When your clients are looking to fill open job opportunities, it’s up to you to recommend the best candidate matches. In the insurance industry, trends are changing to keep pace with continually evolving technology, and staying on top of these trends can help you understand what qualifications are required to place your clients with the best the industry has to offer. You’ll be able to make solid job matches and keep clients coming back to you.
Insurance industry trends for 2020
As we usher in a new year, the insurance industry is bustling with new developments. The following are on top of the list for 2020:
- New reasons to insure cars. People are using their cars in different ways, and these are new opportunities for insurance. Ridesharing (like Uber and Lyft) is gaining popularity, and more people are opting for this as an alternative source of income. Self-driving cars are also a new development, and as manufacturers iron out the bugs, they carry an increased need for insurance coverage.
- Machine learning and automation. Artificial intelligence helps enable new processes that make it easier to process data, check for compliance, and perform many other functions related to the insurance industry. Though this automation will take some jobs, it will enable other positions as candidates to learn how to harness new technology.
- Use of technology like Blockchain. Data sharing technology makes it simpler and more efficient to perform tasks related to the insurance industry. Systems like Blockchain are best utilized by candidates familiar with how they work, so they can maximize these resources to optimize their use.
- Customization. A popular trend across many industries is the concept of personalized user experience—and the insurance industry is no exception. Customers want plans that fit the needs of their unique population, and this is best achieved through data analysis and familiarity with products and services. The ability to enable customized plans is a qualification many insurance professionals will need, now and into the future.
The future is now
As technology races forward, the insurance industry will become more and more competitive in search of candidates with the right qualifications. You can stay on top of clients’ needs by keeping track of trends year after year.
Maximize your earning potential
The National Insurance Recruiters Association (NIRA) is an organization made of recruiters for recruiters. With access to the NIRA online resources, you can get help keeping up with industry developments, plus increase your job matches and earning potential. To learn more about membership, visit us online or contact us today!
