Talent scarcity a barrier to digital transformation success. Insurers are competing for talent and whilst the UK insurance industry is seen as an attractive sector to work in that cannot be said for the USA.
Unless they change that insurers face uncertainty and are right to fear the inroads of Amazon and other digital conglomerates.
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Insurance industry demand for talent in areas such as big data will likely “exceed available supply by a factor of four,” according to a new blog posting from McKinsey & Company. That reality underscores why insurers hoping to modernize their information technology systems and make a successful digital transformation must place a high priority on technological literacy when they hire new employees