Nottingham (UK Campus) in Autumn 2025:-

              BSc (Hons) Finance, Accounting and Management;
              BSc (Hons) Industrial Economics with Insurance;
              BSc (Hons) Industrial Economics;
              BSc (Hons) Management*.

• Select all three of the modules below with the aim of entering the insurance industry after graduation:

              Risk, Information and Insurance;
              Risk Management Decisions;
              Risk Management Processes.

• Be studying for a first undergraduate degree

• Have Home funding status (see definition below)

• Have a 2025/26 Household Income of between £0-£42,875, as assessed by Student Finance (see definition below)
• Have a home address (postcode) from an area known to be among the most deprived in the country (determined via the Index of Multiple Deprivation, the UK’s official measure of relative deprivation.)

• Not be receiving external sponsorship for your course e.g. from industry/employers (University Core Bursaries and Government grants do not affect your eligibility)

The scholarship will not be paid during any pause in continuation of a student’s studies, such as resits or an industrial placement year. Payments will resume when the student continues to progress the core three-year academic programme and the total amount they receive will be unaffected.

* Applicants must study module Quantitative Methods 1b. If they do not possess the appropriate level of post-GCSE Maths qualifications, they would also be required to study Quantitative Methods 1a to allow them to study 1b. (QM1a and QM1b are not core aspects of BSc [Hons] Management, requiring these students to opt in to these modules to be eligible for the Scholarship.)

What is a ‘home-funded student’ (Question 7)? 

Your student finance company (i.e. Student Finance England, Wales, Northern Ireland or the Student Awards Agency for Scotland—SAAS) will decide your residency status. To be classed as a ‘Home-funded student’ you must have been ordinarily resident in the UK for the three-year period prior to the start of your course. Students granted refugee status and European migrant workers may also be eligible. If you are unsure of your status contact Student Finance for further information. 

What is ‘Household Income’ (Question 9)?

The Student Loans Company should automatically share your income information with the University, unless you chose to opt out. For more information about this, read the Privacy Notice in the accompanying notes to your Student Finance application. If you opt out of data sharing with Student Finance your financial information will not be shared with us and you will not be eligible for this fund.

As the deadline for this Scholarship is prior to the start of your course at Nottingham you will need to declare your household income for the period April 2023-March 2024. This figure will be checked against that supplied by Student Finance at the time of your registration at the University to ensure it is a similar figure to that you have declared and that it doesn't exceed the £42,875 eligibility threshold. Please note that if offered a Scholarship, this offer will be conditional on you meeting the income threshold criteria on entry to the course.

How will my application be assessed?

Applicants who meet the essential criteria for the fund will be assessed based on their supporting statement. We will also consider whether your home postcode is in an area of deprivation according to the Index of Multiple Deprivation.

How will any award be paid?

If successful your total award of £18,000 will be paid over the three-year duration of your undergraduate course, i.e. £6,000 per year. £2,000 of this annual sum will be committed towards reducing the tuition fee for which you are liable.

The remaining annual living costs award (£4,000) will be divided into three approximately equal instalments over the academic year made in October, January and May. If you wish we can arrange for payments to be made directly towards accommodation charges.

When is the closing date and when will I know if I’ve been made an award?

The closing date for submitting this form is 9am 1st October 2025. Applications will be considered once the closing date has passed and all applicants will be informed by email of the outcome of their application within four weeks of the closing date.

The University of Nottingham’s safeguarding responsibilities:

The University of Nottingham has a responsibility to comply with legislation regarding the safeguarding of children and vulnerable adults and will consult with local relevant bodies if it feels that the welfare of an individual is at risk. The information provided in this application will be treated confidentially, but in making an application you accept that you understand the University’s policy on safeguarding. Full information on the University’s Safeguarding and Child Protection Policy can be found at:

https://www.nottingham.ac.uk/governance/documents/uon-safeguarding-policy-june- 2022.pdf

How to appeal 

If you are unhappy with the outcome of your application, you should initially contact the Funding & Financial Support team to discuss your concerns (see contact details above). If after an explanation of the assessment you believe there has been an error or procedural inconsistency and you wish to appeal you should email the Funding Manager detailing the basis of your appeal. Please send your email to john.hudson@nottingham.ac.uk and copy in financialsupport@nottingham.ac.uk.

Appeals must be lodged within 2 weeks of the date of the email notifying you of the initial outcome. You will be contacted within 7 working days of receipt of the appeal with confirmation of the outcome of the appeal. Please note that the Funding & Financial Support Management’s decision on appeals is final. 

Details about the Funding & Financial Support appeal process can be requested from the team at any point and this does not affect your right to raise an official complaint. Further details can also be found at: 

https://www.nottingham.ac.uk/studentservices/support/financialsupport/Appeals.aspx 

Data Protection and EDI

Data protection and confidentiality

All information and supporting documentation supplied by you with this application will be used for the sole purpose of assessing your application. Your application and some related information, including the outcome of the application, will be held and maintained in accordance with the provisions of General Data Protection Regulation (GDPR). The data will not be passed to any other third party without your consent, except when the University is required to do so by law. For our full Data Protection and Confidentiality Statement, please see: https://www.nottingham.ac.uk/studentservices/support/financialsupport/data-protection.aspx

Equality, Diversity and Inclusion

The University of Nottingham is focused on embedding equality, diversity, and inclusion in all that we do. As part of this, we seek to reward and recognise our diverse staff and student population, and therefore encourage applications from all communities, particularly those with protected characteristics under the Equality Act 2010. For more information please see our Equality, Diversity and Inclusion web pages: https://www.nottingham.ac.uk/edi/equality-diversity-and-inclusion.aspx

If you have any questions about completing the application form or want more information about any area of student support funding then please contact us. We can provide information and advice on all aspects of student finance including Government and University student support funds.  

Funding and Financial Support team contact details:  

Student Enquiry Centre

Website: www.nottingham.ac.uk/financialsupport  

You can also find information on the comprehensive range of support services offered by the University of Nottingham at www.nottingham.ac.uk/studentservices  

Please submit your completed application by the closing date: 9am 1st October 2025 – late applications cannot be accepted.

We will acknowledge receipt of your application by email within 3 working days of receipt. If you do not receive an acknowledgement of receipt, please contact the Funding and Financial Support team prior to the application deadline. We cannot deal with queries relating to lost applications received after this deadline. Applications are assessed after the closing date and all applicants will be notified of the outcome by email within 4 weeks of the closing date. If you have not heard from us within 4 weeks of this date, please get in touch.