Talent Gap

While the emphasis has been on how to replace hundreds of thousands of people retiring in the next few years, the issue may be less about finding new talent in the insurance industry and more about retaining it.

ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

Leaders need to come to grips with this generation. Already 22% of the workforce, they will represent one out of every three employees by 2030.

By automating routine tasks, AI can free adjusters to focus on the human aspects of their work that require empathy, nuanced judgment and creative problem-solving.

By fostering resilience, insurance companies build a workforce that is change-ready, emotionally agile and mentally strong.

Be clear what success for employees looks like, encourage them to raise the bar and consistently link effort, results and impact on the big picture.

Skills-based hiring and skills-based salary levels can mean better results and access to a wider pool of talent at a time when AI is increasing the pace of change.

Support programs demonstrate a commitment to employees' well-being, increase productivity, reduce absenteeism and enhance the employer brand.