Insurance Careers Month
February 23, 2016 by Jamie Johnson
An open letter to our industry colleagues and partners,
Our world is rapidly changing, with emerging risks that are as complex as any we’ve ever seen. As a society, how will we address climate change, cybersecurity and water scarcity? And how will we deal with the rise of drones, biotechnology, nanotechnology, 3d printing, and artificial intelligence?
Our industry, the insurance industry, must play an important role in addressing these challenges. Together, we provide important strategic benefits to society and drive economic growth by enabling the pursuit of innovation, the investment of capital and the creation of value.
Without insurance, there is no investment, there is no innovation, and there is no growth.
Despite our essential role, the insurance industry in the U.S. faces a looming talent crisis. 25% of insurance professionals are expected to retire in three years, and 400,000 positions are projected to be unfilled by 2020. Less than 5% of Millennials express interest in working in our industry.
What’s clear is that the critical role our industry plays is not fully understood, particularly among Millennials. We need to do more to engage, educate and enlist the best and brightest to join us.
During the last six months, PCI, MyPath – powered by The Institutes, The Jacobson Group, Valen Analytics and InVEST have been working on a strategy to address this issue. We’re pleased to announce the formation of a cross-industry initiative to highlight career opportunities in insurance, and we invite you to join us. We’re not asking for funding. Instead, we’re asking for the commitment of hundreds of carriers, brokers and industry partners to join with us in spreading the word:
Insurance is the career trifecta: it’s stable, it’s rewarding, and it’s limitless.
Phase one is Insurance Careers Month, to be held in February 2016. More information on this cross-industry initiative is available online. Register to pledge your company’s support and you’ll receive more information about how to participate in Careers Month.
We look forward to collaborating with you and the Millennials already working in our organizations to engage their peers in a phase two launch slated for September 2016.
Thanks to our industry, lives and livelihoods get rebuilt following loss. Our people and our companies supply the products and services that enable businesses to function and innovate, communities to grow, and individuals to thrive. Ours is a noble and laudable industry, and we’re excited about the opportunity to make a meaningful difference in the future.
We hope you will join us today.
Brian Duperreault, Chief Executive Office, Hamilton Insurance Group
Inga Beale, Chief Executive Officer, Lloyd’s
Dan Glaser, President & CEO, Marsh & McLennan Companies