There’s no doubt that the re/insurance industry in Europe needs a steady influx of young talent to sustain it, but how best to attract and retain them? Intelligent Insurer investigates.
Much has been made of the looming recruitment crisis in the re/insurance industry: as baby boomers reach retirement age, there’s a growing need for new recruits. But re/insurance as an industry has arguably not always had the best image in the eye of the public, particularly for younger generations.
A report by The Griffith Insurance Education Foundation and The Institutes in the US found that fewer than one in 10 students said they were very interested in working in the insurance industry, including just 5 percent of students. The top reasons that people gave for not wanting to work in the insurance industry were that they did not want to sell insurance (52 percent) and that the insurance industry sounds boring (44 percent).
The report represented a stark wake-up call in terms of how far the industry has yet to go in order to change its image—but is the same true in Europe? Des Bishop, group head of people development for Hiscox, thinks it is an industry-wide issue.
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Insurance, Career, Intelligent Insurer, Barbican, Swiss Re, Aon Benfield, Hiscox