Risk Conversation®

Companies across the country are contending with what has been dubbed “the Great Resignation.” In the wake of COVID-19, workers are reflecting on their jobs, and some are making career pivots to align with changing professional goals. As a result, employers across multiple industries are facing a challenging recruitment and retention environment—and insurance agencies are no exception.

While there are many ways for insurance agency leaders to help keep top talent satisfied, actively investing in their employees may help agencies stand out in terms of benefits and workplace culture, in addition to fostering growth. Following are a few ways that insurance agencies can help top performers reach their full potential.

Helping Talent Enhance Subject Matter Expertise

As risks continue to evolve, insurance agents are often a client’s first line of defense. Thus, it’s essential to stay one step ahead—with a deep understanding of clients’ and prospects’ industries, as well as how insurance coverage solutions are adapting to meet emerging needs.

Insurance agencies should look to collaborate with insurance carriers that can help producers do just that. Some carriers offer robust educational programs—both at the national level, as well as in certain regions—that offer workshops on key verticals and insurance products. For example, if agents in the Midwest are looking to deepen their knowledge of top exposures in the advanced manufacturing, life sciences or technology industries, or are seeking to better understand the nuances of Directors and Officers (D&O) risk, programs such as the Chubb Academy for Midwest Producers (CAMP) can provide insights needed to succeed.

Through deep dives on these and other timely topics, programs like CAMP can help producers increase the value they are able to deliver to clients and prospects—elevating beyond the transactional component of purchasing insurance to form collaborative and lasting relationships.

Facilitating Opportunities to Bolster Soft Skills

In addition to enabling top producers to deepen their client industry and insurance product knowledge, educational programs can also help expand some of the softer skills in their toolkit.

Whether producers are looking to cultivate trust through actions that demonstrate integrity or improve their virtual communication skills—from planning head and playing to their strengths in remote meetings to understanding which digital platforms work best for them and their clients—continuing educational programs can help producers further their professional development.

This is especially important for those who have been or are continuing to work in a remote or hybrid environment. Without the ability to learn by observing others in person, some producers may find it more difficult to interact in a meaningful and productive way.

Investing in Top Talent

As employees reevaluate their careers and what they’re looking for from employers, insurance agency leaders have the opportunity to help top talent continue—if not accelerate—their professional development. Carrier-driven educational programs may even match participating producers with in-house mentors who can offer additional insight into the topics covered, helping producers forge carrier connections—as well as bolster client relationships—that serve them for years to come.

In an increasingly competitive employment landscape, it’s critical for agency leaders to boost producer morale and growth. By partnering with a carrier who can help producers succeed, agency leaders can help shape the future of their agency—and the insurance industry—attracting and retaining top talent for the long-term.

Faye Callahan is Vice President, Midwest Regional Marketing Manager at Chubb.