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Where has all the talent gone?

25th November 2019

Contrary to the opinion held by some, the demand for change talent in the London Market is vast. 2019 has seen various ups and down; Syndicate’s scrutinising expense ratios, Brexit uncertainty, sizeable losses and the term that fills so many with dread, IR35 (just to name a few). Even taking these factors, it has still not changed the need for businesses to evolve and deliver transformation projects.

With this said, the change that underwriters and brokers are going through is unchartered territory for most. No longer just M&A (although current integrations are on a scale not seen for some time) or regulatory change. Businesses are finding the need to automate, build or implement electronic trading solutions or integrate data in to everyday business decisions. To do this, we can no longer rely only on the tech stacks previously used by insurance or deliver in a waterfall environment, Agile and DevOps teams are appearing across the market and delivering success.

To service these requirements and hire the talent needed, the industry must look to shores that it previously ignored or held with some contempt, other industries. Logistics, retail and Central Government have delivered change on a scale similar and often bigger to that of the London Market and have reported success.

In the past year Arthur have successfully completed mandates with a number of brokers and carriers introducing out of industry talent. These individuals have been found in logistics, digital advertising and automotive. I am told that the impact they are having is exceptional, bringing new ideas and also challenging the insurance norm but asking; why have you done that for the past 20 years?

For the London Market to succeed on its current conquest to be at the forefront of the global insurance market it must continue to build customer centric and data driven technology. To do this, it must also continue to hire talent that it previously would have over looked.

Arthur Financial are a specialist recruitment company providing talent consulting and solution services across the Insurance industry. If you would like to find out how we could help you or discuss the topic above, please get in contact via jds@arthur.co.uk

 

By Jon Sharpe

 

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