There are significant trends that are putting pressure on insurers to undertake major transformation programs. For starters, consumers are more informed than ever. Their buying and service savvy is creating the necessity for insurers to shift from being product-focused to being customer-centric. There is also a growing demand for insurance products and services in emerging countries, and insurers are capitalizing on that demand and competition is now on a global scale. When you add in the need for technology solutions to meet enterprise needs, the result is a high demand for good people.
Because everyone needs talented people with technology, insurance and service expertise, HR departments in insurance companies are fighting a new war for talent. They are seeking leaders, managers and employees who can develop and execute transformation programs, who can assist in creating a customer-focused company culture, who can compete in emerging countries, and who have experience in data and quantitative analysis. On top of all of these talents, they must come with or be trained to possess insurance business expertise.
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