The telecoms sector is currently faced with a wide range of opportunities and challenges that could make (or break) organisations. Many of these transformations are being driven by the emergence of new technology and require employers to consider new ways of obtaining the talent to get the work done.
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The insurance industry is undergoing a number of exciting and innovative developments that make it a great place to work. However, if you’re not currently working in the industry, you may not know it. Many people view it as an antiquated industry that has serious working environments, and has struggled to keep up with the times.
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Insurers want to attract Millennials to both buy their services and work for them. And there’s an important link between these two priorities. Individuals who have a poor experience during the hiring process are unlikely to want to engage with that company as a customer.
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As the insurance industry undergoes significant transformation, driven by digitisation and changing customer expectations, we can expect the workforce to experience substantial disruption. We know that new roles are already being created across the industry, such as Cyber Liability Analysts, while other roles have become obsolete. We can expect the pace of change to accelerate in the months and years ahead, as technology continues to get more sophisticated.
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Insurers are being challenged to offer new services and products to their customers, delivered in new ways. This is already having a significant impact on the make-up of IT departments, and is set to further ramp up in the months and years ahead.
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Employers in the telecoms sector are cautiously optimistic about hiring for the coming months. They plan to expand the size of their workforce this quarter – which is in stark contrast to the beginning of the year, when headcount was being reduced.
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Insurance is a careful balancing act. Since it’s typically based on a risk-distribution model, individuals or companies are grouped together based on certain behaviours or attributes, and premiums are charged accordingly. Charge too much, and potential customers will look elsewhere. But if you charge too little, or if there are more claims than anticipated, then it’s the insurer that will feel the pinch.
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The insurance industry is being transformed, because people and businesses want different things from their insurers than they did in the past. They’re looking for insurers that offer greater personalisation, ultra-flexibility, increased convenience, and better value for money – all this, without making any compromises on their cover or taking on additional risk.
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