Revolutionizing Insurance: It’s Time To Change Perceptions
Free Partners releases “The Re:Generation Report”
London, UK (Sept. 16, 2024) – The insurance industry is teetering on the brink of a major recruitment crisis. With an ageing workforce nearing retirement, the clock is ticking, and the talent pipeline is running dry. But here’s the real kicker: it’s not because young professionals are rejecting the industry – it’s because they fail to see how it will meet their career aspirations.
We have the power to change that.
The Perception Problem: It’s Not What You Think
In our latest research, The Re:generation Report, Free Partners LLP surveyed over 1,000 young people across the UK and US. The results were eye-opening.
The insurance industry is sitting on a goldmine of career opportunities – meaningful work, career growth, and work / social life harmony – but it’s wrapped in a package that’s perceived as staid, untrustworthy, and uninspiring. This isn’t a talent crisis; it’s a perception crisis. And it’s one we can fix.
Infographic: Career aspirations of young people vs. what they believe a career in insurance can offer
Why This Matters: The Future of Insurance Depends on You
For CMOs, CEOs, insurance leaders, and HR professionals, this is your moment. The future of the insurance industry is in your hands. You have the power to flip the script and transform insurance into an industry that young professionals are eager to join. There’s no question that we’re in a crisis, but true leadership will determine how much of a crisis we’re in. Those that can seize this opportunity will have a pool of the best and brightest, ready to propel the next generation of our industry.
The question is: are you ready to lead that change?
The Call to Action
“As the insurance industry faces the dual challenges of an ageing workforce and a shrinking talent pool, it’s clear that the problem is more than just a recruitment issue – it’s a perception issue. The time for action is now. We need to shift perceptions and showcase how much fulfilment the industry has to offer,” comments Lorraine Jeckells, Managing Partner, Free Partners LLP.
“Our survey highlights that young professionals don’t see insurance for what it truly is: a sector that offers impactful careers with growth potential and work-life harmony. Now, more than ever, marketing, HR, and industry leaders need to unite and drive a collective effort to reshape the narrative. Together, we can change perceptions and secure the future of our industry.”
The Roadmap
The Re:generation Report doesn’t just identify the problem – it offers a blueprint for success. We lay out the strategies that will help the insurance industry connect with the next generation, reshape the narrative, and secure the talent that these organisations need to thrive.
Download the Re:generation Report here.
About Free Partners LLP
We’re Free, the award-winning, brand-building, insurance-loving creative agency. We’ve helped some of the biggest businesses in the industry create distinctive brands and high impact campaigns that get results. For more information, visit freepartners.com.
Source: Free Partners LLP
Tags: human resources, survey, Talent Management, United Kingdom (UK)