From: Captive International

The captive insurance industry is facing a unique set of recruitment challenges as it navigates a dynamic and competitive job market. Key industry figures such as Renea Louie, chief operations officer of Pro Group; Dan Towle, president of the Captive Insurance Companies Association (CICA); and Sandy Bigglestone, deputy commissioner of captive insurance for the Vermont Department of Financial Regulation, highlight several significant issues.

These range from heightened competition for top talent to the need for robust education and outreach programmes, all while adapting to a rapidly changing recruitment landscape.

Our challenge is to move students and young professionals from awareness of captive insurance to understanding the unique and challenging work involved.”

Dan Towle, CICA

One of the most pressing challenges for captive insurance recruitment teams is the fierce competition for qualified candidates. As Louie points out, the job market is brimming with opportunities across various sectors, making it harder to attract and retain skilled professionals within the captives sector.

“Our industry is not alone in facing several challenges in the current job market. With a growing number of job opportunities and a limited pool of qualified candidates, competition for top talent across all sectors creates large challenges,” she states. This competition necessitates a diligent and strategic approach to recruitment, where a positive candidate experience and a vibrant industry image are crucial.