As the (re)insurance conference season gets into full swing, one note seems to carry through all of the conversations we are having: talent and training.
It’s no secret that the industry is not the most attractive one to outsiders, and for many who are in the industry today, it was not their first choice of career. But once in it, they find it hard to leave, calling it a transformative and impactful industry to work for.
When most people think of insurance, they envision mundane paperwork, complex regulations, and endless claims processing. This perception, while partially rooted in reality, fails to capture the dynamic nature of modern insurance and reinsurance. The industry’s public face often emphasises stability and tradition—qualities that, while valuable, don’t necessarily excite young professionals seeking purpose-driven careers.
Yet beneath this conventional exterior lies an industry at the forefront of some of the world’s most pressing challenges. From climate change adaptation to cyber security, from emerging market development to pandemic preparedness, insurance professionals are quietly shaping solutions that protect communities, enable economic growth, and provide security for billions of people worldwide.
The statistics tell an interesting story: while the industry struggles to attract new talent, retention rates among experienced professionals remain remarkably high. This apparent contradiction reveals something crucial about the insurance sector’s hidden appeal. Those who stay often cite the intellectual complexity of the work, the global nature of the business, and the tangible impact of their decisions on real-world outcomes.
Today’s insurance professionals are far from the stereotypical image of actuaries hunched over calculators. Modern insurance requires expertise in data science, climate modelling, behavioural economics, geopolitics, and emerging technologies. The industry has become a sophisticated blend of analytical rigour and strategic thinking, attracting professionals who thrive on solving complex, multifaceted problems.
The rise of InsurTech has further transformed the landscape, bringing Silicon Valley-style innovation to traditional insurance operations. This evolution has created new career paths that blend technology expertise with insurance knowledge, appealing to professionals who want to drive digital transformation in a sector ripe for modernisation.
The industry has also invested a great amount into education and training, with various entities providing services for the insurance professional to become more capable, more complete, more adaptable to the ever-changing landscape of risk and insurance.
The insurance industry may never be the most glamorous career choice, but for those who discover its hidden depths, it offers something increasingly rare in today’s economy: the opportunity to build a meaningful career while making a genuine difference in the world. The challenge now is ensuring that this message reaches the next generation of potential insurance professionals before they’ve already chosen their path elsewhere. M
Ahmad Zaki
Editorial director
Middle East Insurance Review