In the midst of a soft property-casualty market and an economic downturn, insurance industry players are looking for cost savings anywhere they can find them, and continuing education is no exception. Yet training is certainly not being completely slashed from company budgets, as many organizations sharpen their focus, pursue shorter-term development goals, and seek cheaper alternatives, such as online courses.
Those who provide insurance training and education programs are meeting the insurance industry's demands by developing newer and cheaper ways to provide such services. For example, webinars are replacing some forms of classroom training, and at least one education provider is offering a few limited webinars for free–both to save potential attendees money, but also to spark interest in future online education ventures.
The industry's need for education and training is critical, according to Alice Gannon, senior consultant with EMB America LLC, who noted that the insurance industry is–and has historically been–at a relative disadvantage when it comes to attracting talent. To recent high school and college grads, she said insurance does not seem to be an attractive choice. The industry is not well understood, and is seen as confusing or dull, she explained.
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