Insurance Careers Movement Enters Second Phase of Initiative to Empower Millennials as Future Industry Leaders
DENVER--(BUSINESS WIRE)-- Hamilton Insurance Group, Lloyd’s of London, Marsh & McLennan, MyPath - powered by The Institutes, Valen Analytics, The Jacobson Group, InVEST and PCI, today collectively announced the second phase of the Insurance Careers Movement will begin on April 1, 2016. The cross-industry, multi-phased initiative that kicked off with Insurance Careers Month in February 2016 is designed to raise awareness of career opportunities in the risk management and insurance profession, as well as support efforts to recruit the next generation of industry leaders.
The initiative was developed in response to data that indicates a looming talent crisis in the insurance industry, with 400,000 positions becoming vacant in four years and little interest among the Millennial generation in choosing insurance as a career.
Phase II will focus on mobilizing Millennial employees to become the new face of the insurance industry recruitment process moving forward. From April through August, members of the initiative will empower and facilitate opportunities for their younger industry professionals to share individual stories on the web, through social media and at local events, including job fairs, internships and volunteer programs. The outreach will begin once school resumes in September, with the goal of increasing Millennial involvement in planning for and participating in the second annual Insurance Careers Month in February 2017.
“The best way to create communications that resonate with Millennials is with the involvement of their peers,” said Hamilton Insurance Group Chairman and Chief Executive Officer Brian Duperreault. “Young people already in the industry are here for a reason. They’ve discovered a career that’s stable, rewarding and limitless. They’re having a great time, and feel they’re making a difference providing security and protection - whether it’s personal or commercial, corporate or public sector. And given Millennials’ familiarity with social media, they’re the ambassadors whose authentic testimonials capture what it means to work in insurance and reinsurance.”
Phase I of the Insurance Careers Movement launched in February with Insurance Careers Month, focusing on what became a highly successful awareness campaign to recruit companies, organizations and individuals to spread the message of insurance as a compelling career path. The campaign exceeded initial goals threefold, recruiting more than 600 insurance carriers, agents/brokers, trade associations and industry partners to join the cause. Hundreds of companies, employees and insurance executives took to social media to share their experiences, insights and passion for the industry, leading to 12 million social media impressions in February alone.
“We were delighted to see so many insurance companies and individuals get involved with Insurance Careers Month by pushing content that promotes our industry on a wide range of social media channels. The engagement numbers clearly demonstrate the value of a strong social media presence and what a great venue it is for companies to capture Millennials attention,” says June Holmes, COO and Treasurer at PCI. “Next year we look forward to expanding the role social media will play in getting our message out as we highlight Millennials who are making important contributions within their companies and the industry. Promoting the great careers that are available in insurance is vital for our industry and PCI is pleased to be part of this movement.”
A recent survey issued to Insurance Careers Month participants in the first half of March suggests that the insurance industry has made great initial progress in building a coalition to promote the benefits of insurance careers. 84 percent of participants felt the initiative was effective in raising awareness within the industry, and 91 percent of the participants want to continue the effort.
Additionally, electronic communications were reported to be the tools most often utilized to share content during the month, with “Social Media Guides” (56%), “weekly emails with tips and suggestions” (54%), and the Insurance Careers Month website (54%) topping the list. This was followed closely by “Shareable blogs and content” (44%).
“We are proud that Insurance Careers Month succeeded in bringing the industry together to inspire the next generation of professionals,” said Peter L. Miller, CPCU, president and chief executive officer of The Institutes. “The response to this collaborative event was extremely positive, with a strong vote to continue it next year. Addressing the forecasted talent gap is a long-term process, and I am confident that our ongoing efforts with Insurance Careers Month will grow this momentum, providing greater opportunities to recruit top talent and change the perceptions of the industry.”
An industry call will be held on April 28 at 11:00am Eastern to provide an overview of specific plans for Phase II of the campaign. A recording of the call will be available for those who sign up online.
About Insurance Careers Movement
A collaborative of more than 600 insurance carriers, agents/brokers, trade associations and industry partners launched the Insurance Career Movement, beginning with the first-ever Insurance Careers Month in February 2016. Insurance Careers Movement is a cross-industry, multi-phased initiative designed to raise awareness of the dynamic career opportunities in the risk management and insurance profession and to recruit the next generation of industry leaders.
Hamilton Insurance Group; MyPath, powered by The Institutes; Valen Analytics; The Jacobson Group; InVEST; and PCI have designated each February for a month-long focus on careers in insurance. This year’s observance was the first part of a campaign promoting insurance as “the career trifecta”, a phrase chosen because it encapsulates the three key attributes of a job in insurance: it’s stable, it’s rewarding, and it’s limitless. To learn more and get involved, visit: http://insurancecareertrifecta.org/
