Much has been written in recent months and years about carriers coping with an older workforce retiring. Insurers must devise a plan to both market to and attract this latest generation of workers, all while devising a strategy to retain the knowledge and experience of its exiting employees.
In an effort to gauge how insurers are dealing with the growing shortage of qualified, experienced underwriters, FirstBest Systems Inc., a provider of insurance software solutions to the P&C industry, conducted a survey about training and knowledge sharing during last month’s 2010 NAMIC Commercial Lines Underwriting Seminar, and the results were not encouraging. FirstBest laments the results indicate that few insurers have leveraged technologies that appeal to Generation Y workers, facilitate real-time training and collaboration for new hires and teams and capture underwriting expertise for knowledge-sharing purposes.
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