Most life insurers have their sights set on becoming digital insurers. It’s a smart and necessary aim. Yet, fully capturing the premium growth and other advantages they seek from their digital investments requires carriers to create workforces that are lean, agile and willing to adapt.
As my colleague, Ravi Malholtra, discusses in a new insurance workforce report, the digital reality demands a host of insurance talent changes: enhanced skills (such as analytics-capable underwriters who draw more insights from broader sets of data), new roles (such as innovation advocates and ecosystem architects) and younger, more tech-savvy talent.
Insurers can take several actions to attract and reskill the workforce for the digital future:
- Draw on workers’ enthusiasm and desire to learn (64 percent are already seeking out learning opportunities) to identify required skills—and determine whether they can be developed in-house or need to be acquired.
- Develop the right support environment.
- Make jobs more meaningful, interesting and challenging.
- Reposition and rebrand as a provider of dynamic and innovative solutions.
- Create, offer and tout a unique employee experience that is outcome-oriented, flexible and innovative.
Read the full report, The Insurance Workforce of the Future: Why Will So Many
My next blog in this series will discuss how life insurers can gain an edge in the war for talent.