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Insurance carriers look to boost headcount, alter recruiting strategies

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Within the P&C industry, the list of insurers looking to boost their headcounts has grown steadily in 2021, with carriers pitted against each other — as well as tech giants and financial services firms — in the search for skilled and experienced workers. 

In response, insurance companies have changed their recruitment strategies and employee offerings to include incentives like flexible work schedules, remote work arrangements and mental health resources to stand out and recruit more talent. Here are some ways some leaders in the industry have been changing up the way they’re approaching the hiring process. 

Increasing headcount

Despite technological advances, a recent LexisNexis survey showed 51% of consumers still prefer to interact with a live person when submitting an insurance claim, proving that when it comes to insurance, people still want to talk to other people.

Offering career advancement opportunities

Work-life priorities have changed over the past few years; employees aren’t just looking for cool office amenities and fun work perks anymore. Instead, people are looking for meaningful offerings like mental health resources, support for continuing education and hybrid office hours. Many carriers have started to place a higher value on career advancement, job stability and the positive social value of insurance to reflect those nice-to-haves. 

Taking advantage of remote work 

With many companies transitioning employees to work remotely in the past year, some insurers are recruiting employees that aren’t physically near existing offices because they simply don't have to anymore. 

Consolidation

Instead of building regional customer bases from scratch, larger carriers have acquired smaller agencies to expand their reach in the past few years. Some insurers have partnered with insurtechs and start-ups, allowing companies to offer a diverse range of job opportunities and better bundles to customers. 

Operating in a hybrid environment poses as the new normal, even in the world of insurance. As industry leaders modify the way they approach business models, the workforce, and operational trends to be more digital-centric and less “traditional”, it will be interesting to see how P&C insurers blend old ways of operating with new technologies. 

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The Zebra

The Zebra is the nation's leading independent insurance comparison site. The Zebra compares more than 100 insurance companies and provides agent support and educational resources to ensure drivers are equipped to make the most informed decisions about their home and auto insurance.