For two decades, the insurance industry has
Digital Insurance reached out to the following carriers to learn more about how insurance organizations are attracting and retaining new talent.
How are insurers attracting talent?
April 28, 2024 5:00 PM
State Farm
Rich Ortiz, State Farm talent management manager said, "As technology continues to play a larger role in attraction efforts and streamlining the hiring process, prioritizing the candidate experience becomes imperative. By ensuring that a candidate feels valued throughout the selection process, we not only enhance the ability to attract top-tier talent but also set the stage for a culture where every individual feels truly appreciated within our organization."
Liberty Mutual
Jen Ughetta, chief people officer at Liberty Mutual Insurance, said, "Employees and prospective talent desire career opportunities that align with their values, workplaces that provide support and growth, and companies that are committed to creating a positive impact in the world. They're eager for career mobility, benefits that support them at different stages of life, flexibility to balance work and life and ways to contribute to their local communities. At Liberty Mutual, our goal is to support the whole person through a wide range of mental, physical, and financial well-being benefits, growth and development opportunities for employees to learn the skills they need to advance their careers and offer a number of ways for employees to support causes in our local communities that are most important to them."
American Modern
Andreas Kleiner, president and CEO of American Modern, A Munich Re Company, said, "For me, it is all about 'three Cs' -- culture, coursework and communication. Let me elaborate.
A company must have a robust culture that empowers employees to do their very best work, encourages diversity of thought, recognizes and rewards achievements…the list can go on and on. In short, the culture needs to be one where employees enjoy their time at work – and where they can also enjoy work-life balance. The tone of the culture also must start at the top with executive management.
Now what exactly do I mean by coursework? You must offer continuous learning and development opportunities for staff that align with their interests and aptitudes as well as the priorities of the business. At American Modern, we have what we call American Modern University, which has several colleges within it based on our organizational structure. The dean of the university partners with departments and teams to create appropriate coursework that serves to educate and upskill our workforce. In fact, last year we won an external award for our learning and development curriculum.
Now for communication – when employees feel they know what is going on, where the company is headed, and their part within it, they tend to be more engaged and committed. At American Modern, we hold quarterly all-hands meetings for all staff, and I personally send an email newsletter to all employees every month. Top managers are also kept informed on strategic topics and are encouraged to cascade and share these updates as appropriate with their own departments."
A company must have a robust culture that empowers employees to do their very best work, encourages diversity of thought, recognizes and rewards achievements…the list can go on and on. In short, the culture needs to be one where employees enjoy their time at work – and where they can also enjoy work-life balance. The tone of the culture also must start at the top with executive management.
Now what exactly do I mean by coursework? You must offer continuous learning and development opportunities for staff that align with their interests and aptitudes as well as the priorities of the business. At American Modern, we have what we call American Modern University, which has several colleges within it based on our organizational structure. The dean of the university partners with departments and teams to create appropriate coursework that serves to educate and upskill our workforce. In fact, last year we won an external award for our learning and development curriculum.
Now for communication – when employees feel they know what is going on, where the company is headed, and their part within it, they tend to be more engaged and committed. At American Modern, we hold quarterly all-hands meetings for all staff, and I personally send an email newsletter to all employees every month. Top managers are also kept informed on strategic topics and are encouraged to cascade and share these updates as appropriate with their own departments."
Vertafore
Jace Hopper, VP of product management said, "Set the foundation by implementing or staying current with the technology that runs your business. Intuitive and easy to use technology platforms will help attract and retain talent. Staff will feel empowered in their daily tasks from an easy login process, utilizing open APIs to quickly connect multiple solutions, or streamlining workflows to increase productivity and boost sales."
Vertafore also shared statements from the keynote panel of theirannual user conference, Accelerate , powered by NetVU.
"We must do a better job at selling people on our industry. It's not a sexy business, but what a great place to have a career… we've got to go out and convince people of that by bringing in interns…and by doing a better job of explaining and presenting opportunities to young people. We must do a better job of selling it, and if we do, it will sell itself." said Bobby Reagan, Reagan Consulting's executive chairman, at Vertafore's annual event.
"I fundamentally believe there's a big misunderstanding about how far reaching our industry is. There are legal teams, there's claims teams, there's marketing teams. There's a whole host of what goes into this industry, especially with technology, including CIO roles, innovation, and data and analytics teams. We must do a better job explaining what a career in insurance really is, and we must use more contemporary ways to get that message out," said Stephanie Bush, former Chair of the Board of Directors of the National Council on Compensation Insurance, during the panel.
Vertafore also shared statements from the keynote panel of their
"We must do a better job at selling people on our industry. It's not a sexy business, but what a great place to have a career… we've got to go out and convince people of that by bringing in interns…and by doing a better job of explaining and presenting opportunities to young people. We must do a better job of selling it, and if we do, it will sell itself." said Bobby Reagan, Reagan Consulting's executive chairman, at Vertafore's annual event.
"I fundamentally believe there's a big misunderstanding about how far reaching our industry is. There are legal teams, there's claims teams, there's marketing teams. There's a whole host of what goes into this industry, especially with technology, including CIO roles, innovation, and data and analytics teams. We must do a better job explaining what a career in insurance really is, and we must use more contemporary ways to get that message out," said Stephanie Bush, former Chair of the Board of Directors of the National Council on Compensation Insurance, during the panel.
CNA
Heather Giordano, senior vice president of Human Resources, said, "One of the biggest advantages our industry offers is a myriad of different career opportunities, offering a space for people with a wide variety of knowledge, skills and experiences to thrive. And it's when we are attracting, developing, and retaining talent that this advantage really shines. In addition, there's a clear industry-wide commitment to Diversity, Equity and Inclusion (DEI); to the innovation it sparks and to the everyday experiences, connections and possibilities it creates for all of us."