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Industry experience
Our successful work with the insurance sector is based on our understanding of the unique characteristics of the industry’s distinct functions to create physical and virtual environments where everyone can thrive. Insurance is becoming an increasingly diverse industry, as it strives to expand the scope and scale of its product offerings through invention, expansion, and acquisition.
Whether we are working with claims, finance, legal, marketing or underwriting – our role is to know when to aggregate and when to differentiate a wide range of requirements all while supporting a cohesive organizational culture:
- Work settings
- Technology and equipment needs
- Time in and out of the office
- Collaboration vs. focused work
- Management and communication styles
- Education and training
- Client interaction
- Security
- Branding and communications
Industry challenges
The insurance industry is adapting to life beyond Covid-19 lockdowns by easing into more hybrid ways of working. Initially considered a means of reducing fixed costs, hybrid working is now a key factor in recruitment – one of the sector’s biggest challenges. As the industry becomes “remote first” – embracing not only new technologies, but a new mindset around what technology can do – younger workers drawn to the industry will have the vision and the tools that empower them to address and improve upon customers’ increasing demand for faster, less-redundant processes and more personalized services.
In a broader sense, these changes will help expand the talent pool needed to enable the sector to focus on the even greater challenges of mitigating risk around societal and economic problems, governmental regulations, natural catastrophes and human-made threats.
Aging workforce
A key workplace challenge – and not one exclusive to the insurance industry – is that a balance must be struck between people, place and technology. A conundrum intensified by the pandemic, is that while new workers were being hired (without ever seeing the inside of their office) older workers were aging out of the workplace (taking years of experience with them). In a post-pandemic world, this situation persists as each generation maintains different expectations of the physical and virtual workplace.
Future growth dependent on M&A activity
One business challenge facing the industry is that future growth will increasingly depend upon mergers, acquisitions and third-party partners to expand and innovate services. This will pose new challenges in change management, communications and assimilation; process and regulations; safety and security. Creating an environment where a collegial, cohesive culture can thrive will be essential.
