Within property and casualty insurance, insurers have been discussing the talent gap for many years. Earlier this year, my colleague, Michael Costonis, wrote an article for PropertyCasualty360 highlighting five priorities for the claims workforce this year. I think it’s an apt refresher as we head into warmer weather and look to the rest of 2015.
Accenture recommends a comprehensive plan to address current and future gaps in the claims workforce, and also to fundamentally transform the way that claims professionals work. The article outlines five parts to the plan:
- Find the right people. We recommend that insurers identify the metrics and characteristics that they want in a successful claims worker, and allow those features to guide recruiting, hiring, orientation and training decisions. Alliances with colleges can also bolster recruitment efforts.
- Facilitate knowledge transfer. With many claims adjusters over the age of 45, it is essential for insurers to document and identify the implicit knowledge that existing employees have learned. Mentorship programs between junior and senior staff can also help ease the transition.
- Give the right claim to the right adjuster. Insurers already know that claims adjusters should not be mired with routine transactions that can be better handled by automated systems—it’s an issue of making it happen. The benefits of doing so: increased efficiency, and more engaged claims workers who feel valuable and that they are making a difference to the organization.
- Help claims workers be more efficient and effective. New technologies can enable new ways of working, from more efficient field investigations, to collaborations that foster knowledge transfer and improve morale. Doing so can result in greater productivity and better outcomes for claims investigations.
- Proper motivation and rewards. Accenture research found that if a claim is not handled to a customer’s satisfaction, they are almost certain to switch providers. Claims professionals, therefore, have a tremendous role to play in an insurer’s profitability and customer retention rates, and should be compensated and evaluated accordingly.
To learn more, read 5 priorities for the 2015 claims workforce on PropertyCasualty360.
For more information:
- Register to download The Digital Insurer: Accenture Claims Customer Survey—Why Claims Service Matters (PDF) and get access to our interactive data visualization tool.