Recruiting the right talent is a key challenge for businesses in any industry, and the insurance sector is no exception. With a constantly evolving landscape, finding candidates who can not only meet the technical demands of the role but also align with the company’s values and culture is essential for long-term success.

Recently, we ran a poll to gain insights into what professionals in the insurance sector consider the most valuable qualities when hiring new talent.

The poll asked: What’s more valuable when hiring in insurance?

The options were:

• Technical expertise

• Industry experience

• Soft skills

• Cultural fit

Here are the results based on all the votes:

• Technical expertise: 13%

• Industry experience: 49%

• Soft skills: 6%

• Cultural fit: 32%

Let’s break down these results and what they mean for employers and candidates in the insurance industry.

1. Industry Experience (49%)

Unsurprisingly, industry experience emerged as the top priority, with nearly half of respondents selecting it as the most valuable asset when hiring. Insurance is a complex industry, governed by strict regulations and detailed procedures that require a deep understanding of the sector. Experience in the field equips candidates with the knowledge needed to navigate the nuances of the industry, making them an attractive option for employers.

Employers tend to prefer candidates who are already familiar with insurance processes, underwriting principles, risk assessment, and compliance issues. This not only reduces the time required for onboarding and training but also ensures that the new hire can make an immediate impact.

2. Cultural Fit (32%)

The second most valued quality was cultural fit, with 32% of respondents indicating it as crucial when hiring. In today’s business environment, it’s not just about what candidates can do, but how they do it and whether they align with the company’s mission and values.

A good cultural fit can encourage teamwork, reduce turnover, and boost employee satisfaction. Hiring someone who embodies the company’s ethos can ensure that they will integrate well with the team, contributing to a positive work environment and long-term growth. Employers increasingly recognise that skills can be developed, but aligning with company culture is a more intangible quality that plays a significant role in achieving success.

3. Technical Expertise (13%)

Despite the technical nature of many roles within insurance, only 13% of respondents highlighted technical expertise as the most important factor. While this may seem surprising, it indicates that many employers believe technical skills can be taught or developed on the job.

Employers are perhaps more focused on the candidate’s ability to adapt, collaborate, and contribute to the company culture, rather than solely relying on their technical know-how. However, for highly specialised roles, technical expertise remains a critical consideration, especially in positions like actuarial work, data analytics, and risk management.

4. Soft Skills (6%)

Finally, soft skills received the least attention, with only 6% of respondents selecting it as the top quality when hiring. While soft skills like communication, problem-solving, and leadership are undeniably important, the poll suggests that they are seen as supplementary to more concrete experience and technical capabilities in the insurance sector.

The results of this poll offer valuable insights into the current hiring landscape within the insurance industry. While industry experience and cultural fit are the top priorities for employers, technical expertise and soft skills remain important for specific roles and environments.

At Finitas, we specialise in helping companies identify candidates who offer the right mix of these qualities, ensuring that they not only possess the necessary skills but also align with your company’s culture and goals. Whether you’re seeking a technical expert or a cultural fit, we streamline the recruitment process to ensure a successful hire every time.

Contact us today to learn more about our bespoke recruitment services for the insurance market by clicking here.