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Latest Insurance Talent Perspectives

The Human Element of AI Transformation

Discover ways to effectively navigate through AI transformation. Only 4% of companies say they’re creating real value from their AI investments. The key differentiator is how well organizations manage the human side of implementation. 

Download the white paper to explore best practices for taking a human-focused approach as you lead through change.

Recruiter Report: Find the “Perfect” Candidate

Finding top talent remains difficult in today’s labor market. However, holding out for the “perfect” candidate may mean losing out on high-potential individuals that would thrive in the role.

Read our blog post gain insights on redefining what the ideal candidate looks like and share how to take a realistic and future-focused approach to making the right hire.

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Six Ways to Humanize Automation

Ongoing technological advancements offer endless possibilities for the insurance industry. However, keeping employees engaged and motivated through modernization processes is vital for success.

Business Continuity in Times of Uncertainty

The coronavirus is top-of-mind across the globe and the insurance community is starting to feel the effects, from heightened health awareness to travel restrictions and self-imposed quarantines. When we at The Jacobson Group were preparing for the potential impact of this strain of the coronavirus (COVID-19) on our employees, company and clients, we realized our perspective as a talent-focused organization might prove beneficial for others as they establish their own plans. While we’re fervently hoping the coronavirus weakens, we have highlighted four essential considerations to support ongoing employee wellness and business continuity. Determine Business Impact and PreparednessFirst, insurers should review possible ramifications of the coronavirus outbreak: Will your business be impacted? If so, how? What are the major risks, and how could they be best mitigated? For example, you likely want to consider how service levels will be affected in case of employees’ isolation or quarantine, as well as how to manage the influx of health or stop-loss claims if the virus continues to spread. In addition, off-site business meetings could be cancelled and need to be replaced by virtual alternatives. Likewise, employees may no longer be able to attend planned conferences because many organizers are postponing or cancelling events as a precautionary measure; you may want to determine alternative options for continuing education opportunities, especially if that contributes to employees’ annual performance and development goals. Travel restrictions or office closures could also impact job interviews for open positions. Consider how you can leverage phone or video interviews to keep the recruitment process moving. Determining likely areas of impact on your operations and employees, like these, and drafting a plan of response will ensure your organization is well-prepared for all possible scenarios. Communicate Clearly and OftenMake sure to inform employees of changes and expectations in detailed, precise language and keep lines of communication open to avoid the spread of misconceptions and alleviate uncertainty. Align messaging with guidelines from the Centers for Disease Control and Prevention, as well as local health authorities wherever your employees are located. Messaging should also be consistent internally so leaders – from executive team members down to individual managers – are passing along the same information and creating a united front. Sharing these best practices will show your staff you’re reliable and proactive, and you will know everyone is on the same page in case of escalation. In your notifications to employees, consider including details such as how you are currently addressing the coronavirus outbreak, what you plan to do if the situation intensifies, when and how they should expect to receive further information, and whom they should contact with questions or concerns in the meantime (e.g., their manager or an HR representative). Above all, strive to make this communication transparent and empathetic. Your employees are likely worried due to all of the unknowns surrounding the circumstances, and they will be looking to you as a source of stability and comfort in the workplace.Prepare for Remote Work ArrangementsHealth authorities have cautioned against sick employees coming into the office, and you likely are already encouraging employees to stay home if they feel unwell. Telecommuting can further reduce the spread of germs within your office. You may choose to implement remote work arrangements for employees who display potential symptoms but otherwise feel well enough to work or as a precautionary measure for those who have come into contact with someone who has potentially been exposed. Preparing for telecommuting now will enable more of your staff to continue working in such circumstances, rather than requiring them to take time off and, thus, disrupting business as usual. If you don’t already have work-from-home protocols in place, a dry run will ensure employees are well-equipped if centralized operations are suspended. Staff members should take any essential technology home to test connectivity, determine optimal communication methods and set up dedicated work spaces. Help employees stay on task while working remotely by establishing clear deliverables and boost morale by maintaining regular face-to-face contact via videoconferencing programs like Skype, WebEx or BlueJeans.Have a Back-up PlanIf your company closes offices, some employees may not be able to work at their typical capacity. In particular, parents of young children could encounter difficulty if schools close and their focus shifts to caring for their families, regardless of your organization’s ability to support remote work. Additionally, it’s possible that claims volumes and customer service needs could spike in coming weeks. Coupled with the potential for being short-staffed, some organizations may require extra help. To ease the stress of filling gaps with qualified professionals, consider engaging with a firm experienced in providing the remote insurance talent you may need. Remote claims professionals can handle an increase in stop-loss or health insurance claims, or interim customer service specialists can assist with an influx of coverage inquiries. Regardless of the ultimate impact of COVID-19, knowing contract employees are able to quickly step in can give you the peace of mind necessary to concentrate on employee health and business-critical operations. Being prepared for the unexpected is important at any time, and we hope these considerations are helpful in ensuring your business continuity now and in the future. Please know we are here to help if the United States becomes further impacted or if your company takes precautionary measures.

