Figure 2. Time With Current Employer.
2. Training and Skill Development : Following closely behind were concerns about a balanced work/life dynamic, insufficient underwriting resources and inadequate training. These factors suggest a broader issue of levels of burnout and readiness within the workforce. 3. Interest in Technological Advancements : Sur - prisingly, while the implementation of new tools and technologies topped the list of challenges, it also ranked highest among priorities for im- provement. This dual emphasis suggests a keen awareness of the potential benefits of technol - ogy alongside an acknowledgment of current deficiencies. 4. Proficiency in Advanced Tools : Algorithms and automated rules engines were identified as areas with the lowest proficiency among underwriters. Despite their transformative potential, there appears to be a gap in the skills needed to lever- age these tools effectively, as well as interest in developing them.
We believe talent moving around spreads different experiences and diversity of thought. This move- ment may be partially accountable for the progress our industry is experiencing. This movement has been significantly faster than previous decades when underwriters were prone to longer employer com- mitments. Later in the article, we’ll discuss what’s important for underwriters to stay engaged, where they are looking to develop, and how to keep talent fresh, even with our most experienced underwriters. First, we’re interested in learning about the challenges underwriters are facing and, of these, which they would like leadership to focus on. Survey Insights: Unveiling Challenges and Priori - ties Our recent survey highlights several key insights: 1. Implementation Challenges : The primary hurdle identified by respondents in the past year was the implementation of new tools and technologies. This underscores a struggle to effectively adopt and integrate cutting-edge solutions into existing workflows.
Figure 3. Challenges Facing Underwriting the Last 12 Months.
ON THE RISK vol.40 n.3 (2024)
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