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Commentary

5 priorities for the 2015 claims workforce

Insurers should address critical current and pending gaps in the claims labor force.

By Michael A. Costonis | Updated on January 12, 2015

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. 

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