Jacobson Employee Spotlight – Mar. 2020

As a people-focused organization, The Jacobson Group is dedicated to our employees and their professional development. On Employee Appreciation Day 2020, we’re highlighting two of our staff members in particular. First is Caitlyn Manuel, corporate recruiting manager. Caitlyn won last quarter’s Bravo award, which recognizes individuals who have exemplified outstanding performance, service, and commitment to our core values and goals. Second is Matthew Moore, client development manager, who is new to Jacobson but has already made an impact. You can view previous editions of our Employee Spotlight here. CAITLYN MANUEL Corporate Recruiting Manager, 6 years, 10 months at Jacobson Hometown: Chicago Heights, Illinois Alma Mater: Eastern Illinois University Describe Your Role: As the corporate recruiting manager on the HR team, I'm tasked with strategically engaging and recruiting candidates for our various internal positions.    Favorite Thing about Jacobson: I love the camaraderie among the employees. There's a feeling of home and family every time I walk through the doors at work, and it's something I never take for granted. Jacobson in Three Words: Family, Collaborative, Supportive Best Advice: If you're early, you are on time. If you're on time, you are late. Favorite Movie: Jurassic Park  MATTHEW MOORE Client Development Manager, 1 month at Jacobson Hometown: Whitesboro, New York Alma Mater: Hofstra University Describe Your Role: I connect with our clients and take time to focus on understanding their needs. My goal is to be a consultant they can rely on and trust by bringing them the talent they are looking for.   Favorite Thing about Jacobson: I love the way Jacobson presents itself to clients. It's great knowing that I have a very strong brand behind me when I'm doing an introduction with a new client.  Jacobson in Three Words: Intelligent, Motivating, Engaging Favorite Food: Tomato pie from Roma Sausage & Deli Weekend Plans: You can find me playing hockey with friends. Last month was Insurance Careers Month, when insurance professionals and companies come together to share why they love insurance and inspire more people to join the industry. Though February has wrapped up, you can get more insights by viewing our Insurance Careers Month 2020 video series or subscribing to our blog using the form on the right-hand side of this page.

