Drivers for Learning at Workspeed in the Insurance Industry

There’s no doubt that the business climate within the insurance industry is in an odd place at the moment. With the pandemic, sheltering in place, and the economy, challenges abound. And unfortunately, the issues insurance companies faced prior to COVID-19 haven’t gone away.

Challenges Uncover Heightened Pace of Work
The insurance industry is in the midst of a talent crunch, especially in the area of skills. With high turnover and a vast majority of managers and leaders coming into retirement age, the ability to attract and onboard new talent into new business segments is imperative. Additionally, the idea of reskilling has gained momentum as companies aim to keep expertise in-house as competitors attempt to woo knowledgeable workers away.

More catastrophic events with ever-increasing hurricanes, tornadoes, and wildfires have hit companies within the property and casualty sector particularly hard, prompting the need for more efficient claim processes to meet client needs. And now with the pandemic, health insurance processes are rapidly changing as companies adjust to the new medications, testing, and procedures.

Consumers have more power and a lot of insurance choices than ever before. Consumers can easily compare and switch providers online driving companies to continually deliver innovative products and look for ways to deliver a better customer experience.

What’s interesting is all of these challenges point to an increased pace at which providers need to empower agents, process claims, and introduce new products.

Impacts on the Learning Experience
Unfortunately, the learning infrastructure within insurance companies is outdated, complex, and disparate, making it almost impossible to keep up let alone address these challenges.

Agents, call center employees, and claims adjusters need to be more knowledgeable about policies, coverage, and processes to get customers back on their feet as quickly as possible. If content sits in binders or is not consistent across locations, it is difficult to know what customers are entitled to or to deliver a sense of consistency.

A large LMS may be great for delivering knowledge that doesn’t change but when agents in the field are in the middle of a task, trying to locate a particular screen with specific information for the moment is not sustainable. In a rapidly changing environment, an LMS that requires heavy administration just doesn’t work for accessibility and content relevance.

Enter Operational Learning
The combination of industry challenges with the need to deliver learning on-demand brings to light the concept of operational learning. Unlike learning within the HR or organization development team, operational learning is delivered by a specialized team aligned closely with the line of business. Their responsibility is to develop and deliver learning content around business execution, so it’s dynamic and used by “deskless” workers out in the field.

To onboard employees faster, equip them with dynamic knowledge, and roll out new products faster, insurance companies should look at how to deliver learning in the flow of work instead of learning that’s an obstacle to getting work done.