By Maria Sassian, Triple-I Consultant If you didn’t quit your job this year, chances are you’re thinking about it: 41 percent of the global workforce is considering leaving their employer this year according to a Microsoft study. U.S. workers are quitting in record numbers: 4.3 million resigned in August, nearly 3 percent of the U.S. … Continue reading How Insurers Can Manage the “Great Resignation”
By Max Dorfman, Research Writer The coronavirus pandemic and the financial challenges it presents have fueled growth in captive insurance – a form of self-insurance in which one or more entities establish their own insurance company. They also may insure the risks of organizations other than their major owners. “Wholly owned” captives are set up … Continue reading Pandemic Fuels Growth in Captive Insurance
Triple-I and HBCU IMPACT have joined forces in a career-building campaign aimed at recruiting students at historically black colleges and universities (HBCUs) to the insurance industry. The acronym, IMPACT, stands for “Insurance Mentoring Program Advance Career Track”. The organization’s co-founders say they are aggressively sharing the “good news” of insurance career opportunities with students from … Continue reading Triple-I, HBCU IMPACT Partner to Recruit African-American Talent
A recent survey of insurance underwriters found that 40 percent of their time is spent on “tasks that are not core” to underwriting. The top three reasons they cited are: Redundant inputs/manual processes; Outdated/inflexible systems; and Lack of information/analytics at the point of need. The survey – conducted by The Institutes and Accenture – also … Continue reading Invest in Technology — But Don’t Forgetto Invest in People
By Tasha Williams, Senior Research Writer At Triple-I’s 2021 Joint Industry Forum (JIF) on Thursday, December 2, CEO Sean Kevelighan challenged attendees to ponder a question: “What do we know about the new normal?” In his opening presentation and a sit-down with NBC correspondent Contessa Brewer, Kevelighan shared insights on how the emerging post-pandemic reality … Continue reading Insurance & “The New Normal”
Retaining and recruiting talent has been a priority for years, but the pandemic changed how insurers approach these needs, a panel of experts concluded at Triple-I’s Joint Industry Forum (JIF) last week. The panel examined whether insurers’ growing comfort with remote work will lead to a more diverse workforce and if technological advances would give insurance industry … Continue reading Insurers Focusingon Retention and Recruitment
By Maria Sassian, Triple-I consultant Even before the pandemic and “the great resignation,” insurance faced a “talent gap”. Part of the challenge has been finding replacements for a rapidly retiring workforce, as the median age of insurance company employees is higher than in other financial sectors. The industry also needs new talent skill sets to … Continue reading Bridging the Insurance “Talent Gap”
Insurance industry decision makers and thought leaders gathered yesterday for the Triple-I Joint Industry Forum (JIF) in New York City to share insights on managing risk in the post-pandemic world. The in-person, daylong program was conducted in accordance with New York City’s COVID-19 protocols. Topics ranged from climate and cyber risk and the impact of “runaway … Continue reading JIF 2021: Risk & the “New Normal”