Insurance Labor Study Results: Continued Opportunities for Candidates

We recently completed the Q1 2020 iteration of our Semi-Annual U.S. Insurance Labor Outlook Study, and the results are now available! The study, conducted by The Jacobson Group and Aon plc, collects revenue and hiring projections from carriers across the insurance industry. We’re highlighting some of the latest findings below. Download the full results summary, recorded webinar and slide deck for additional insights and commentary. The January 2020 survey found positive revenue and staffing expectations in the insurance industry, with all segments foreseeing growth this year. Sixty-one percent of organizations polled plan to increase staff in the next 12 months, and 77 percent expect revenue growth. Though these numbers are both relatively flat compared to one year ago, many insurers are actually exceeding anticipated growth. In January 2019, 5 percent of insurers expected a staffing increase of more than 20 percent; in actuality, 7 percent grew their staffs by that amount. Again, 5 percent of companies expect to increase staff by more than 20 percent in the coming year. The latest study revealed technology, underwriting and claims roles to be most in-demand. In the past year, the need for underwriting, actuarial and compliance talent increased. For the first time, the study also surveyed companies’ recruiting plans in terms of employee levels. Overall, insurers are seeking mid-level staff (those with roughly five to 10 years of experience) at a much higher rate than entry-level or management/executive employees. This year, the majority of insurance carriers expect to maintain their use of temporary employees. However, 13 percent plan to employ more interim staff in the coming year. In part, companies may be planning to use temporary personnel to remain productive as they fill more challenging full-time positions. In fact, insurers saw an uptick in recruiting difficulty for all disciplines except claims and sales/marketing. As you explore opportunities within the industry, differentiate yourself from other professionals looking into insurance careers by creating a personal brand that emphasizes human skills; learning how to effectively share stories and connect in networking settings; and subscribing to The Career Catalyst (on the right side of this page) to be the first to read our exclusive insights into career management, professional development and more.

Insurance Labor Study Results: Insurers Remain Optimistic in a Difficult Recruiting Climate

The results from the Q1 2020 iteration of the Semi-Annual U.S. Insurance Labor Outlook Study are now available! Conducted by The Jacobson Group and Aon plc, the study has uncovered the insurance industry’s revenue and hiring trends for 11 years running. We’re highlighting key statistics from the latest results below. You can download the full results summary, recorded webinar and slide deck for additional insights and commentary. January’s survey showed largely positive staffing expectations: 61 percent of respondents plan to increase staff in 2020, down just 1 point from July 2019. Life and health lines and property and casualty (P&C) balanced lines are leading this effort as 71 percent and 67 percent expect staff growth, respectively. Forty-eight percent of companies planning to add staff expect an expansion of business or entry into new markets. In total, only 8 percent of companies anticipate a decrease in staff this year. Expectations to grow revenue remain high across the industry, at 77 percent, decreasing just 2 points from our July survey. Seventeen percent of companies expect revenue to remain flat in 2020, unchanged from our July report. Both P&C and life and health companies responded that expected revenue shifts for 2020 will be driven by changes to market share, at 54 percent and 67 percent, respectively. Across the board, recruitment difficulty is still increasing, fueled by “continued low unemployment, mass retirements and job growth incited by modernization efforts,” according to Gregory P. Jacobson, co-chief executive officer of Jacobson. As in our July 2019 survey, actuarial, technology and executive positions are the most difficult to fill. Nine of the 11 categories measured in the study increased in recruiting difficulty, and accounting surpassed the threshold for moderate difficulty for the first time. A variety of trends will impact the talent landscape in 2020. However, prioritizing succession planning for long-term success; developing a culture of change to support modernization; and engaging with efforts like the Insurance Careers Movement, which shares why young professionals should consider a career in insurance, can help your organization remain competitive. While the insurance industry grew 0.72 percent in 2019, versus an anticipated rate of 1.19 percent, we are seeing continued growth. If the industry stays true to its plans for the next year, employment will again increase. To access the latest growth projection, along with additional insights into the labor outlook for the next year, download the full results of the study.

Q1 2020 Labor Market Study Results Infographic

The results of the first quarter iteration of the 2020 U.S. Insurance Labor Outlook Study are now available. The study, led by The Jacobson Group and Aon, examines insurance industry labor and hiring trends. View this infographic for the highlights.

