Rebrand insurance to regenerate the industry

Insurance, we have a talent problem

Insurance is up against it. Its workforce is ageing, fast. At the same time, there’s a global talent shortage. And young people don’t find the industry appealing.

But they should. Because, after getting face-to-face with university students, and surveying 1,017 people aged 16 to 24 from the UK and US, they told us what their top three career aspirations are – three things we know the insurance industry can deliver on.

Download your copy of the Re:generation Report here.

To plug the talent gap, we need to bridge the perception gap

Insurance businesses need to tell a new story. An authentic one that speaks to young people. We believe that involves:

1.	Redefining or giving new meaning and impetus to your values, mission and vision.
	Because 79% want to do work that serves a greater purpose.
	But only 34% feel insurance could provide it.
2.	Making the depth and breadth of skills in the industry clear to see.
	Because 87% want personal career balance and growth
	But only 46% think they can get it from insurance.
3.	Sharing the experiences of people who have a great life in insurance.
	Because 71% want to work in a fun, social environment.
	But just 30% say that sounds like insurance.

The majority of young people told us that a career in insurance just feels like a bit of a mystery. Hardly surprising then that every other industry comes in ahead of insurance when ranked by careers that interested them.

For insurance to attract the next gen away from the more popular career choices, a step-change in approach is needed. The approach we recommend can be taken at a business level, and also at an industry level. We’re at the start of a journey to transform the image of insurance, but we need to step up the pace. Those that do will open up a significant competitive advantage. Those that don’t will lag behind on growth, innovation and DE&I.

See the report in full

Get a closer look into the data and trends to come from our survey. And our recommendations to help insurance rebrand and regenerate. Download the report here.