A.M. Best and Insurance Careers Movement hosted its annual Insurance Careers Movement Town Hall on Feb. 1, 2018. The virtual event was attended by a number of insurance carriers, such as AIG, Marsh and McLennan and the Insurance Industry Charitable Foundation (IICF), among others.
Since 2015, February has been recognized as Insurance Careers Month by a variety of carriers, agents/brokers, trade associations and industry partners who turned a once-a-year event into an ongoing campaign: the Insurance Careers Movement.
The insurance industry is constantly adapting to a changing society, but the imminent change the industry is gearing for is the number of baby boomers set to retire in the coming years. To counter this, insurance leaders know they need to connect with millennials to bridge the gap. Insurance Careers Months serves to highlight all the benefits of a career in insurance while recruiting the next wave of talent.
Related: 6 ways to tackle the insurance industry talent gap
|CEOs share their thoughts
Every year, the event attracts a number of leaders in the insurance industry. Many expressed their hopes regarding the industry's future and how diversity will help companies attract younger talent, among other subjects. Here a few statements from the town hall.
Brian Duperreault, president and CEO of AIG: “…I think we all find ourselves surprisingly in the insurance business. That's just the nature of the beast. It's a wonderful revelation. When you find out what this is really like, you had no idea. [Many of us] were lucky enough frankly to find this business… I think it's incumbent upon us, and that's part of this whole careers movement, to get the word out, to explain to others how good this really is. We have such great material, such a great story to tell. We've got to tell it.”
Bill Ross, CEO of IICF: “Millennials can help drive… cultural change to bring about a new way of thinking about insurance both in the working environment and the products themselves. As a new individual considering employment I would stop for a moment and say, what is going to excite you? Learn about the industry, understand its complexities but also look at its opportunities… If you just take that moment to look at insurance, you'll find there are many opportunities and many exciting experiences that you can follow.”
Inga Beale, CEO of Lloyd's of London: “Diversity to me is all about tapping into the best and brightest talent, whoever they are, wherever they come from. We want a whole sort of melting pot of different types of people… In order for us to be competitive and to be very successful going forward, we've got to have our employees more and more reflecting our customer base. Therefore, you understand their needs. You can communicate in the same language as they communicate with you. Importantly, you have a much better understanding and rapport.”
For ideas and resources to participate in Insurance Careers Month, go to InsuranceCareersTrifecta.org, and follow the conversation on Twitter using the hashtags #InsuranceCareersMonth and #CareerTrifecta. Full videos of this year's event can be found at http://www.ambest.tv/icm2018.
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
© 2024 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.
Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
