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Analysis

Talent crisis will drive change in insurance

Key attractions for today's top insurance-job prospects include a startup culture and cool technology.

By John Rodgers and Brian Nordyke | August 20, 2021 at 08:00 AM
Insurance companies must reach out to a non-traditional pool of applicants in order to attain the diversified talent they need. (Shutterstock) Insurance companies must reach out to a non-traditional pool of applicants in order to attain the diversified talent they need. (Shutterstock)

According to the results of a self-assessment designed to evaluate companies’ digital maturity, the included 42 insurance companies (out of 700 cross-sector survey participants) lagged behind other industries on metrics related to culture, agility, testing and learning, collaboration and external orientation.

This surely doesn’t bode well for the insurance industry, with its reputation for the traditional and conventional. But some carriers are evolving to meet today’s myriad challenges with a workforce that’s shifted to online, a talent market that favors “cool” factors and startup culture, and new sources of competition.

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