Other parts of this series:
- A claims perspective: Accenture Technology Vision for Insurance 2017
- Improving claims outcomes with artificial intelligence (AI)
- Power plays, ecosystems and platforms: What claims leaders need to know
- Reimagining the claims workforce
- Claims, technology and designing for humans
- Uncharted territory for the claims function
New labor platforms and collaboration tools provide claims leaders with new ways of bringing creative talent into their organization—in turn, that can help them create a competitive advantage.
For many years, Accenture has been talking about the talent shortage in claims. For example, in 2013, my colleague Michael Costonis discussed the shortfall of talented workers in claims. And, according to the Insurance Information Institute, a US-based industry association, about half the country’s insurance workers are 45 or older—and a quarter of them are expected to retire by 2018.
At the same time, the nature of work has changed significantly in the past few years. The rise of freelancers, contractors and the gig economy means that organizations have more options for hiring than a traditional full-time employee. That, plus the rise of artificial intelligence—as I wrote about previously —means that claims work can look very different from how it has in the past.
By 2018, one quarter of US insurance workers aged 45 or older are expected to retire.
New labor platforms and collaboration tools offer insurers the opportunity to be more adaptable and responsive to market changes—and lowers the friction involved in bringing creative, innovative new talent into their organizations.
Consider WeGoLook, a platform that offers remote, gig-economy inspectors. It could transform the claims function to streamline the inspection process. In tandem, other technologies such as wearables or machine learning could enable other opportunities like on-demand training and knowledge transfer. Being open to more flexible, less traditional workforce arrangements can also help insurers position themselves to capitalize on opportunities in a global marketplace, and facilitate innovation within the workforce.
62% of insurance executives say they plan to increase their organization’s use of independent freelance workers over the next year.
Workforce marketplace: Action items
Claims leaders must recognize the looming challenges and opportunities in the workforce marketplace. Above all, they must reimagine their workforce practices for a generation of new workers that expect pervasive technology, collaboration and flexible work arrangements. The good news? New labor platforms and collaboration tools offer insurers the means to achieve these goals.
To learn more about Accenture Technology Vision for Insurance 2017 and the era of the intelligent insurer and our 100- and 365-day plans to help insurers reimagine their workforce. If you’d like to discuss how Accenture can help claims leaders take advantage of the workforce marketplace, please email me.