C-Suite - Broker: Time to attract young talent

However, the element that appears to be overlooked is the continual failure to respond to the perception of the industry by young people, who are not taking up careers in insurance. According to the CII, only 46% of firms believe the UK education system is serving the needs of the insurance professional.

So have any strides been taken to change this perception? What can the industry do to reach those precious students and graduates that will take our industry into the next century?

It seems young people see a job in insurance as a short-term career, either spending time in a contact centre, or as a back-office administrator. It is viewed as a staid profession, seemingly only suitable for those that want to work in the same company as their fathers or grandfathers. It is also overlooked because many believe they need financial qualifications to enter the industry.

This is the element that staggers me: how did we get to being viewed in this way?

Insurance providers are adopting new technologies and applications in countless ways; the world is changing; and we are moving with new thinking and innovation. But we need to convey these exciting careers as viable options to graduates.

Many in the industry have extensive experience, but we need to inspire more young people to come into the industry, with the tenacity and passion to take it to the next level – and the next century. For broking, the call to action needs to be addressed as a priority.

Despite an improvement on the previous year, 59% of firms stated there is still a skills shortage in the industry. This remains too high, and only by getting into schools, colleges and universities can we really convey the long-term benefits of a career in insurance. Young people are missing this opportunity in their careers, but that’s our fault, not theirs.

Paul Williams
Chief executive, Brightside Group