In Claims, It’s A Candidate’s Market

No longer just a warning for the future, the long-predicted war for talent is here, and it has hit the insurance industry with incredible force. Unfortunately, the market’s return to its pre-recession state and relative stability has left insurers unprepared to face what is undoubtedly the most competitive recruiting environment the industry has ever faced. One key factor driving this competition is the industry’s virtually non-existent unemployment. According to the Bureau of Labor Statistics, the unemployment rate within the insurance industry is at two percent for July 2017. Predictions for the year point to an average hovering between one and three percent, representing a rebound to full employment.