Industry dynamics and talent market disruptions have presented an opportunity for insurers to transform their workforce and drive increased value for the organization. Practically, this means putting the processes, checks and balances in place to organize resources in a way that is diverse, and promotes employee growth.

To improve employee performance, companies must prioritize the needs and wellbeing of their people. In the insurance industry in particular, there is an opportunity to redesign and realign traditional roles around new ways of working, enabling employees to ‘upskill’ for market relevant skills (i.e. artificial intelligence, data & analytics) and adopt the tools they need to increase productivity.

Take the example of Disney, that created a ‘Disney Institute’ for employees to learn best practices in leadership, loyalty, and quality service. The initiative saw a 33% reduction in turnover and a 6% increase to over 90% increase in customer loyalty and satisfaction.