The Accenture Analytics in Action study found that insurers see the value in analytics, but many lag behind other industries in analytics ambition and capabilities. What’s holding them back? Accenture believes there are three barriers: resources, culture and talent. In this Insurance Chart of the Week, I’ll focus on analytics talent—or the lack thereof.
The analytics talent gap
There’s a critical mismatch between supply and demand for analytics talent. In the developed world, the insurance workforce is aging, and Accenture research has found that only 1 percent of university students are interested in insurance careers.
In the United States alone, there’s a deficit of more than 250,000 analytics resources. However, China and India have a surplus of analytics talent. One way for insurers to address the talent tap is to consider a global approach to sourcing analytics resources.
- See Part 1 of Insurance Chart of the Week: Achieving Payback in Insurance Analytics.
- See Part 2 of Insurance Chart of the Week: Achieving Payback in Insurance Analytics.
- See Part 3 of Insurance Chart of the Week: Achieving Payback in Insurance Analytics.
- View other Insurance Chart of the Week videos.
- Find out more about The Digital Insurer: Achieving Payback in Insurance Analytics (pdf).
How is your organization addressing the analytics talent gap? Send me an email and let’s discuss your people strategy.