Insurance Industry Talent Shortage, The Case for Business Process Outsourcing
With nearly 400,000 employees expected to retire from the insurance industry workforce within the next few years, according to the U.S. Bureau of Labor Statistics –Insurance Journal
With predictions that automation is going to replace 25% of the workers in the insurance industry, it is no surprise technology jobs are on the rise. This survey showed this to be clear with over 45% of the companies mentioning that technology talent is a huge challenge to recruit and retain. –GreatInsuranceJobs.com
However, even with increased automation, people power may yet prevail. On the staffing side, human capital can still make the biggest difference in securing a carrier’s future growth and profitability, as companies are going to need talent not just to replace the growing percentage of those close to retirement age in the industry, but those with new types of skills as well—more data scientists, for example. –Deloitte
Managing the generational turnover
Who will keep the the insurance industry running during this transition? A dwindling about to retire generation with long experience in the way things have always been done? A new crop of recruits with new ideas, but little experience with the day to day operations? Automation that requires hard to get skills, especially when seasoned with long experience in the insurance industry? The managers who have to handle the generational transition while dealing with regulatory changes? Each freelancer or consultant brought on board is just another head to manage.
What Insurance Industry managers need is a single point of contact to take on an entire process and ensure that the job is done securely and reliably with minimal call on limited management resources.
The Telegenisys Difference
Telegenisys has been connecting together different services to fit business needs since our founding in 1994, and we’ve been a reliable partner to the Insurance Industry for over a decade. Our clients keep coming back to us for additional tasks because we have proven how secure, reliable and discreet we are. Get a free quote today and see how we can manage your routine tasks so that you can focus on the coming reinvention of the Insurance Industry.