Developing Tech Talent within the Insurance Industry
If you’re a leader in the insurance industry, chances are you need specialized software professionals. That’s because innovative technologies like big data, blockchain, and autonomous vehicles—to name a few—have disrupted the traditional approach to insurance.
The emerging roles you may need to fill include software engineer, developer, full-stack engineer, privacy experts, cyber investigators, actuaries, mobile experts, legal experts, sharing specialists, and more. However, given the current science, technology, engineering, and mathematics talent shortage (with 3 million more STEM jobs available than STEM workers), it’s proving difficult across industries to find the professionals you need.
What’s the solution? Many companies are looking internally to engage, develop, and train talent from a previously untapped source—their current workforce.
Instead of competing with other companies also looking for the limited number of qualified professionals, insurance companies are leveraging the expertise of existing team members by reskilling them via software bootcamps.
Reskilling employees will help your organization meet the business demands of today while simultaneously preparing your team for tomorrow.
Why You May Need to Reskill
Maybe you need more developers, or you’ve recently adopted Agile software development methods. Either way, you likely have a growing need for team members with IT skills if you want to move your company forward.
Reskilling also means keeping industry expertise in-house. You don’t have to lay off people who’ve served your organization for decades; instead, preserve their knowledge of your organization and the insurance industry while equipping them with technical skills to become relevant contributors in today’s market.
Plus, layoffs can be incredibly costly to your company:
- Each laid-off employee can cost a firm 50% of the person’s compensation and benefits for each week that the position is vacant, even if others perform those duties.
- If the position stays unfilled, it costs the firm 100%.
You can learn more about the losses your business will incur from layoffs here.
What to Look for in a Training Partner
If you decide that reskilling is the right move for you, it’s important to partner with the right training company.
The right partner will:
- Have a proven track record of positive results
- Be committed to academic excellence and student success
- Be willing to adapt to your organization’s requirements
- Create a custom curriculum just for you
- Provide individual academic support for students
Ultimately, your partner will provide you with knowledgeable software developers while simultaneously offering those team members the opportunity for growth in their careers.
Training with The Software Guild
We’re dedicated to ensuring your employees have the technical skills to take on the future. In our bootcamps, your team members will learn hard skills like:
- Tech skills (e.g. Java, .NET/C#, Python)
- Proficiency in Agile software development
As well as soft skills, including:
- Effective communication
- Logical problem solving
- Collaboration with a variety of individuals
- Accommodating changing employer requirements
Not only will your reskilled employees be more productive and effective at work, they’ll be able to merge technical and business knowledge while increasing their contributions to overall company goals.Ready to get started? Contact us.