One aspect of the insurance industry that I believe is undersold in the recruiting process is the opportunity to rebuild broken lives. On several occasions in recent months, I have written in this forum about the opportunities for a good and stable career in the insurance industry. But it’s more than just a stable industry with appealing compensation and growing opportunities. Much more.
When you boil it all down to the basic mission of the insurance industry, it’s all about rebuilding lives that have been disrupted if not turned upside down by an unfortunate event. It could be as minor as a fender-bender auto accident or as major as the destruction of a home by fire or storm. Everything we do in the insurance industry comes down to the moment that we help the customer to recover from the fender-bender or rebuild the family home. We sell the policies with an eye toward covering these loss exposures, we underwrite to offer the coverage that is proper and fair and responsibly priced, we loss control risks to prevent as many losses as possible, we analyze the data to develop proper coverages and rates, and we settle the loss to put the customer’s life back together. What an awesome mission and privilege.
I have to credit Auto-Owners Insurance Company Chairman and CEO Jeff Harrold who did express this appealing mission to the attendees of his company’s recent career day event which I wrote about here. Much has been written (here and elsewhere) about the “graying” of the insurance industry with reports that perhaps 25% of the current insurance workforce will retire in the next 4-6 years. That fact adds some urgency to industry appeals for young talented people to consider an insurance career. But Millenials want more than a good job. They want a meaningful job, and so part of the industry’s appeal for young talent must emphasize the noble mission of rebuilding broken lives. What an incredible opportunity… make a good living, working in a stable industry with significant advancement opportunities, while helping your customers through perhaps the toughest days of their lives. Sign me up.