The Chartered Insurance Institute (CII) has launched a consultation on its corporate chartered designation.
The criteria were last revised in 2014 but the CII has decided to review them again so they continue to be a "badge of trust" for consumers and the public.
Corporate chartered status was launched 11 years ago and includes three titles - chartered insurers, chartered insurance brokers and chartered financial planners - which are held by more than 900 firms.
The consultation will review the eligibility criteria for corporate chartered status, the process for applying for and renewing this status, and how the status is monitored.
Sian Fisher, chief executive of the CII, said: "These are crucial times for the insurance and personal finance profession, with our recent work on the Public Trust Index highlighting clear areas to address.
"The CII constantly strives to maintain the standards of professionalism and we’re conscious of the need to always be evolving this support for our membership and the wider sector.
"This consultation on our corporate chartered proposition, is essential to guide and focus our direction of travel."
There are currently 23,137 individuals holding one of the CII's chartered titles, which dropped for the first time in a decade from 23,266.
The consultation was opened yesterday (15 August) and will run until Monday 24 September.
Its key findings will be published in early 2019 or sooner if concluded.