In an ever-evolving industry, insurance companies are grappling with a significant challenge: attracting and retaining top talent. Leading voices such as CEOs and Presidents weigh in on this pressing issue, offering nine valuable insights. The discussion kicks off with the importance of creating clear growth paths and concludes with the necessity to adopt modern technology and flexibility. Discover all the expert strategies that can help transform talent acquisition and retention practices.
9 practitioners on the record
Gregory RozdebaCEO, Dundas LifeAs someone running a digital insurance brokerage, I've noticed young talent often sees insurance as old-fashioned and boring, which makes recruitment really tough. We're tackling this by creating clear growth paths and letting our team experiment with new tech tools—like when we let our junior analysts lead our AI initiatives, which got them super-excited and improved our retention by 40% last year.
Dan PonomarenkoCEO, WebvizioIn my marketing experience, I've seen insurance companies struggle to tell their story in a way that excites potential hires, especially when competing against flashy tech startups. What's working well is showcasing real employee stories on social media and during recruitment—like featuring our claims specialists who helped families during natural disasters—which helped us attract candidates who want meaningful work.
Jonathan GerberPresident, RVW WealthAs someone managing wealth and leading a financial team, I’ve observed that insurance companies often lose great candidates to fintech firms offering higher salaries and more flexible work arrangements. We’ve had success by emphasizing our stability and comprehensive benefits package, plus offering hybrid work options—just last quarter, we retained three top performers who had competing offers by letting them work remotely two days a week.
Running a tech company, I've seen firsthand how the insurance industry is falling behind in attracting people with AI and automation skills. Recently, I helped an insurance firm implement our AI platform, and they started offering paid training programs in data science, which helped them retain 85% of their younger employees who were considering leaving. I believe insurance companies need to invest more in upskilling programs and create clear career paths for tech-focused roles to stay competitive.
John ChengCEO, PlayAbly.AIAs someone who's built tech teams from scratch, I've noticed insurance companies often struggle because they're competing with flashy tech startups while still carrying their traditional-industry image. From my experience at PlayAbly and Unity, we've had success by creating hybrid roles that blend traditional skills with emerging tech opportunities, like letting underwriters experiment with AI tools or having claims adjusters work with drone technology.
I've noticed that insurance companies struggle to shed their 'boring' image, especially when competing against flashy tech firms for young talent. Last month, I worked with an insurance client who transformed their recruitment approach by highlighting their AI initiatives and remote work flexibility, which helped them attract 40% more Gen Z applicants. Being an HR consultant for 15-plus years, I've found that companies successfully retaining talent are the ones creating clear tech-focused career paths and meaningful mentorship programs that give younger employees a sense of purpose beyond just selling policies.
Michael BenoitFounder and Insurance Expert, ContractorBondOne of the biggest challenges for insurance companies in attracting top talent is shedding the outdated reputation of the industry being "boring" or rigid. This perception can make it difficult to bring in younger professionals who crave roles that are adaptive, tech-driven, and personally fulfilling.
In response, companies are putting a strong focus on building a more engaging, flexible work environment. They're integrating new technologies, such as AI and data analytics, into day-to-day operations to create roles that feel relevant and exciting. Likewise, many insurers are adopting hybrid work setups, allowing employees the flexibility they value. This shift is not only helping to recruit new talent but is also increasing loyalty among existing team members who see that their company is committed to evolving alongside the modern workforce.
Jaime AriasPresident, Dynamic Insurance SolutionsThe insurance industry has always struggled to attract people to it due to its being perceived as a very traditional and "boring" industry. It tends to attract risk-averse individuals or individuals who have some kind of historical connection to the industry.
To add to that, nowadays, the environment has changed, and top talent expects a different set of standards from their job than just a stable paycheck and predictable hours. In my experience, top talent values performance rewards and opportunities for growth more than stability.
The industry has been very slow to adopt technology in the workplace, and as a result, few companies in the industry offer the hybrid or fully remote work arrangements that some of the top talent wants. This can be easily remedied as the reality is 80 to 90% of insurance jobs can be done fully remote. Nowadays, clients rarely meet their agents in person, and even adjusters rarely physically see the objects in the claims they're working on.
Insurance companies and agencies need to position themselves as the top option for talent by giving talent what it wants. It is well known that insurance companies, and particularly the intermediary sector, do not offer the highest salaries, but a lot more can be done for employees, such as offering non-traditional benefits like longer parental leave and providing opportunities for career growth. Give employees a path, and the top candidates will follow it. Additionally, while raising fixed salaries has a limit, insurance companies have the ability to provide greater performance-based incentives, and they should use it.
Eamonn TurleyCEO and Insurance expert, Multi Quote TimeOne significant challenge insurance companies face in attracting and retaining top talent is the need for industry appeal among Millennials and Generation Z.
As someone deeply embedded in the insurance sector, I've observed that younger generations often perceive insurance roles as outdated or lacking innovation.
To counter this perception, companies are adopting modern technology and flexible work arrangements that resonate with the workforce's desire for a balanced lifestyle and meaningful work.
From my experience, fostering an engaging, forward-thinking workplace culture makes a profound difference. We emphasize continuous learning and development, ensuring employees feel valued and empowered to contribute fresh ideas. By investing in state-of-the-art tools and creating pathways for career advancement, companies retain talent and inspire the next generation of insurance leaders.
