The “Silver Tsunami” of Baby Boomer retirements will soon befelt in insurance IT operations, and is already upon many carriers,Novarica notes.

“For insurance CIOs who must concurrently manage legacy systemsenvironments, prepare for the continuing introduction of a widerange of new and potentially disruptive capabilities while planningfor ever faster refresh cycles in key system components, this maynot be a new issue, but it is now one that may require highpriority attention,” the firm says in a recent report, “Planningfor an Aging IT Workforce.”

Following are some tips from Novarica to prepare for loss oftalent and institutional knowledge as current IT professionalsretire and exit the workforce:

-Develop an inventory of key systems,underlying technologies and key skill sets to illuminatethe problem and underlying issues.

-Identify opportunity areas fordocumenting and preserving vital technical and operationalknowledge.

-Initiate a program for cross-generationalsharing of insights, perspective, experiences andknowledge.

-Create a better internalunderstanding of the issues and concerns being articulatedby associate.

-Identify approaches that can create moreflexible work arrangements and initiate pilot programs tosee what works, and what doesn't.

-Consider the value of transitionalprograms that can retain historically valuable knowledgeand experience while also building new organizationalmuscle.

-Implement programs to provide workers who arechanging careers with opportunities to acquire newskills.

-Work with strategic partners to builda new level of competence for supporting mature butfunctional environments.

-Review the system portfolio to seewhen and how outsourcing options can produce value addedresults.

-Evaluate the working environment to assess itsimpact on a multi-generational workforce.