Collaborative To Promote Insurance As A Career

November 9, 2015

A collaborative of insurance carriers, trade associations and industry partners have invited the insurance community to join them in supporting the first-ever Insurance Careers Month to be held during February 2016.

Insurance Careers Month is the kick-off of a cross-industry, multi-phased initiative designed to raise awareness of the dynamic career opportunities in the risk management and insurance profession and to recruit the next generation of industry leaders.

Hamilton Insurance Group; MyPath, powered by The Institutes; Valen Analytics; The Jacobson Group; InVEST; and PCI have designated February for a month-long focus on careers in insurance.

The group said it’s :the first part of a campaign promoting insurance as ‘the career trifecta’, a phrase chosen because it encapsulates the three key attributes of a job in insurance: it’s stable, it’s rewarding, and it’s limitless.”

Leading industry CEOs, including Brian Duperreault of Hamilton Insurance Group, Inga Beale of Lloyd’s of London and Dan Glaser of Marsh & McLennan Companies, have already lent their support to Insurance Careers Month, publishing an open letter calling for brokers, carriers and business partners to get involved.

“Our industry is at a critical juncture, with new risks fueled by rapidly evolving technology,” said Mr. Duperreault.

“It’s an exciting time to work in companies that help keep individuals, families, communities and governments safe. If a young person wants a purpose-driven career, he or she will find it in insurance. “

Individual companies and organizations interested in participating in Insurance Careers Month will be encouraged to broaden their local outreach and share what makes the industry a great place to work, amplifying the message that the insurance industry is hiring and has solid opportunities to offer next generation talent.

The United States insurance industry contributes more than $420 billion to the country’s GDP and employs more than 2.6 million people in stable, rewarding careers with limitless growth prospects that support innovation, from driverless cars and unmanned drones to climate change and cyber warfare.

“We’re at an exciting crossroads in our industry where innovation and growth are propelling organizations to new levels, and we need an influx of top talent to provide support and bring new perspectives to the table,” said Peter Miller, president and CEO of The Institutes, which, at the insurance industry’s request, launched MyPath in 2014 to unify the industry and excite the next generation of talent.

“We’re proud to be working with such great organizations in uniting the industry to tell the world how terrific it is to work in risk management and insurance.”

“As the industry continues to grow and the current workforce begins to retire, organizations will need to fill more than 500,000 jobs between now and 2022,” the group said.

“Yet, very few students and young professionals are even aware that these careers exist. Insurance Careers Month aims to build excitement around the many opportunities available.”

“As insurance professionals mature, baby boomers prepare for retirement, and organizations shift their focus toward building up their staffs, insurers are facing a growing ‘war for talent,’” said Greg Jacobson, co-CEO for The Jacobson Group.

“The focus needs to shift toward recruiting and engaging the next generation of talent and bringing millennials into insurance. Insurers must join together and rebrand insurance as the industry of choice for young professionals.”

“PCI is proud to take part in this initiative to help attract millennials to the insurance industry, as it really offers them exciting opportunities for innovation,” said June Holmes, COO and Treasurer, at PCI.

“Some of the ways insurers are innovating is by developing new solutions to meet the demands of cyber security, green technology, the sharing economy and other emerging trends.

“To attract millennials into our industry, we need to better tell our story and connect on issues important to this generation.”

“Insurance is at the precipice of massive innovation and disruption, which provides a once-in-a-lifetime opportunity for next-generation talent who want to make a difference,” said Dax Craig, CEO of Valen Analytics.

“Valen is passionate about engaging the brightest minds to help build the insurance industry of the future. Insurance Careers Month will create a collaborative forum to promote all the exciting, innovative careers insurance has to offer.”

“The Independent Insurance Agents & Brokers of America, in partnership with InVEST, continues its efforts to address the talent shortage looming over our industry and sees talent recruitment as a top priority,” says Bob Rusbuldt, Big “I” president & CEO.

“By participating in Insurance Careers Month, the industry will speak with a unified voice to attract millennials to the industry and promote the diverse and rewarding careers insurance has to offer.”

“To learn more about how you can get involved, visit the Insurance Careers Month website. This is a grassroots collaboration with no fundraising involved,” the group said.

The letter signed by the three CEOs follows below [PDF here]:

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Comments (2)

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  1. stunned... says:

    really??? Great idea, a day late and a dollar short but better than nothing.

  2. Free Courses says:

    Hopefully this means that the Institutes is willing to either waive exam fees or course material, as the price for a student to gain accreditation without a company’s support can be prohibitive.