2020 marked the beginning of a tumultuous chapter for the insurance industry. A global pandemic changed the way we worked and forced carriers to rapidly develop new remote work strategies. "The Great Resignation" resulted in tremendous amounts of knowledge leaving the industry. And, a general lack of interest in insurance by younger workers left insurers with a wide gap to fill.
It is no surprise then that a 2021 Jacobson Group/Aon study found that staff expansion throughout 2022 was top of mind for more than half of survey respondents. While many of these understaffing challenges are a result of long-term, experienced employees taking new opportunities elsewhere or approaching retirement, knowledge gaps are left unfilled across organizations that are unable to keep the pace of hiring and training up with customer demand. In this current environment, it may simply be seen as impossible to match the pace of hiring and training to that of those leaving the industry.
