The issue of the aging workforce had a simple solution back in 2008. Everyone’s 401(k) went into the tank and any talk of retirement was delayed. That may have given some IT departments a false sense of hope, but as the stock market has gradually rebounded, people of a certain age are once again contemplating the next step in their lives.

The delay helped in another regard as well. It also allowed insurance carriers to get another two or three years closer to replacing some of their legacy systems. No one likes to lose institutional intelligence, but as long as it doesn’t involve aging solutions carriers will somehow manage to get by.

There are problems on the opposite end of the spectrum as well. If companies are looking to add fresh talent to their IT department they better have some interesting systems that will challenge today’s programmers and developers.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.