Desperate insurance firms ‘stealing each other’s talent’

Insurers with talent are going to be robbed. That’s the harsh reality in the insurance industry today as firms respond to the ever-growing talent crisis. As Alan Jay Kaufman, chairman, CEO, and president of H.W. Kaufman Group, put it: “There’s a talent war. There’s a fight for expertise, and people are comfortable stealing from each other.” Anyone who’s been to a large industry networking event over the past few years can probably testify that the talent acquisition climate is electric. What’s sold as a catch-up with an industry peer over a quick drink quite often turns into an attractive job offer with a competitor. That sort of behavior has “intensified and heated up” over the years, according to Kaufman. “I don’t see this talent climate changing any time soon,” Kaufman told Insurance Business. “Business is good at the moment. There’s plenty of insurance to write because the US economy is strong, but alongside that, there’s a shortage of talent and a shortage of expertise. Companies are desperate and they’re taking talent from others.

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