Goal Setting: Taking a SMART Approach in 2020

As we near the end of February, it’s an ideal time to reflect on your department’s 2020 goals and expectations. Has your team made any progress toward achieving those goals? Are you on track to hit milestones? It is easy for employees to get distracted by smaller, but perhaps more pressing, tasks throughout the workweek. If your longer-term goals have been moved to the back burner, you’re not sure how to measure your team’s progress, or you’re not aligned with enterprise-wide initiatives, it’s time to reevaluate the goals you set at the beginning of the year. By taking a fresh look, you can redefine those goals to make them strategic, SMART and positioned to make a larger overall business impact. It’s likely you’ve encountered SMART goals at some point in your professional career. To review, these are goals created with the following criteria: Specific - Think through who, what, when, where and why as you set your goals. Make them as specific as possible.  Measurable - How will you know when your goal is accomplished? This should be stated in a way you can tangibly measure.  Attainable - Given the timeframe and your resources, is this something you can accomplish? If so, how will you get there?  Relevant - Make sure your goal is a priority and will have an impact once you accomplish it. How will meeting your goal impact you? Your team? Your company? Timely - Have a timeframe for meeting your goals. This may mean breaking a larger goal up into smaller pieces to ensure it remains a priority. The SMART goal framework should be at the foundation of the priorities and activities you set for your department or functional area. By creating SMART goals for your employees, you’ll be able to set your team up for success and generate the greatest impact. With this in mind, also consider the following in your goal-setting process. Larger Business Goals To be most relevant and impactful, your team’s goals and priorities should be working toward larger goals set by the department and company. If you haven’t already, take a look at your organization’s enterprise-wide goals for the year and analyze how those goals cascade down to your department or function. What part of each goal is your team responsible for? Is it a particular percentage of revenue? Helping to get a new product or project off the ground? Determine the role your team plays in meeting overall business goals and build your department goals from that information. Then, define the activities that need to occur in order to move the needle. This could be reducing the time it takes to complete certain tasks, implementing new project management systems or increasing customer satisfaction ratings, to name just a few. Once these goals and activities are clearly defined, consider the contributions each employee will need to make in order to collectively achieve them.  Sense of Employee Ownership Employees should always be advancing the goals of the company. Once your department goals are set, ensure employees also have clear and personalized individual goals for the year. By setting SMART goals for your team members, they will clearly understand expectations and have well-defined paths forward. Explain what the company is trying to achieve, how your team’s goals support those goals, and the pieces each employee is responsible for. Encourage employees to participate in creating their goals; proactively ask for their ideas and feedback, while ensuring the goals are clearly understood and agreed upon. Build excitement by highlighting how employees’ individual contributions support the success of the larger department and company. And, ensure they know their specific roles are a valuable component of the overall organization’s success. Checkpoints and Celebrations  Once you set goals, it’s important to periodically check in on your team’s progress. Afterall, it’s much easier to course correct if there are six months left in the year than just a few weeks. Your checkpoints may be monthly, quarterly or before major milestones. Consider each of the specific goals and how much guidance and support an individual employee may need. At the same time, celebrate reaching major milestones or tracking ahead of your initial projections.   Goals are not meant to be set and forgotten. Clearly define how you expect to grow from the past year and the activities that need to take place to reach your 2020 goals. As a manager, it’s important to understand what the company is aiming to accomplish and your team’s responsibility in meeting those goals. Keep the larger business picture at the forefront as you prioritize projects and ensure all employees are clear on how they can make the greatest organizational impact.

2020 Actuarial Trends

The actuarial field is expected to see a variety of new trends this year. From technology redefining actuarial roles to the tight recruiting climate, the actuarial function must adapt to a changing industry. Learn which upcoming trends will drive the industry forward this year.

2020 Underwriting Trends

The underwriting field is expected to see a variety of new trends in 2020. From technology redefining the role of the underwriter to the tight recruiting climate, the underwriting function must adapt to a changing industry. Learn which upcoming trends will drive the industry forward this year.

