Infographic: Insurance Industry Talent Management in the Digital Age - Towers Watson
Big data and digital media
demand different competencies,
but both will require:
• A genuine strategic commitment
on the part of the organization
• An agile entrepreneurial culture
— a willingness to experiment and
Big Data/Predictive Analytics
•• Insurers must get better at capturing and
exploiting proprietary data.
•• A talent paradigm of “data scientists” must
combine business savvy with fluency in
statistics and new technology.
•• Success requires the latest technological
ecosystem and highly capable data
•• A new approach to sales begins with a
revolutionized and influential marketing team.
•• A single-customer view must drive a seamless
and consistent customer interaction.
•• Strong technology capability should be
combined with a strong social media presence.
The winners of tomorrow
will develop highly nuanced
employee value propositions
(EVPs) that strike the right
balance between employee
preferences and employer needs.
These EVPs will be differentiated by
the talent pools that will be most
critical to powering the business
model of the future.
New Talent for the Digital Age
Will Insurers Be Ready?
The issue: Big data and digital media have the potential to
transform the way insurers understand and compete for customers,
and market themselves — especially to a new generation of buyers.
But to succeed in both of these realms, insurers need to rethink the
way they hire and retain talent.
Research by Towers Watson and Oxford Economics shows that
technology — digital media in particular — will have the largest
impact on insurers’ talent requirements.
Insurers that are slow to
face the disruptive impact
of new technology are
creating a huge opportunity
for new, technologically
Dr. Qixiang Sun
Dean, School of Economics
Is the insurance industry prepared for this major shift?
The insurance industry
culture is often reluctant
to embrace change.
recruiting and retention
efforts that focus on
actuarial and related
talent aren’t appropriate
for big data and digital
In the face of
the industry must be
prepared to find, keep
and engage a different
kind of talent.
For many companies,
the challenge is not just
finding the right talent;
it’s also retaining the
Talent Management Consultant
Research raises questions:
Over the next five to 10 years, how confident are you that
your company will have the talent base it needs to ensure
As insurers embrace more sophisticated technology and
social media, how will talent needs change?
Other than hiring full-time employees, how can insurers
resource talent for big data and digital work?
Is the insurance industry as a whole too averse to change?