Industry Spotlight: Recruiting in Insurance
Insurance is a core part of living and doing business in the modern world. Even with the stability of demand, however, the industry of insurance itself is changing like any other. An important part of keeping up with the evolution of this field is, of course, building a strong recruitment strategy.
What Makes a Great Insurance Agent?
A position as an insurance agent can be quite demanding on a technical level. As a result, insurance recruiters will often be faced with the question of whether to hire for hard skills that are specific to insurance or to hire for sales aptitude. For some, it may seem that the former is most often the best way to go, but this isn’t necessarily true. Insurance is a business that deals closely with people. Without the ability to establish and nurture strong human relationships, technical expertise will only go so far, even for the most seemingly promising recruit. It’s far easier to teach the ins and outs of insurance than it is to teach compassion and relatability.
Internal and External
While the previous points focus on sales, there’s far more to insurance than this. Claims, accounting, customer service, and risk management are examples of the many moving parts that comprise the industry. The potential of recruiting internally should therefore be held closely in mind. A team member in customer service, for instance, may be dreaming of a top sales position. If that recruit shows promise, they shouldn’t be overlooked. Meanwhile, when recruiting externally, never underestimate the power of a strong referral program to incentivize your team and connect with talent who may be more likely to fit into the company culture.
The Future of the Industry
As mentioned above, insurance as an industry is changing. Technology and software are playing more prominent roles in how insurance functions. Big data, predictive analytics, and customer segmentation tools are being integrated into customer service and sales, while underwriting tasks are increasingly automated and the self-service model is streamlining claims reporting at the customer level. Factors like these mean that recruiters will need to be diligent about seeking out and hiring versatile, tech-savvy insurance talent. This is true in virtually all areas of the industry. To keep up with the modern world, modernize your recruitment!
Will your insurance company adapt to the shifting landscape of the industry? As Canada’s foremost team of recruitment specialists, we’re here to help ensure that your team is as strong as it’s ever been. Get started today by contacting a Summit Search Group office near you.