Succession Planning
49 whitepapers and resources
Succession Planning
How to axe insurance’s Old Boys’ Club
This article examines the insurance industry’s efforts to dismantle its Old Boys’ Club culture, highlighting initiatives to promote diversity in recruitment, while exploring the challenges that remain in creating a truly inclusive environment for all professionals.
Aviva research points to “daunting” recruitment landscape for brokers
More brokers are recruiting, vacancies are taking longer to fill, and firms are paying more than expected for new hires. That is the scale of the recruitment challenge for the broking industry according to the latest Aviva Broker Barometer data. Read this article to find out more.
Podcast: How to ensure AI doesn't take your job
In this podcast, Sedgwick's Peter Farrelly, Send Technology's Andy Moss and the Chartered Insurance Institute's Ian Simons discuss how AI could transform insurance jobs, and what skills and knowledge humans will require to make sure that this technology doesn't replace them.
Bridging the insurance talent gap with AI
Today’s insurance industry is thriving with innovative technologies and next-generation products. But a shrinking headcount due to retiring baby boomers and a shortage of younger workers could jeopardise a bright future. This podcast explores how AI can help carriers bridge the insurance talent gap.
Transforming insurance: Strategic budgeting for a digital-first future
The insurance industry is at a pivotal moment where digital transformation is no longer a choice but a necessity. So, how do you decide what to prioritise in next year’s budget to accelerate your journey into a data-driven P&C insurance organisation? Read this content to find out more.
Bridging the gap: Solutions for the subsidence skills crisis
Subsidence claims are indisputably on the rise and this trend is unlikely to go into reverse. This content highlights why the insurance market needs to radically rethink how it approaches this complex area of claims and how the industry can address the subsidence skills crisis.
How to attract fresh talent to the loss adjusting industry
There is an ongoing war for talent in the loss adjusting industry. In this article, Sonya Tolson, chief people officer of McLarens, examines the steps the loss adjusting industry needs to take to have a broader appeal while continuing to attract senior adjusters.
View from the top: Why the London Market must address its talent shortage
With many experienced practitioners heading for retirement, the London Market urgently needs to find ways to attract and retain young talent with a broad base of skills. This article discusses the London Market’s talent issue and the steps it must take to address the gap.
In-depth: Succession planning
This article looks at how insurers can assist intermediaries with recruiting and training potential future leaders, and what the industry is doing to support smaller brokers that are looking to exit and need M&A guidance.
Claims Apprentice 2023: Episode six – The final interviews
With the team tasks completed, it is time for the candidates to come face-to-face with Kennedys’ very own Sir Alan Sugar – Claire Mulligan – and put forward a case as to why they should be crowned the winner of 2023 Claims Apprentice. Watch the season finale to find out who will emerge victorious.
Claims Apprentice 2023: Episode five – Claims inflation podcast part two
Having recorded their vox pops this week, things get real as Teams Aspire and Connect go into the studio to record their broadcasts. Watch this episode as the teams present their podcasts on repair costs and personal injury.
Claims Apprentice 2023: Episode three – Travel claims fact or fiction?
Having navigated the data escape room in the last episode, the latest challenge sees the claims apprentices take part in an insurance-related gameshow. Each team will be given a set of genuine travel claims, and will then have to come up with their own believable – but false – ones too.
Claims Apprentice 2023: Episode two – Data escape room
In the first challenge of the series, Team Aspire and Team Connect are given one hour inside an escape room to solve a series of puzzles with answers that might be found within the confines of the location, or by using publicly available data online.
Claims Apprentice 2023: Episode one – Meet the teams
In the first episode of Claims Apprentice 2023, we meet the talented sextet as they discuss why they decided to take part, what they are looking to get out of the process, and the skills they hope to display that might help them be successful.
Keeping over-50s in the workplace
Alongside the ‘great resignation’, there are also concerns over a ‘brain drain’, with so many people over the age of 50 leaving full-time employment. This article looks at what the insurance sector is doing to keep these people on – and attract some back to the market.
