The Talent Shortage in the Insurance Industry

I often hear stories from colleagues about nightmarish experiences with inexperienced insurance adjusters. Often, frustrated healthcare providers refer to inexperienced insurance professionals as “baby adjusters.” Sadly, these words convey the reality of the insurance industry. The insurance industry is grappling with a shortage of talent. Many experienced adjusters are retiring with no one to take their place. In turn, this is impacting how our clients’ claims are being handled. 

The problem may come from a lack of qualified candidates. Many individuals entering the claims industry have unrelated post-secondary education. Others enter the insurance industry looking for a change from their previous careers. Insurers are struggling to fill open positions and to improve employee retention. These challenges increase burnout among experienced adjusters, resulting in further shortages. Unfortunately, these systemic issues impact our clients’ accident benefits claims. When a file is re-assigned, they need to review the file. This period of review can delay payments and treatment plan approvals. Even worse, a new adjuster might now have a file that is beyond their knowledge or experience level. This can result in unnecessary denials and disputes.

As a former unit claims manager, I have seen this firsthand. I worked to pair new adjusters with a more senior adjuster for mentoring. Mentoring does not directly help profitability. This means that many senior adjusters do not have the resources to be mentors. 

The talent and training shortage compound the daily struggles for our clients and their treatment teams. To deal with this reality, reach out to one of our accident benefits specialists. We have been in the shoes of the adjusters. We are in a unique position to guide junior adjusters in the right direction, and if necessary, escalate an issue to their supervisor. 

About the Authors

Helen has been working in the insurance and legal industries for more than 29 years. She is happy to use her expertise, experience, and education in working with clients who have sustained serious traumatic injuries achieve their goals of rehabilitation for a brighter future.

To learn more about Helen, please click here.