Post has enlisted a managing general agent industry mole to lift the lid on what the sector is really like. Our anonymous commentator asks why the perception of working in the insurance industry is so bad from the outside.
Last month’s torrential rain that saw hundreds of homes and businesses in Yorkshire and the Midlands devastated by flood water served as a stark reminder of the destructive impact that the weather can have. But this can also have a severe impact on sporting, music and other public events, writes Alex Whittaker, senior adjuster at Hyperion Adjusters, part of Questgates.
Exclusive: The Institute and Faculty of Actuaries is considering appealing against a ruling, after an employment tribunal decided it must pay nearly £38,000 to a Zurich employee after it “directly discriminated” against him.
The financial services and insurance sector suffers from a higher median gender pay gap than any other sector of the economy. Prina Mashru, head of human resources at Konsileo, argues that for women in the sector, flexible working arrangements could reduce this gap and ensure the industry retains the right talent.
The personal injury discount rate will be set at minus 0.25% from 5 August providing certainty for insurers and claimants alike, but uncertainty created by the Ministry of Justice review behind the new rate could have left claimants – as well as insurers – worse off.
As insurers innovate, those at the core of insurers’ pricing and underwriting strategies face a growing need to adapt. Post held a roundtable, in association with Sas, to examine what is driving innovation in pricing and what challenges those changes present
The London insurance market is facing a huge skills shortage as insurance firms struggle to compete for talent. While a huge number of baby boomers are retiring from the sector and taking those long-held skills with them, there is also a distinct lack of millennials filling the void from the bottom up writes Cameron Gallagher, strategic client director at Manpower Group.
Insurers are coming under increasing pressure to develop new ways of pricing. But, while data and technology hold the key, insurers face some significant challenges as they move to this brave new world.
Most people in the industry would probably describe themselves as open-minded, abhorring any kind of discrimination and supportive of more diversity in the workplace. The enthusiasm for change from all quarters is testament to that.
Many view apprenticeships as an obstacle to overcome or avoid but Rachael Gillett, chief people officer at BGL Group, reminds the sector that many existing employees started their successful careers this way.