Keeping expertise within the trade

Keeping talent in the industry

The previous few years have seen unprecedented change throughout many industries, together with insurance coverage. The Worldwide Broker Network (WBN), the world’s largest impartial dealer community, works to remain abreast of these modifications for its members throughout greater than 100 international locations.

Olga Collins (pictured above), CEO of WBN, not too long ago chatted with IB Talk in regards to the challenges dealing with brokers all over the world. In explicit, Collins spoke in regards to the challenges of recruiting and retaining proficient insurance coverage professionals.

“I think our issues or problems are not really unique to insurance only, especially over the last few years,” Collins mentioned. “We face similar issues as far as talent retention, as people call [a] ‘war on talent.’ At WBN, we’ve created a leadership-focused program for our rising leaders. We call it Young Professionals Academy, and it’s catered to our members so they can use this tool as a recruitment retention item, for example.”

Read subsequent: WBN declares 4 new members, three board appointments

Collins mentioned that whereas the insurance coverage area’s knack for expertise retention was bettering, there was nonetheless progress to be made.

“I think the insurance or the risk management world has come a long way when it comes to educating and keeping talent within,” she mentioned. “I believe we are able to nonetheless do a greater job advocating for … a significant or a observe for threat administration to be a extra frequent [university] class route or a significant route, as a result of not many universities in numerous international locations present that as a studying path.

“So I think we have some more gains to be had – but overall, I think we do a really good job attracting folks. … The insurance world is a people world – it’s all about relationships. There’s a little bit of fun to be had here as well. So we want to make sure we portray that to college graduates accordingly.”

Listen now: Worldwide Broker Network CEO lifts lid on expertise crunch and fee points