• Publish Date: Posted 3 months ago
• Author:by Dena Hyett

How to Overcome the Talent Shortage in the Insurance Industry

​Let’s not sugar coat it, hiring talented, skilled insurance professionals at the moment is hard. The insurance industry is facing a serious talent shortage. From underwriting to claims, broking to Insurtech, companies are struggling to secure the right people. As the workforce evolves, businesses must rethink their hiring strategies to stay competitive. The key question is - how do you actually stand out, attract the best talent and keep your best people from jumping ship in such a challenging landscape?Understanding the talent shortage – what’s really going on?The insurance sector has long been known for its stability and security. But here’s the thing, times have changed. There are a few big factors behind the talent squeeze: An ageing workforce - Many experienced professionals who have been in the insurance industry for a long time are retiring, and as they retire, a huge volume of knowledge is leaving with them, leaving gaps that are not easily filledChanging candidate expectations - Younger talent wants flexible, tech-led, purpose-driven roles and is less inclined toward traditional insurance jobsDigital transformation - Technology is taking over. Insurtechs, automation, and AI are redefining processes, creating a demand for digital-first professionals who can blend insurance knowledge with the latest innovationsCross-industry competition - Candidates with in-demand skills, such as data analytics and cybersecurity, are being snapped up by other sectorsDid you know: 72% of insurers say they’re struggling to find talent with the right tech and data skills, and nearly 60% worry they’ll lose staff to other industries this year. (Source: CII 2024 Insurance Talent Report).Insurance companies cannot afford to rely on outdated, traditional recruitment strategies. They must adapt by developing more attractive career opportunities, expanding their candidate reach and working with specialist recruitment agencies that understand the insurance industry’s unique challenges.Why traditional hiring methods no longer workPosting on a job board and hoping for the best? Good luck. That approach isn’t going to cut it any more, and here’s why: The best talent isn’t necessarily actively searching for jobs. They need to be foundSlow hiring processes lose great people. If you take weeks to move from interview to offer, someone else will snap your candidate upGeneral recruitment firms may not understand the specific skills and experience required in insurance. Specialist insurance recruiters who really understand the industry can find talent quicklyIt’s not just about having the right skills fit anymore; it’s about finding people who’ll thrive in your culture, aligned to your values, ethos and long-term visionSo, what’s the answer?The Solution: Partnering with an insurance recruitment specialistAt Gerrard White Consulting, we do things differently. Solving talent problems is what we do. We’ve helped insurance businesses of every size fill those tricky roles quickly and hassle-free. As one of the leading insurance recruitment agencies, we provide both contingent and permanent recruitment solutions across all insurance sectors, including:Personal Lines – Helping insurers find top talent for underwriting, claims, and policy administrationThe London Market – Delivering skilled professionals for syndicates, insurers, and brokers in this specialised segmentBroking – Connecting brokers with professionals who understand client needs and regulatory requirementsMGA & Insurtech – Sourcing experts who can drive innovation and digital transformationThird-Party Service Providers – Supplying talent for legal, claims management and support functionsHow Gerrard White stands outWith over 20 years’ experience in insurance recruitment, we understand the industry's complexities and unique challenges. Our consultants work closely with senior leaders, hiring managers, and talent acquisition teams to fulfil both high-volume and specialist hiring needs across the UK, Europe, and the US.We’re expertsUnlike generalist recruiters, we have an in-depth understanding of the insurance landscape. We stay up to date with industry trends, regulatory changes and evolving skill requirements. This enables us to source candidates who not only meet technical criteria but also align with industry demands.We’re proactive We don’t wait for candidates to apply - we actively seek out top talent. Through our extensive network, targeted headhunting, and advanced search techniques, we identify professionals who can make a real impact on your business.We’re flexibleEvery insurance company has unique hiring needs. Whether you require a high-volume recruitment drive, an executive search, or a project-based workforce solution, we tailor our services to match your specific requirements. Our flexible approach ensures you get the right talent at the right time.We’re fastIn a competitive job market, speed is crucial. Our streamlined processes and industry expertise enable us to deliver top candidates quickly, without sacrificing quality. We handle everything from initial screening to final negotiations, so you can focus on growing your business.Supporting digital transformationInsurance is going digital, fast. Insurtechs are growing. Traditional players are adapting. You need people who understand both the old-school fundamentals and new-school innovation. We specialise in finding exactly those hybrid professionals who can help future-proof your business.The future of insurance recruitmentAs the industry continues to evolve, recruitment strategies must evolve with it. Forward-thinking insurance companies are focusing on:Prioritising diversity and inclusion – Attracting talent from different backgrounds to drive innovation and better decision-makingInvesting in employer branding – Showcasing company culture, career development opportunities, and employee benefits to attract top candidatesFocusing on upskilling and reskilling – Investing in training and development to ensure employees keep pace with industry changesOffering a hybrid and flexible Working model - Offering remote and hybrid work options to appeal to a broader talent poolBy adopting these strategies and working with a recruitment partner that understands the industry's challenges, insurance companies can build strong, future-proof teams.Stand out, stay ahead.The talent shortage isn’t going away. To secure the best people, you need a specialist recruitment partner that thinks differently. At Gerrard White, we bring market expertise, agility and a commitment to finding solutions that work.Ready to build a stronger team? Let’s talk. Contact Gerrard White today and take the first step toward overcoming your hiring challenges.01892 553355 | info@gerrardwhite.com