How can insurtech professionals address job displacement concerns?

1 Embrace lifelong learning

One of the key ways to adapt to the changing demands and opportunities of insurtech is to embrace lifelong learning and upskill yourself constantly. This means staying updated on the latest trends, tools, and best practices in the sector, as well as acquiring new skills and competencies that are relevant and valuable for your current or desired role. You can do this by taking online courses, attending webinars, joining professional networks, reading blogs and newsletters, and seeking mentorship and feedback from your peers and leaders.

2 Diversify your portfolio

Another way to address job displacement concerns is to diversify your portfolio and expand your range of services and offerings. This means exploring new markets, niches, and segments that can benefit from your expertise and experience in insurtech, as well as finding new ways to add value and solve problems for your existing and potential clients. You can do this by conducting market research, identifying gaps and opportunities, developing new products or features, collaborating with other insurtech professionals or partners, and testing and iterating your solutions.

3 Leverage your soft skills

A third way to address job displacement concerns is to leverage your soft skills and showcase your human edge in insurtech. This means emphasizing and enhancing your skills and abilities that are not easily replicated or replaced by technology, such as communication, creativity, critical thinking, empathy, leadership, and teamwork. You can do this by demonstrating your soft skills in your resume, portfolio, and interviews, as well as by seeking feedback and improvement opportunities, engaging in social and professional interactions, and participating in community and social impact initiatives.

4 Seek career guidance

A fourth way to address job displacement concerns is to seek career guidance and support from experts and resources in the insurtech sector. This means reaching out to career coaches, counselors, or advisors who can help you assess your strengths, weaknesses, goals, and options in insurtech, as well as provide you with advice, tips, and referrals to help you advance or transition your career. You can do this by searching for online or offline career services, platforms, or programs that cater to insurtech professionals, as well as by networking with other insurtech professionals who can share their insights and experiences.

5 Be flexible and resilient

A fifth way to address job displacement concerns is to be flexible and resilient in the face of uncertainty and change in insurtech. This means being open to new challenges, opportunities, and learnings that insurtech brings, as well as being able to cope with stress, setbacks, and failures that may arise along the way. You can do this by adopting a growth mindset, a positive attitude, and a proactive approach to your career development, as well as by seeking support and assistance from your colleagues, friends, and family when needed.

6 Be ethical and responsible

A sixth way to address job displacement concerns is to be ethical and responsible in your insurtech practice and profession. This means being aware of and adhering to the ethical and social implications of insurtech, such as data privacy, security, transparency, fairness, and inclusion, as well as being accountable for the impact and outcomes of your insurtech solutions and services. You can do this by following the codes, standards, and regulations of the insurance industry and the insurtech sector, as well as by engaging in dialogue, debate, and advocacy on the ethical and social issues and challenges of insurtech.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?