Q: At this year’s CPCU Society Leadership Summit, what did insurance carrier executives say are the main challenges facing the industry?

Robust, creative, and strategic planning is paramount for long-term success in the mutual insurance industry. At a time when NAMIC has revealed the sector faces increasing pressures from reinsurance factors, it has never been more important for carriers to take proactive steps to grow, balance capital constraints, and transform their businesses.

The insurance industry is dynamic with new risks emerging as well as the strategies organizations develop to mitigate them, but within the captive industry, these risks and the unique challenges captives face require specific solutions to address them.

In today’s highly competitive carrier landscape, organizations encounter a wide variety of challenges when it comes to enhancing their talent management strategies, mitigating turnover, and attracting new talent. Joe Berrios, Managing Director — Carrier Practice, shares a few of Gallagher Bassett’s (GB) key talent initiatives aimed at cultivating a workforce that excels in delivering service excellence and superior claims results to our carrier partners.