It's no secret that the insurance market isn't at the forefront of change, transformation, technology and working processes. Coupled with this, historically there has been a reluctance to hire from outside the sector, which if continued will prevent the industry from taking advantage of the transformational initiatives and technological advances that give organisations competitive advantage. With a quarter of the existing workforce expected to retire in the next five years and with the industry Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content. To access these options, along with all other subscription benefits, please contact [email protected]. You are currently unable to print this content. Please contact [email protected] to find out more. You are currently unable to copy this content. Please contact [email protected] to find out more.
A continued reluctance to hire from outside the insurance industry could prevent the sector from capitalising on technological advances. A quarter of the industry's current workforce is due to retire in the next five years. Therefore, recruiting from other markets is essential to addressing the need for strategic change. The financial services industry and commercial sectors could provide talent with experience of challenging and high-profile project environments, thereby enhancing the existing skills and knowledge of a team. The insurance industry is innovating quickly and could provide an attractive career path for qualified candidates.