The Insurer of the Future—Part 9—Human Capital

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The insurer of the future will have far fewer employees per million of premium than its predecessors—and they will be a different type of employee, with better support.

As we’ve seen in previous parts, the Insurer of the Future will have far fewer employees in Pricing and Underwriting, and Claims, in Product Development, and throughout the Back Office.

Overall, therefore, the Insurer of the Future will have far fewer employees per million of premium than its predecessors. Many tasks previously performed by humans will now be delivered by software.

But that means that the remaining humans, fulfilling key strategic and risk management roles, are far more important than they were.

They will have to be the very best professionals available. Their recruitment, training, development, and motivation will have to be top notch.

They’ll need the very best of support to help them be successful.

They’ll have self help tools at their fingertips, expert systems support, world class knowledge management capabilities and collaboration tools to ensure they can deliver to their full potential.

They’ll be part of a culture that is dynamic and exciting, in an environment of constant change—and they will relish every minute of it.

Chances are that, on average, they’ll also be significantly better paid.

Please see Part 10—Agent and Brokers for further predictions.

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