Context
Sophie Ezadkhasty, Senior US Casualty Underwriter at Allied World Assurance Company, offers insight on maintaining equilibrium between office attendance and working from home as we emerge from the pandemic to normal life.
Key points to note
The new hybrid model of working 2 days from home and three in the office is cited as the most favoured in today’s global workforce. As a society more and more we are taking up the chance to work remotely and not make that commute in, although is this conducive for future progression in insurance, especially for new talent?
It is noted that new graduates are more attracted to perks (ability to work digitally), rather than a hefty sign on bonus. Gen Z are more compelled to work for tech firms than financial services and this also encompasses insurance.
However, insurance as we know it is fundamentally founded on relationships. This is at the core of the London insurance market. Lloyd’s after all was founded at a coffee shop where traders would meet face to face. The writer points to key skills learnt when going to Lloyd’s and sitting next to underwriters, listening to them negotiate with brokers. As well as acquiring technical skills, one immerses themselves in the culture of the company. Are we as a workforce losing out by opting for more days at home? Is the new talent falling behind forging new relationships with colleagues and their wider network? Not to mention, learning by osmosis simply by listening. Fundamentally, our industry comes back to those long-standing relationships, whether that be built while meeting for coffee or lunch, or a quick drink after work. It is not virtually the same over Microsoft Teams.
In conclusion, Ezadkhasty notes that; as the talent pool within insurance is increasingly competitive, the mindset of the new generation needs to shift perhaps towards more office attendance. We need to preserve the values that the insurance sector is founded on and the new generation can certainly balance both with technology and more digitalised workstreams whilst maintaining face to face presence.
Next actions
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