The insurance industry is changing fast, and it’s because of millennials even more than it is technology.
With more than 400,000 job openings in the sector expected in the next several years — mostly due to retiring Baby Boomers — Millennials, who substantially outnumber Boomers and Generation X, are pouring into the industry and they’re so positive about their experiences, they’re recruiting heavily. Almost one-quarter of Millennials who participated in a recent Town Hall meeting to kick off the second annual Insurance Careers Month, which started on February 1, said they were working to convince their peers to join the insurance industry. A full 93 percent said they were proud to work in the field.
On that call, Brian Duperreault, Chairman and CEO of Hamilton Insurance Group, asked young professionals to spread the word that insurance is the “careers trifecta: stable, rewarding and limitless.”
"With the sharing economy, technological advances and associated emerging risks, this is a brave new world of insurance," Duperreault said. "We'll be facing gaps in management and new talent that make it difficult, if not impossible, to meet the needs of the digital world we're living in. So we need you.”
Mark E. Watson III, President and CEO of Argo Group, a specialty underwriting company, expanded on the many different types of opportunities available. "Whether you're interested in being a data scientist, an IT developer, a lawyer, or you're really good at sales and marketing, basically we've got cool opportunities for you,” he said, “If you're the kind of person that's really thoughtful, creative, innovative, likes to do different things every day, and is up for a challenge, you couldn't pick a better place to be than the insurance business around the world right now."
And speaking of opportunities… There are currently more than 25 open positions at Duck Creek in the United States, and more in India, Australia, the United Kingdom and Spain. For more on Insurance Careers Month, click here.
