I'm a Retired Professional... - Insurance Thought Leadership

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February 6, 2017

I’m a Retired Professional…

Summary:

...Now what? According to a study at Harvard University, nearly 24% of those between ages 55 and 74 were working in the gig economy.

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The insurance industry is a massive market composed of many professionals with various backgrounds.

When consumers consider insurance professionals, they typically think about either the sales or claims end of the business, but there’s so much more.

Generally, national property and casualty insurance carriers are made up of many different departments that ultimately support the sales and service sides of the company. Although the sales side of the industry can have frequent turnover, those who find a home in the various support departments lead amazing careers.

But, as time moves on, and the Baby Boomers decide to start retiring, there is a growing army of retired insurance professionals.

What is one of the best jobs for retired insurance professionals? The gig economy!

Here’s why.

Retirement Flexibility

Gig platforms connect people to paying clients. It’s as simple as that. This includes freelancers, contingent workers, temp employees and the millions of digital nomads currently working from home on their own terms. The gig economy is the perfect retirement option for those wanting to remain social, earn supplemental income and maintain a flexible part-time job.

Why do we say this? Gig workers make their own hours, choose their own clients, meet new people and bring in some extra cash.

According to a study conducted in 2016 by Harvard University economics professor Lawrence Kats, nearly 24% of those between ages 55 and 74 were working in the gig economy in some capacity.

Further, according to a study by JP Morgan, 67% of pre-retirement workers said they planned to continue working in retirement. However, only 25% actually did.

Why not? Because most don’t even know where to start. That’s where we come in.

See also: The Stubborn Myths About Older Workers

The Best Retirement Gig: WeGoLook

We think the best job for retired insurance professionals is WeGoLook, a popular gig platform that specializes in asset verification tasks, something all insurance professionals are familiar with!

WeGoLook’s gig workers, whom we call “Lookers,” engage in a variety of tasks that any insurance professional will understand. These include:

  • Real estate verifications;
  • Auto verifications;
  • Heavy equipment verifications;
  • Various insurance solutions;
  • Courier services;
  • Document retrievals; and
  • Custom tasks and other field services.

Let’s break down a typical gig, or “Look,” for you:

A customer in Idaho buys a used car on eBay but wants to make sure that the seller in Oklahoma City is legitimate and that the car is “as described.” Mr. Idaho places a quick order through WeGoLook, which is integrated directly into the eBay Motors platform, pays a fee, and a “Looker” (the future you!) is dispatched to the physical location of the vehicle.

Acting as boots on the ground for the customer, a Looker will answer many questions about the item, snap some photos, check capability and then submit a secure report directly on the WeGoLook smartphone app for delivery to the client.

WeGoLook has more than 30,000 Lookers across North America taking on these type of side gigs on a daily basis.

You could, too!

The services WeGoLook provides for insurance clients — and others — are ones that companies realize they no longer need full-time staffing for.

Tasks such as property verifications, data collection, photographs and videos, asset condition verification, mobile notarizations, police and court report retrieval, etc., are easily contracted out to skilled on-demand gig workers.

Insurance Roles: Potential in Gig Economy

Although most insurers have departments that handle underwriting, actuarial, legal, licensing, marketing, claims and inspections matters, many contract with on-demand gig workers who are qualified to perform the service required.

That’s where WeGoLook comes in, connecting people to tasks. We are already operating in the insurance space. In fact, we were recently acquired by Crawford & Co.

See also: How Telemedicine, AI Are Transforming Care  

Final Thoughts

As years of working in the insurance industry go by, like most workers, insurance professionals look forward to a comfortable retirement.

But, like many other retired workers, insurance professionals want to supplement their retirement income by working part-time and remaining in the industry they know and love.

Fortunately, technology today allows a retired individual to use their skills on an on-demand basis so they can work when they want and where they want — in the industry of their choice.

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About the Author

Robin Roberson is the managing director of North America for Claim Central, a pioneer in claims fulfillment technology with an open two-sided ecosystem. As previous CEO and co-founder of WeGoLook, she grew the business to over 45,000 global independent contractors.

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