Industry Advantage: Next-Generation Learning

David Levenson, DBA, FSA, CFA, President and Chief Executive Officer, LIMRA and LOMA

February 2024

Following the onset of the pandemic, LIMRA and LOMA increased its focus on talent-related topics. So, some have asked us if it’s time to dial back. Based on our research, the answer is a strong “no.” Talent issues remain a top concern for industry executives.

According to a Boston Consulting Group (BCG) report completed in partnership with the World Federation of People Management Associations, 72 percent of human resource professionals say their company’s greatest business obstacle is “people challenges and talent gaps.” A Gartner, Inc. survey reveals HR leaders’ top organizational priorities for 2024 are leader and manager development and organizational culture. Also, global Aon plc research among risk managers, C-suite leaders and other executives indicates that “failure to attract or retain top talent” is now among their primary perceived risks.

Specific to the insurance space, LIMRA and BCG recently surveyed life insurance executives about their top priorities and concerns. Not surprisingly, the same theme emerges. Insurance leaders cite talent management as their company’s third-highest challenge, following growth and technology. Especially notable, though, is the fact that in the prior two editions of this research, talent management did not even appear in the top seven challenges cited. Today, talent management is a rapidly evolving focus area that merits attention and action.

Knowing this, what are some ways to address the talent issue? ...

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