From: Risk & Insurance

For the past few years, we’ve heard that insurance and risk management has been gaining momentum in terms of attracting young professionals. But is that still the case amid recent reorganizations and layoffs?

Despite the grim headlines of staff layoffs at both established (GEICO, Liberty Mutual) and startup (Hippo, Pie Insurance) P&C firms, students remain resolute in their pursuit of industry careers. In fact, traditional P&C roles such as actuary, underwriter and broker ranked as the top three industry job functions students are pursuing in the 2023 Recruiting Survey Report conducted by Gamma Iota Sigma (GIS).

What is changing, however, are the expectations students have for the insurers they choose. Today’s young professionals want to pursue versatile roles where they can apply diverse skill sets throughout their career, and they will gravitate toward insurers that offer them such opportunities.

Let’s look at the overall market trends and explore how insurers can shift their talent strategies to meet students’ desires.