Despite candidate availability outstripping demand in the insurance industry over the past few years, employers still struggle to hire professionals with strong soft skills.
There is a significant shortage of insurance professionals who, further to their technical skills, experience and qualifications, have the personality, presentation and drive to make a significant impact within their roles. Organisations understand the difference such multi-skilled professionals can make, and consequently have implemented measures to retain them through the downturn.
This has led to a scarcity of actuarial, underwriting, risk, compliance, broking and technical claims talent available. If the extra requirements generated by recent changes in the market are factored in (including the additional manpower required for Solvency II), it becomes clear that insurers have a greater number of roles to fill and only a small pool of qualified, experienced people from which to choose from.
Displaying soft skills
If you’re an insurance job seeker competing for roles against candidates with a similar technical ability, it may be the demonstration of your softer skills that clinches the job offer for you. Although different organisations and roles require different capabilities, there is a tendency in the insurance market for the following to be valued:
Communication skills - Do you have the capacity to really listen to what’s being said and convey what you’re trying to get across?
Simplify technical terms - The ability to express technical concepts in a user-friendly way, especially to a non-insurance audience.
Management skills - Not only the ability or capacity to manage a team as a line manager, but also to manage relationships with individuals and teams in other parts of the business.
Influencing skills - Are you able to negotiate with people and build relationships through positive and open communication?
- Problem solving - Your ability to think laterally and find solutions which address a business issue.
If you’re struggling to hire the right insurance talent, or you’re a professional who’s after a new insurance job where you can really utilise your soft skills, please get in touch with your local team at Michael Page Insurance.