The insurance industry is facing a major shift as experienced claims professionals retire, taking with them decades of institutional knowledge. Research shows that up to 50% of today’s insurance workers may retire by 2028. While this challenge is significant for all insurance companies, it’s increasingly challenging for regional insurers with fewer training resources.

“We’re losing a ton of institutional knowledge,” says James Novotny, national account compliance at BELFOR Franchise Group’s Claims Partnership program. “The more experienced generation knows how to assess claims quickly, handle difficult situations and navigate complex cases. The challenge is transferring that expertise before they leave.”

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