Perception vs reality: Redefining careers in Insurance 


Recruitment and retention is a perennial and growing concern among insurers; speaking at ILC’s New Generation Event, Catherine Carey, Head of Marketing at Consumer Intelligence, highlighted the wide divide between the perception and reality of a career in the industry. 

In her session, Perception versus reality: redefining careers in insurance, Catherine revealed results of research carried out in partnership with the British Insurers Brokers Association (BIBA) that highlighted just how great the chasm is between those who work in the sector and those on the outside. 

She said, “Almost everyone working in the industry fell into their careers. We have a problem attracting new talent and to change that we need to change the narrative. But the first step is understanding what the perceived barriers are.” 

She pointed to results of a survey of 314 people aged between 18 and 25, 12% of whom work in the industry, conducted by Consumer Intelligence and BIBA. 

It found that of those not working in insurance, 36% said they had considered it as a potential career but 39% of that number viewed the sector as dull, boring and old-fashioned and therefore not a good fit for them. Meanwhile, a quarter admitted they did not know enough about insurance to form an opinion – partly due to the fact that many young people have never taken out policies and have no first-hand experience. 

More worryingly, driven perhaps by negative media coverage, 17% said they did not trust insurers to do the right thing for their customers. 

However, these figures were in stark contrast to the reality experienced by those who are already working for insurers – 69% of whom said they were fulfilled and would remain in the sector, with 59% pointing to the substantial opportunities for career development as a key factor. 

Catherine added that for many young people, financial rewards were not a priority, with job security and flexible working often cited as more important considerations. 

She said, “Insurance can offer that, but maybe we don’t promote that enough.” 

ILC’s New Generation event was held at etc.venues, Manchester, backed by lead Sponsors Carpenters Group and Enterprise along with Ambassadors: Activate Group, Edam Group, Gemini ARC, Kennedys, S&G Response and Solera Audatex.  

EVENTS

Upcoming Event


Insurer Partners

AGEAS
INSURE THE BOX

Industry Body Partners

Insights Partners