This article was produced in partnership with Intact Insurance.
Desmond Devoy, of Insurance Business Canada, sat down with Debbie Coull-Cicchini, executive vice president, Intact Insurance, to talk about how the industry can position itself as a beacon for new talent in a changing market.
To find and keep top talent, the insurance industry needs to change its story.
“Brokers and insurers alike are facing a talent crunch,” said Debbie Coull-Cicchini (pictured), executive vice president, Intact Insurance. “To attract both emerging and experienced talent, we need to show job-seekers exactly what it is that’s waiting for them here.”
Coull-Cicchini, who oversees Intact’s operations in Ontario, Atlantic and Western Canada, knows first-hand how surprised outsiders are by the depth and complexity of the industry. When she made the switch from financial services to insurance in 2005, she explained, “I was attracted by the company’s brand and the breadth of opportunity the industry offered, but I had no idea just how fascinating this business was.”
She discovered a fast-paced, innovative, and collaborative industry that delivers “diverse experiences, the ability to learn on the job, and virtually limitless opportunities for advancement.”
It’s time to bring this insurance story to fore. “Insurance is a hidden gem and we need to stop hiding it,” Coull-Cicchini said. “We need to showcase how exciting the insurance industry really is and the abundance of opportunities it offers, both to new talent looking for a challenging, relevant path and to seasoned talent in search of a fulfilling lateral move.”
A key appeal of the insurance industry, according to Coull-Cicchini, is that it needs people from all walks of life, from diverse backgrounds, and with even more diverse skill sets.
“We need actuaries, underwriters, and salespeople, and we also need data scientists, AI experts, programmers, medical experts, designers, communicators, and skilled leaders who inspire their teams,” she said. “The common thread these people share? A desire to make a difference. They are motivated problem solvers who want to use their skills and talents to help people – that’s who thrives in our industry.”
To attract this talent, Coull-Cicchini said, the industry needs to make it clear that it offers people “the chance to do meaningful work, every day.”
“Our industry is all about helping people,” she explained. “We’re there in good times, when people are starting a new business or buying a new home, to protect their investment. And in bad times, we are there, on the ground, making sure people are safe and have what they need to get them back on track.”
The complexity of the industry and its diverse needs mean its recruitment approach must be broad and inclusive.
“We can’t neglect any potential talent pipeline,” Coull-Cicchini said. “We need to recruit not just from the top schools, but all the schools – and even outside schools, and outside of the experience you’d traditionally think a ‘good fit’ for insurance. And we need to tell our story in such a way that the people who don’t see themselves as working in insurance suddenly think – ‘Actually, I could see myself here, I could be a great broker. I could be a successful underwriter.’”
Another message the industry needs to get out there is how much it values and offers opportunity to out-of-the-box thinkers.
Coull-Cicchini herself was recruited from outside insurance to bring a fresh perspective and new way of thinking to Intact. “As our industry continues to grow and change, to integrate technology and transform how people interact with their insurance, we need creative thinkers who challenge us and push us to be better and better,” she said.
The industry also needs to showcase how invested it is in moving the needle on big picture issues, such as climate change. “No one knows the impacts of climate change better than the insurance industry,” Coull-Cicchini said. “Brokers and adjusters can be first respondents when extreme weather events hit. They take those hard phone calls. They see the impact first-hand.”
In their roles, she explained, they can help in a real way, both in the moment and by helping their industry shape the climate change conversation and work towards sustainable action plans and solutions.
An active “ambassador” for insurance, Coull-Cicchini firmly believes this is how the industry needs to position itself to talent – as a challenging, creative space in which talented caring people can make a difference in their community.
“I love the challenge and opportunity of the industry,” she said. “I love the creativity of finding the right solutions. And most of all, I love the promise of it – that by working together, we have a meaningful impact on people’s lives.”
Intact Insurance is Canada’s largest home, auto and business insurance company, the choice of more than four million customers coast to coast. Intact Insurance is a member company of Intact Financial Corporation (TSX: IFC), the largest provider of property and casualty insurance in Canada, a leading provider of global specialty insurance, and, with RSA, a leader in the U.K. and Ireland.