Why selling isn’t the only option for insurance brokers
Many insurance brokers are currently thinking seriously about their broking business and the future. This article considers the options for brokers who want change but don’t wish to offload their business.
Recruitment, the workplace environment and the generational shift
This article sheds light on how the broker space is dealing with hiring and workplace expectations of younger employees following reports of recruitment difficulties and clashes between different generations in the workspace.
Retaining talent in the 'great resignation'
As we begin to move into the post-pandemic future, a shortage of employees has become a pressing concern for the insurance industry. Karen Jackman, director of regional broking at Aviva explains how the talent scarcity equation can be turned around to transform the workforce for the future.
Insurance facing the challenges in building a diverse and inclusive workforce
The insurance industry recognises it has a diversity and inclusivity challenge which it is striving to solve, not least because insurance supports nearly all parts of society. This blog highlights the challenges facing the industry as it strives to build a diverse and inclusive workforce.
Debating chamber: The next generation
Why would someone want to pursue a career in insurance when they could just as easily work in tech, finance, consulting, renewable energy or any other popular sector? This article focuses on how to attract the insurance leaders of the future.
Claims processes: The biggest challenge to talent and changing roles in insurance
For the insurance industry the speed of change is arguably greatest within the claims function. This blog sheds light on what the claims department of the future will look like, how existing roles are changing, and the skills challenges and opportunities within the insurance industry.
Before and after Covid-19: Reimagining work with automation
The old way of working has gone forever, and we are entering a new normal. Based on research produced by Blue Prism in association with CIONET, this report focuses on the contrast between work in the pre and post Covid era and the change imperatives facing the C-suite.
Attracting and retaining talent to overcome the skills gap in insurance
Talent retention and the skills gap have long remained a challenge in the insurance industry. In this video, an expert panel discuss how the insurance industry can become more appealing to talented millennials and the skills which are required for the modern workforce.
Helping 'Generation Y' employees adjust to a new work/life balance and managing a new insurance workforce
In this video, an expert panel discuss how insurers can meet the needs of ‘Generation Y’ employees and reap the benefits of an engaged, healthy and motivated workforce.
Why traditional underwriting is about to be history (and how to be part of the future)
Are insurance companies able to quickly react to the modern world of underwriting? This guide sheds light on why traditional underwriting processing is not meeting the needs of the insured, how underwriting is changing as a discipline and how new technology is driving this evolution.
Redefining diversity to drive growth and shore up organisational resilience in insurance
Now, more than ever, diversity is a recurring theme in our conversations with insurance leaders. This content focuses on why insurance companies first need to redefine diversity before they can meaningfully embed it into their cultures and reap the true benefits.
Attracting the next generation of brokers
Based on input from 250 brokers, Ecclesiastical’s research found that while brokers are keen to hire young talent, most are struggling to recruit those aged 30 and under. This report looks at why young people should enter the market and what can be done to attract the next generation of talent.
Law and disorder: How the legal profession is adapting to the millennial generation
By 2020, millennials will make up more than one-third of the global workforce. This whitepaper sheds light on how law firms can compete for the next generation of talent and how they can attract, motivate and retain this generation of workers.
Insurance jobs - Mixing it up with the millennials
Are you sick of hearing and reading about millennials yet? In this short blog, Insurance Post’s Jonathan Swift sheds light on his interactions with millennials working in insurance and their perceptions of the industry.
Blog: Need a new CEO? You could do worse than look at your claims manager
In January, Rob Townend stepped up from UK claims director of Aviva to become managing director of UK general insurance and, in doing so, wrote the latest chapter in what has been a notable turnaround in terms of equality for claims folk. Download Jonathan Swift’s blog to find out more.
Insurance on purpose: Disrupt to attract next generation industry talent
It’s estimated that 50% of the current insurance workforce will be retired by 2030, with the industry facing fierce competition from other sectors to recruit new talent. This article focuses on how the industry can change the face of insurance to attract the next generation of talent.
