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In a volatile world, businesses need insurance now more than ever – is your team ready for a surge in demand?

In a volatile world, businesses need insurance now more than ever – is your team ready for a surge in demand?

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​As the current climate grows increasingly volatile, demand for insurance grows to unprecedented heights.

Are you bracing yourself for the increased demands arising from claims events, market changes or regulatory changes? Despite technology improving, the demands of your staff will continue to increase over the coming year – do you have the ability to scale your team fast enough?

 

What does the right team look like under these circumstances?

Every business operates differently and has unique requirements, so each team will look a little different, however, they will all have one thing in common; agility - the ability to handle rapidly changing circumstances at any given moment.

How do you create the right team for your business?

1. A great team starts with structure. Does your team have balance and appropriately distributed responsibility? When distributing responsibility consider having hybrid supervisors who can take on leadership responsibility when needed, but also have their own day-to-day tasks so you maintain the right number of managerial positions in a team – whether it expands drastically or shrinks. Hybrid roles like this allow for greater agility.

2. It is no secret that you need a digital/tech expert on your team. Consider looking at graduates as they are digital natives. They are also more innovative, adaptable, and will likely be passionate about digital experience – plus, they are more affordable than a typical ‘expert’.

3. Put experience aside and value communication as a key factor in a high-functioning team. With any new potential team member, it is crucial to analyse their communication style pre-hire and the compatibility of this with the rest of the team.

4. Align values – and ensure that aligning values are highly regarded alongside experience and communication style; consider hiring with emphasis on values and culture fit in the team.

5. Agility means having a small team with end-to-end responsibility.

6. Assign all juniors/graduates with a mentor, not just a manager – this gives someone in the team a great opportunity to practice their managerial style, as well as fostering great colleague relationships that will assist in the overall team dynamic. Remember, happier employees are more productive and loyal!

7. Have customer centric employees on your team, dedicated to customer service with a passion for servicing their community – this is where testing for empathy levels in psychometric testing comes greatly in handy!

If you are looking to add capability and/or capacity to your team, get in touch with one of the insurance recruitment experts at Fuse Recruitment here or submit your position below!