Insurers in the United States are currently witnessing a heightened demand for employment opportunities, with the addition of 39,500 new jobs in 2023, as per data from the U.S. Bureau of Labor Statistics. The competition for specialized talent in underwriting and claims has reached unprecedented levels, while over 60% of carriers intend to expand their workforce this year. This emerging trend is primarily fuelled by the imperative to provide exceptional client experiences through bespoke policies and optimal claims outcomes. However, the task of identifying and nurturing such expertise poses notable challenges.
Ashley Moffatt, the Senior Vice President at Nationwide E&S Brokerage Primary Casualty, outlined the insurance giant’s ambitious recruitment plans, motivated by their dedication to cultivating a flexible and supportive workplace environment. Nationwide is deliberately constructing a workplace that offers flexibility, access to advanced technology, avenues for professional development, and meaningful involvement with the local community.
The transition to remote work during the COVID-19 pandemic has proven to be transformative for numerous companies, resulting in enhanced productivity and employee satisfaction. Nationwide, for instance, has embraced a combination of remote, hybrid, and in-office positions to accommodate varying employee preferences and life circumstances, while also broadening the talent pool to include candidates nationwide.
Employing cutting-edge technological tools constitutes a pivotal strategy in attracting top talent. Advanced underwriting platforms and AI-driven analytics not only enhance service and delivery but also contribute to a stimulating work environment for technologically adept employees.
The insurance industry must also focus on providing opportunities for professional development and personal fulfillment. Formal training sessions, mentorship programs, and upskilling of experienced professionals are imperative in retaining top talent and nurturing their career growth. Additionally, employees appreciate employers who are committed to social responsibility and community engagement, as it allows them to feel connected to a greater purpose.
Moffatt also emphasized the significance of fostering a supportive work environment that encourages collaboration and communication between underwriting and claims professionals. This level of connectivity is crucial in ensuring consistent service for clients and sustaining long-term profitability.
Ultimately, retaining top talent in the insurance industry is beneficial for both the carriers and their clients. It guarantees that carriers are equipped with specialized expertise to continue delivering exceptional results and maintaining enduring success in the market.
For further information, please visit nationwide.com/brokers.
About Nationwide
Nationwide is a Fortune 100 company and one of the largest and strongest diversified insurance and financial services organizations in the U.S. It is rated A by A.M. Best and A+ by Standard & Poor’s. Products are underwritten by Nationwide Mutual Insurance Company and Affiliated Companies. Not all Nationwide affiliated companies are mutual companies, and not all Nationwide members are insured by a mutual company. Home Office: One Nationwide Plaza, Columbus, OH. Nationwide, the Nationwide N and Eagle, and other marks displayed on this page are service marks of Nationwide Mutual Insurance Company unless otherwise disclosed.
The original article was produced by the R&I Brand Studio in collaboration with Nationwide, with no editorial role played by the staff of Risk & Insurance.