Addressing the Insurance Industry's Talent Crisis with 3 Vital Strategies

By Insurance CIO Outlook | Friday, October 09, 2020

Insurance IndustrysInnovative strategies that meet the demands of modern-day talent will address the shortage of skills in the insurance industry.

FREMONT, CA: Insurance executives frequently cite a shortage of fresh talent and an aging workforce as a priority concern for the industry. To resolve this, the executives must join hands together and re-brand the sector of choice for young professionals. To attract and engage young talent the industry must

• Revamping Internship Program

The internship program is a method which helps organizations to find potential skills who can help grow the business. Also, internship programs are an extraordinary way to introduce young professionals to the insurance industry. A quality internship program will enable the organization to attract bright and ambitious young talents.

• Utilizing technology

Organizations can appeal to young professionals with the technology they use in everyday lives. Launching a video challenge can encourage employees to create videos describing why the insurance industry is excellent. Posting such videos on social media sites can attract viewers then turning to customer. Getting employees together and hosting competitions with the aid of technology can encourage them to come up with solutions to fill the talent gap. Holding virtual meet and greet is a great thing to do by utilizing virtual technology.

• Auditing Communication Channels

Before targeting young professionals, firms should make sure their marketing materials will make an impression and update social media strategy. When creating marketing materials, think of what would appeal to the target audience. Make sure the images used are diverse and depict other young professionals. Keeping up with the trends is a mandate, and it is vital to monitor the latest social media outlets. Subscribing to publications and blogs can help firms stay informed. Also, millennials can be a great resource and can point the organization in the right direction.

Insurers who proactively reform themselves to have better and fresh talents and deploy technology effectively are to become more customer-centric and win in the competitive marketplace.

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