How to Write a Resume – An Insurance Careers Month Video Series

This post is part of The Jacobson Group’s Insurance Careers Month 2020 video series. The series features our own Millennial bloggers providing their insider perspectives into why insurance is a great career choice and how to get started in the industry. In this installment, Shelby Kling, senior marketing communications coordinator, shares how to write an effective resume. This video was originally posted on our Jacobson Journal blog in 2018, when Shelby was assisting our executive search practice, and these tips still hold true today. Every February, insurance professionals and companies celebrate Insurance Careers Month with the goal of sharing why they love insurance and inspiring more people to join the industry. Learn more by clicking here. Join the conversation on social media with #ICM2020 and #InsuranceCareersMonth. Check back soon for more videos in the series.

Jacobson Employee Spotlight – Feb. 2020

Every February, insurance professionals and companies celebrate Insurance Careers Month with the goal of sharing why they love insurance and inspiring more people to join the industry. As a proud founding member of the Insurance Careers Movement and partner of #ICM2020, we’re dedicated to our employees and their professional development and growth.  Each month, we highlight a couple of our corporate employees as they share a bit about themselves and their roles. Get to know these individuals below. You can view previous editions of our Employee Spotlight here. WINNIE LI Account Manager, 3 years, 8 months at Jacobson Hometown: Chicago, Illinois Alma Mater: DePaul University Describe Your Role: As an account manager for our contingent workforce solutions team, I strategically engage with our clients and candidates to provide exceptional service throughout each partnership.   Favorite Thing about Jacobson: I always look forward to our annual celebrations. It is great to see everyone and catch up with our remote employees. Jacobson in Three Words: Collaborative, Inclusive, Energetic Surprising Fact about You: I love to cook any and all dishes. Favorite Weekend Plans: I would be at Target telling my fiancé we need one thing and leaving with a full cart of items but not with the one item we needed.  TYLER WILSEY Human Resources Generalist, 5 years at Jacobson Hometown: Niles, Illinois Alma Mater: Columbia College Chicago Describe Your Role: I am involved in various cross-enterprise projects. I onboard our new internal employees, manage internal benefits, and am Jacobson’s corporate trainer and project manager.   Favorite Thing about Jacobson: I love hosting Jacobson’s new hire orientations and being the first friendly face our employees spend time with.  Jacobson in Three Words: Dynamic, Collaborative, Competitive Surprising Fact about You: I love to sing. I met my wife in a choir we were in together. Bucket List Item: I want to travel to Costa Rica to visit Territorio de Zaguates, a cageless dog sanctuary. Learn more about Insurance Careers Month by clicking here. Join the conversation on social media with #ICM2020 and #InsuranceCareersMonth.

Taking Stock of Your Succession Plan in 2020

As we enter a new decade, most professionals are reevaluating their career paths and setting career goals. This may mean taking on continuing education courses, getting in line for a promotion or even evolving their management strategies. However, it is important that leaders also think about the future of their organizations. When is the last time you took a thorough look at your succession plan? Is it up to date? Have your organization’s goals and needs shifted since its initial creation? The industry, as well as its employment landscape, is continuing to evolve. Technology and automation are redefining roles, new roles are being created (such as “head of wearables” or “chief automation officer”), and Baby Boomers are retiring at a steady pace. In fact, CEO turnover is at the highest level in nearly 20 years and the majority of insurers would be unable to replace their CEO in the event of an emergency. In today’s fluid employment market, succession planning is much more involved than in the past and the best future leaders are not always an obvious choice. Organizations must account for a number of factors including new business goals, individuals’ personal aspirations and needs, and flight risks. A well-developed and comprehensive succession plan should look several years into the future and account for any critical roles and skillsets. Recently, our senior vice president of human resources, JoJo Harris, and senior vice president of executive search and corporate strategy, Judy Busby, penned an article on creating comprehensive succession plans that will contribute to long-term organizational success. They expounded on the following areas: Creating both a succession plan and a replacement plan. Planning for future goals and needs. Including your most critical roles in your plan. Involving employees in the process. Continually re-evaluating your needs. To learn more about putting these best practices into action, along with how prioritizing succession planning can help meet your business goals, retain top performers and lay the foundation for ongoing success, read the whitepaper, “Prioritizing Succession Planning for Long-Term Success.”