During the panel on the skills gap in 21st century insurance Dr Tim Willis (DWP), Mike Thompson (Barclays), Andrew Grill (Practical Futurist), Justin Emrich (London LMG), and Sebastian du Zulueta (LM TOM Innovation Exchange), provided engaging commentary on the inevitability of an ageing workforce; the ways employer practices must adapt to accommodate both the young and old, and how technology is disrupting insurance.
While research shows that employers feel largely positive about older workers, valuing their loyalty, reliability, commitment, and conscientiousness, they’re practices don’t necessarily reflect what they preach with only 17% of workplaces monitoring recruitment by age. As the proportion of older workers in the labour market will only increase tackling unconscious age bias is a must for employers. Both Dr Tim Willis and Mike Thompson demonstrated that age and mental health should present no barriers to achievement.
On the question of skills for 21st century insurance, futurist Andrew Grill, spoke about how whole industries are being disrupted. To overcame the invasion of Insurance tech startups business must get agile, and think about ways the talent they hire can help them innovate, both young and old, those going digital and those born digital, have something to offer.
Justin Emrich spoke about how London is losing its ground as the world premier insurance hub, per the London Matters report. To regain this ground London must lose some of its beloved traditions, cut out “londonisms”, cut out costs and beat the insurance tech startups. Emrich sees change coming from the younger generation, who he hopes will not have to wait until they are 50 to have their voices heard.