Better business: Succession planning - Consider consolidation
In this article, Sam Barrett focuses on how consolidation can provide an elegant solution for brokers wanting a smooth transition when they sell their businesses.
Better business: Succession planning - Find your funds
For anyone investigating the options of buying another business or conducting a management buyout, funding is an important consideration. This article highlights how the source of funding for an acquisition or buyout will dictate what shape any prospective deal can take.
Better business: Succession planning
Insurance Age in association with Aviva is pleased to bring out a series of articles for brokers dedicated to the topic of succession planning. This article highlights why getting the right advice is invaluable for brokers looking to sell their business to ensure they get the best value.
Succession planning management: People business
Insurance Age is pleased to launch a series of articles dedicated to the topic of succession planning in association with Aviva. This article focuses on people business and why keeping clients and staff informed is an important part of any succession plan.
Video: Succession planning - the range of funding options
In this video, Phil Bayles, chief distribution officer, intermediaries, at Aviva highlights the options available to brokers in the market looking for funding and the differing implications of accessing each deal source.
Video: Succession planning - market dynamics
In the final edition of our week long look at succession planning Phil Bayles, chief distribution officer, intermediaries at Aviva highlights how buying activity is moving down the size layers and the opportunities for buyers in the regional market.
Video: Succession planning - criteria for success
In the third part of this succession planning video series, Phil Bayles, chief distribution officer for intermediaries at Aviva looks at where to go for advice. He sets out how individual aspirations and where people are in their life stage will impact each bespoke plan.
Video: Succession planning - people management
Having taken an overview of the market, Aviva’s Phil Bayles looks in detail at how to prepare succession plans that meet the needs of staff and customers. Watch this video to find out more.
Video: Succession planning - the latest wave of consolidation
In this video, Phil Bayles, chief distribution officer, intermediaries at Aviva joins Insurance Age editor Emmanuel Kenning in the studio for part one of a succession planning video series. Bayles shares his thoughts on what has been learned by buyers and sellers in the past waves of consolidation.
In-depth: Succession planning
In this succession planning in-depth, Ida Axling investigates how insurance brokers can get the most out of a management buyout and finds out what type of buyer could be best for your brokerage.
Infographic: Research state of the broker nation - Professionalism and staff
Accompanying part three of Post's state of the broker nation research sponsored by LV=, this infographic sheds light on brokers' views on professionalism, entry routes into the industry, attracting new talent and diversity.
Research state of the broker nation: Professionalism and staff
In the third part of Post’s research sponsored by LV=, brokers share their views on career progression, diversity and succession planning within the industry. Brokers also discuss the value of apprenticeships and achieving chartered status.
Lloyd's and the London Market: Innovation & modernisation
The London Market is keen to encourage innovation, but that will involve overturning tried and tested practices and bringing through the younger generation. Post’s article studies what the future holds for the London Market and overcoming barriers to modernisation.
Lloyd's and the London Market: Deepening the talent pool
The second part of the research asks what diversity means to Lloyd’s and the London Market and how can it attract young talent and people from outside the profession into insurance.
Roundtable: The future of the insurance industry
One of the big challenges the insurance industry faces is adapting to the increasing use of technology. Post recently gathered a group of Chartered Insurance Institute young generation members and asked them to present their ideas of what the customer focused insurer of the future might look like.
Research state of the young insurer nation: Tomorrow's world
In the fourth and final section of this research project, Michèle Bacchus asks young insurer employees how they see the future of insurance and what they feel they can learn from the older generation.
Research state of the young insurer nation: Life inside the industry
In the second part of the research, young employees tell Michèle Bacchus about their lives in the insurance industry and what motivates them.
Research state of the young insurer nation: Joining the industry
For Post’s first research project of 2016, Michèle Bacchus asks 52 young insurer employees why they joined the sector, where they think the industry is heading and whether they want to be a part of its future.