Insurers struggle 'with lack of talent' and preparation for future digital workplace: Aon

Insurers are struggling to find the right talent to fill key technology roles, and need to involve the wider workforce in developing their IT strategy.

These are two of the key points from the latest in Aon’s 2019 Global Insurance Market Opportunities (GIMO) series, entitled 'Bridging the Insurer Talent Gap'.

The report’s author, Dan Weber, director, market trends and busienss development at Radford, part of Aon, said: “Insurers need to consider what technology positions and skills are truly critical to their business to “keep the lights on” while adopting critical technology to drive the organization forward.”

He said the first step for insurers is to recognise technology’s place within the business operation. High-tech companies like Google, Facebook and Amazon create amazing employment experiences – both in terms of rewards and opportunities – for their tech-savvy talent, both inside and outside their technology groups. Weber said this was because technology and the creation and selling of technology products are both central to who they are and how they generate revenue.

He added: “This contrasts with insurance companies which are enabled by technology in how they generate revenue through premiums and investment.”

Insurers should obviously not see themselves as tech companies, but should seek to understand how and why tech company programs are structured the way that they are, said Weber. “This insight can then be applied to the design of insurers’ own talent and rewards programs to ensure that they are aligned with the market for tech-savvy talent, but in a way that supports and drives their business objectives.”

He said it was also important to think beyond just the technology talent to how technology can expand and accelerate the capabilities of the entire workforce. “The key is in framing the question as a business problem – for example, wanting to increase the quality of your customer service department – and then developing a solution that looks for technology, rather than a technology solution that looks for an answer.”

He said this requires raising the awareness of both sides – the technologists and the business roles – as to how the other operates and thinks.

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