Outcomes

Cultivating Talent and Navigating Modern Challenges: Highlights from the LMF Market Practice Group

The latest LMF Market Practice Group session, held on 26 November 2024, offered an engaging platform for industry professionals to address critical issues surrounding talent development, workplace dynamics, and the evolving role of technology in the insurance sector. With robust discussions and interactive elements, the session, facilitated by our Founder, Roger Oldham, emphasised collaboration and forward-thinking solutions for the London Market.

Key Themes and Discussionss

1. Talent Development in a Hybrid World

Participants explored the impact of hybrid working on skill acquisition and knowledge transfer. Challenges such as reduced osmosis learning, fewer face-to-face interactions, and a growing reliance on digital tools were highlighted. Innovative solutions like reverse mentoring, targeted training, and fostering a collaborative workplace culture were recommended to bridge these gaps.

2. Adapting to Change

The roundtable also examined how the underwriting profession has transformed, requiring greater reliance on data and analytical tools. Speakers emphasised the need for a new skill set blending technical expertise with traditional relationship-building abilities. They underscored the importance of equipping underwriters to thrive in both in-person and digital environments.

3. Modernising Hiring and Retention

With the insurance market evolving, attracting and retaining top talent remains a priority. Discussions pointed to the need for hiring strategies that prioritise attitude, adaptability, and a willingness to embrace technology. Participants also noted the importance of mentoring and creating clear pathways for career progression to foster long-term engagement.

Poll Insights

Live polling at the event revealed critical insights, including:

• The majority believe hybrid work environments have made knowledge transfer more challenging.
• Many highlighted a need for more in-person training and reverse mentoring programmes.
• Networking remains a key motivator for attending such sessions, underscoring its value in professional growth.

Acknowledgements and Takeaways

The event was supported by Insurity, whose involvement was much appreciated. Special thanks go to guest speakers John Brown, Lead Underwriter at IQUW, and Tom Squires, Head of Digital Training at Aegis London, for their insights into the evolving landscape of underwriting and talent development.

Participants left the session inspired to review and discuss practical solutions in their own firms, from embracing innovative technologies to fostering inclusive, growth-oriented workplace cultures.

As the LMF community looks towards its 10th anniversary celebration, sessions like these continue to embody its mission: helping to drive modernisation, fostering collaboration, and strengthening the insurance market eco-system in a fast changing and increasingly digital world.