How Insurance Companies Can Overcome Difficulty Attracting IT Talent

October 11, 2017 | Post by Tim Fisher | 0 Comments

The insurance industry is facing difficulty bringing the best IT talent on board

In the current landscape, some of the most important processes hinge upon the use of technically advanced systems. This makes the employees that support and maintain these applications and platforms particularly critical. What happens when an insurance company doesn’t have the IT talent required to keep its most essential IT solutions up and running? How can it ensure the business has the support it needs for its current and future technological initiatives? 

A shortage of available talent 

According to recent statistics, businesses across nearly every industry are facing difficulty bringing the best IT talent on board: 

  • Code.org forecasted that by 2020, there will be 1 million open computing jobs without available applicants to fill them. 
  • An annual survey from IT outsourcer Harvey Nash and auditing firm KPMG found that 65 percent of tech leaders believe hiring challenges are having a negative impact on the entire tech industry. 

While an obstacle in any sector, finding and attracting the right IT talent is particularly crucial for insurance organizations. Now that insurance companies have an increasing number of IT priorities - including digital engagement, data analytics, the internet of things and automation to streamline customer-facing processes - a lack of knowledgeable IT staff could cause organizations to fall behind. 

“CIOs may have great ideas but if you can’t get the IT talent, that’s a growing problem,” said Bob Miano, president and CIO for Harvey Nash. 

Ensure the right support with outsourcing IT solutions

Despite the talent shortage, insurance companies must make sure they have the right support in place for current IT initiatives, and help position the organization to take advantage of emerging tech strategies. Outsourcing IT solutions can provide the ideal solution, and provide key benefits: 

  • Filling critical positions first: Some insurance companies may find themselves in a situation where multiple IT roles are empty, which can be particularly overwhelming in terms of recruitment and hiring. Leaning on outsourced IT can help ensure that the most vital roles filled, helping to ensure that the company doesn’t operate with critical gaps that could impact overall productivity. 
  • Expanding existing talent: Insurance companies can expand the talent of their IT teams with outsourced talent. Processes like asset management and servicing existing IT systems can be outsourced to an experienced  provider. In this way, the internal team can maintain a focus on their most critical IT functions - including the use of emerging technological strategies - while outsourced experts can take care of processes like the service desk
  • Focusing on mission-critical initiatives: An outsourced expert can bring considerable peace of mind for IT leaders and executives, ensuring that the most important solutions are in the hands of trained experts. In this way, internal staff can focus on other pressing projects and business goals. 
  • Ensuring scalable support: As an organization grows, its IT support must grow with it. A knowledgeable outsourced provider can help companies make important decisions about when it’s time to scale, ensuring that the business always has the resources it needs without overpaying.  

It can be incredibly helpful to utilize a service like eXcell, which matches the best candidates with companies in need of expert talent. With more than two decades of experience, eXcell can provide access to temporary-to-hire and even direct placement services for organizations of all sizes. 

To find out more about how you can ensure your insurance company has the right IT support, contact CompuCom today. 

The content and opinions posted on this blog and any corresponding comments are the personal opinions of the original authors, not those of CompuCom.

  • Tim Fisher's picture

    Tim Fisher

    Tim Fisher is responsible for CompuCom’s Banking, Financial Services and Insurance vertical strategy & business development activities.  Tim joined CompuCom in 2007 and has over 25 years of information technology experience serving the financial services industry. 
     
    Prior to joining CompuCom Tim held various sales and sales leadership roles with CSC and IBM. Tim began his career in the insurance industry holding positions in marketing, product development, and pension sales.  Tim is a graduate of the University of Wisconsin Eau Claire.

     

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