Matthew Stuttard, managing director of JM Glendinning Insurance Brokers in Blackburn, has challenged the insurance industry to “be visible” to attract the next generation of talent.
Speaking at the recent Institute of Preston and Blackpool Chartered Insurance Institute (CII) dinner, Matthew began by congratulating his colleague, Michelle Harness, on her Presidency of the Institute of Preston and Blackpool CII, which she took up in May 2022. He said: “Michelle is the most passionate, dedicated, and hard-working person. She is a credit to our industry.”
He continued: “The great resignation and the great retirement. I’m sure you’ve heard those phrases being bandied about. People are switching jobs more than ever. Competition for talent is fierce – salaries, hybrid working, flexibility, sabbaticals, competitive packages. Even when we are successful at recruiting from within the sector, we are just reshuffling talent, contributing to wage escalation, and failing to solve the underlying issues in our industry.
“The prediction is that this will continue for some time. There is a structural gap in labour supply because there simply aren’t enough traditional employees coming into the industry. In the meantime, I’m seeing the average age of an insurance broker moving upwards. We are losing our most experienced and knowledgeable people to retirement and yet we are not doing enough to attract the next generation in big enough numbers.
“Alongside my role at JM Glendinning, I am an Enterprise Adviser working with a local secondary school, sixth forms and colleges. The students are amazing. The problem is that they barely know what insurance is. We’ve got to talk about insurance. We’ve got to be visible. I urge you to reach out to your local learning providers, schools, colleges the Chartered Insurance Institute, attend those careers days, and explore apprenticeships in your business for the future of our industry.”
On the success of the event, which was attended by 112 insurance professionals from around Lancashire, Matthew says: “The event was superb. A room full of likeminded people from across the sector – a great opportunity for both competitors and partners to discuss our amazing industry. Brokers, insurers, and claims functions all coming together, and it was such a privilege to support Michelle on her Presidency.”
