Risk & Insurance, November 17, 2021

Current labor shortages are now impacting almost every sector of the U.S. economy, and commercial insurance is no exception.

But as the race heats up to attract the data analytics talent necessary to work with these technologies, some fear the industry is trading one labor shortage for another. Competition for analytics talent is not limited to the insurance industry. The requirements for such higher-level analytics jobs don’t help.

But other qualities are similar to those insurance companies seek in all their employees.

“Intelligence, strong mathematical modeling analytics skills, modern technology framework experience, and the combination of somebody who’s going to be hard-working and agile,” said Jim Wetekamp, CEO of Riskonnect.

“They’re the same core criteria you’ve been looking for in an employee for all of time, they just probably graduate with a different degree than the ones you traditionally hired, which graduated with degrees in risk management.”

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