Jeff Rieder, Partner, Head of Ward Group
Since 2005, Jeff Rieder has served as Head of Ward Group, a part of Aon focused on insurance performance and rewards practices. He has significant experience in the industry with expertise in the property-casualty and life, health, and annuity segments.
We sat down with Jeff recently to discuss the latest talent trends in the insurance industry:
What is the top recruitment method for attracting millennial talent in the insurance industry?
To be honest, most insurers have struggled to attract millennial talent, in part due to the perceptions millennials have of the industry. Companies successful in attracting millennials have invested in recruiting programs focused on a young, inexperienced employee, such as internships and 3 to 6 month onboarding sessions. They realize that they must invest in the individual to help them learn the industry and succeed in their career.
What new roles are emerging as a result of digitization?
Several roles for website development and mobile application development have emerged to build the digital program. Consequently, we have also seen a growth in customer-centric roles to help companies evaluate the overall digital experience for the customer, while also maintaining well-thought strategies in their approach to the digital consumer.
What is a major industry challenge that insurance companies are currently facing?
Succession planning is rising as a major issue, with the average age of employees being around 46 within insurance companies. It is not unusual for insurers to have over 40% of their workforce eligible for retirement.
If you could describe today’s insurance industry in three words, what would they be?
Secure, Protective, Exciting
How does the future of insurance firms look as we head into 2018?
While the future looks positive for both property-casualty and life insurance companies, it will be very important for organizations to make sure they have the right type of talent to support emerging consumer and economic dynamics that affect their business. It is clear that the top performers will have integrated human capital, customer experience, and technology strategies to lead them as their business continues to evolve.
If you are interested in connecting with Jeff, he can be reached at firstname.lastname@example.org.