There may still be plenty of slack in the U.S. workforce. However, if the economy continues at a growth rate of nearly 4% – with more than 200,000 new jobs added each month – it is reasonable to assume we may see signs of a tighter labor market, especially as the year progresses.
Property and casualty insurers have been discussing potential shortages in the claims workforce for years. Many claims processing professionals are over 45, and these individuals possess levels of knowledge and expertise that have yet to be passed on to the more junior ranks. Rather than taking a systematic approach to the problem of a generational change in the claims workforce, however, many insurers plug gaps as they occur, shifting resources around and hoping for the best. That approach may have worked in a slow-growth environment, but it will not be sufficient as the economy changes gears.
As 2015 gets under way, insurers should be thinking about a comprehensive plan, not only to address current and future gaps in the claims workforce, but to transform the role of claims professionals within the organization. We see such a plan as being based on five key elements:
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
