Teaming up with humans and machines
Technology is the core curriculum for modern work — but without the workforce to support these new capabilities, insurers won’t progress on the work ahead. And the requisite new skills won’t be easily acquired; half our respondents expect a significant talent shortage by 2023.
As insurers experience skills shortages, they’ll need to work harder to attract, retain and engage workers. Central to combating this issue is the concept of “upskilling” — instilling in the workforce skills and capabilities that cannot be supplied by even the smartest of machines.
The skills that will be most important to develop — decision making and analytics, according to our respondents — underscore a new era of human and machine teaming (Figure 5). These skills reflect, once again, the challenge and necessity of harnessing data and gaining quick insights at scale.
Decisioning skills move center-stage
Respondents were asked which skills were more important than previously, now and by 2023. (Percent of respondents)
Response base: 285 insurance executives Source: Cognizant Center for the Future of Work Figure 5