With a shortage of insurance professionals, there is a focus to attract and retain new and tenured employees. Every day, nearly 10,000 baby boomers retire in the United States. Of those retiring, 25% are expected to be insurance professionals. To add to this workforce challenge, just 4% of millenials expressed a desire to work in the insurance sector.

With this talent exodus in progress, reskilling is a critical strategy to protect insurance organizations. Replacing an employee can cost more than 100 percent of the role’s annual salary, while successful reskilling can cost less than 10 percent of a role’s salary. Tomorrow’s insurance professionals will perform what the industry is calling ‘super jobs’ of the future.

At Talespin, we view immersive technology as the solution that will help insurers embrace these changes and transform their workforce practices to deliver the best possible customer and employee experiences. We’ve spent the past 5 years working with leading insurers and SMEs to develop XR (virtual, augmented, and mixed reality) workforce solutions specifically designed for insurers.