Decoding Four HR Trends That Could Dominate Insurance Industry In 2024

Demand for tech talent could see a further uptick

Even though the current recessionary-like business climate has dampened hiring across many industries and sectors, the demand for tech talent is expected to grow in 2024 and beyond. In the same vein, in order to be able to respond to the changing regulatory and consumer landscape, insurance companies will need to accelerate the adoption of new technologies like Generative Artificial Intelligence (GenAI), Blockchain and many more. This implies hiring talent that is proficient in digital and analytical skills including data scientists, machine learning (ML) & AI engineers, digital marketers and many more with relevant skillsets. In fact, driving digital transformation initiatives that can overhaul existing legacy systems and processes will require organizations to develop a prodigious in-house talent pool. Ultimately, only those that can secure their access to latest information sources, foster greater product innovation and continuously raise customer experience standards will have a higher probability of tasting long-term success. This would mean adopting attractive programs and policies to attract and retain niche talent.

https://bwpeople.businessworld.in/article/Decoding-Four-HR-Trends-That-Could-Dominate-Insurance-Industry-In-2024-/30-01-2024-508102/