As aging personnel begin to leave the insurance industry in record numbers, the industry is developing strategies to counteract the shrinking workforce.
With 15 years of property/casualty experience working as a claims supervisor and defense litigator under his belt, Kevin Brown, the new executive director of the Griffith Insurance Education Foundation and current executive director of the CPCU society, understands the urgency in attracting new claims personnel.
In a recent interview with Claims Journal, Brown said the foundation has its own plan to address the coming workforce shortage, particularly in claims.
“One of the first areas that we’re focusing on is claims because clearly that segment within the industry is in need of new talent infusion,” Brown said.
The Next Generation Initiative, as the plan is called, takes information culled from an insurance education and career summit the foundation hosted last year. Representatives from more than 100 industry firms, associations and universities met to address the coming workforce shortage.
The plan encompasses a multi-pronged approach, taking into consideration different messaging vehicles needed to attract the incoming generation.
First, the foundation has created targeted college students by increasing career awareness with those students already entering insurance-related programs.
In addition, the foundation plans to partner with universities to create new RMI (risk management and insurance) programs to expand insurance opportunities at the college level.
“We’re doing things like partnering with Gamma Iota Sigma, which is…an insurance fraternity to work with them to get the word out in terms of RMI career opportunities,” Brown said.
The foundation is also is pairing qualified college students with internship opportunities and offering financial support for internships.
It even plans on developing targeted messaging for high school students.
“For high school kids, we’re going to create a web-based portal to provide students with access to career information and opportunities,” Brown said.
Brown expects collaboration with the CPCU Society to help attract a new generation of industry personnel.
“The respective chapters are the feet on the ground, if you will; they have the connections, the local chapters with the respective colleges and universities,” said Brown.
Listen to the entire podcast interview with Kevin Brown
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