From: Insurance Nerds
The insurance sector, often misperceived as an antiquated industry, has grappled with serious recruitment challenges in recent years. As a critical backbone of the global financial system, it’s surprising to many that insurance companies face difficulties in drawing fresh talent into their ranks. One can’t help but notice the dual challenge: an aging workforce on the brink of retirement, and a younger generation that sometimes overlooks the vast opportunities within this sector.
While competitive compensation and benefits packages remain fundamental, to truly solve the talent and recruiting challenge, companies must think outside the box. Identifying how to step outside the box isn’t as easy as it sounds though, and the more I thought about the recruiting challenges in insurance, I began to reflect on my own introduction to it.
This is the first post in a three part series examining how the insurance sector can level up it’s recruiting to truly win the talent war and set up the future of the industry for success. Let’s dive in and discuss how brokers, carriers, insurtechs, and more can recruit and retain young talent.
Finding Excitement in Risk
Like many others working in the insurance ecosystem, I really didn’t plan on it. Prior to finding myself in the insurance ecosystem, most of my work was on projects that were fun to tell my friends about. For this reason I had some reservations about joining Highwing, at the time a division of IMA Financial Group, when I was approached by the team. I knew absolutely nothing about commercial insurance, and compared to the other work I was doing, it seemed confusing and dull.
Fast forward a few years and I continue to be absolutely captivated by insurance. What happened?