What’s Keeping You Up At Night?

“What are the top three business issues that keep you up at night?”

That’s a question I posed to a group of chief claims officers in a recent informal survey. An overwhelming number lose sleep over some element of talent management, whether it is the struggle to fill open positions, employee satisfaction, succession planning, or the impact of technology on roles. The insurance industry is experiencing a bit of a perfect storm—a shrinking talent pool resulting from the seasoned cohort of retiring baby boomers and low insurance industry unemployment rates, compounded by the rising demand from insurers to add staff to meet increased business volume and support evolving areas like data and digital transformation. For anyone hiring or trying to reskill talent for claims positions, it’s a struggle you know all too well.

And it doesn’t appear that it will change soon. What does the future of claims roles look like? I’m a data and analytics junkie, so I believe the future of claims will be rooted in technology. A 2020 report by McKinsey & Company entitled, “Claims 2030: A Talent Strategy for the Future of Insurance Claims,” estimates that more than half of current claims activities could be impacted by automation by 2030. Some roles as we know them today will likely give way to new roles necessary to leverage data, automation, AI, and emerging tech—and they will bring along the need for specialized technical skills, as well as power skills like emotional intelligence to deal empathetically with complex claims. The need for human interaction will still exist. The roles, though, will look different than they do today.

So, how to do we get from here to there? Our feature article this month is dedicated to just that—understanding the current landscape and offering actionable steps to attract new talent, cultivate high-potential employees, and retain rockstars. The landscape of claims roles and how to support the amazing professionals in them is changing, but the good news is that CLM is with you on the journey and ready to help you navigate with expert insights and education. After all, if you don’t like change, you’ll like irrelevance even less.

All the best –

Ronna Ruppelt

CEO

ronna.ruppelt@TheCLM.org

LinkedIn.com/in/ronnaruppelt