A Changing Workforce

2018 DEMOGRAPHIC RESEARCH STUDY + EMERGING ISSUES RESEARCH REPORT

The Institute has been conducting research on behalf of the industry for over a decade, with demographic research studies published in 2007, 2009 and 2012. The Institute has also been publishing an Emerging Issues Research Series – providing relevant and insightful research reports on the issues impacting the property & casualty insurance industry in Canada. Reports in the series include the sharing economy (2017), automated vehicles (2016) and cyber risks (2015).

NEW REPORTS COMING THIS FALL

This year, the Institute is publishing two important reports, one in each of our research divisions:

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Demographic Research

Demographics of the P&C Insurance Industry in Canada 2017-2027

The executive summary provides key findings and conclusions of the research, and is a snapshot of the decade of change in the industry's workforce demographics with projections for retirements to 2027. 

Report cover

Emerging Issues Research Series

A Changing Workforce: Implications of Technological Disruption for the Insurance Industry in Canada

This research report provides a future-forward view of the implications of talent and technological disruption on the industry's workforce. 

ABOUT THE RESEARCH

The Institute is pleased to announce that we have contracted with the Conference Board of Canada for the 2017/18 demographic research and the Emerging Issues Research Report.

 

The Conference Board of Canada is the foremost independent, evidence-based, not-for-profit applied research organization in Canada. Each year, the Conference Board hosts more than 250 meetings and conferences, delivers over 80 leadership programs, and produces more than 300 research documents and economic forecasts. The Institute would like to particularly acknowledge Michael Burt, Executive Director, Economics and Robert Meyer-Robinson, Economist, Industrial Economic Trends of the Conference Board of Canada for their leadership on the two reports. With their insight and the participation of the industry, we anticipate providing a wealth of valuable information that will help employers address challenges and implement initiatives to meet their current and future talent needs.

As we wait for the full story behind the latest research to develop, we have begun telling the parts of the story we know in trade publications and at key events.


ARTICLES & COLUMNS:

Preparing for the Demographic Revolution | October 2017 | Special Interest Feature | Canadian Insurance Top Broker
How to attract more young people to careers in insurance has been a concern for CEOs and human resource (HR) managers in the Canadian property and casualty insurance industry for years. When the Insurance Institute of Canada undertook its first round of research into the demographics of the industry in 2007, the findings confirmed the fears of many. The baby boom generation made up to 49 percent of the workforce, while millennials were a mere 12 percent - significantly below their representation in the general labour market.

Millennials Rising | January 22, 2018 | Feature | Canadian Underwriter
Some would say the property and casualty (P&C) insurance industry is likely to change more over the next five years than it has in the past 50 years. That may well be true if the industry can fully embrace technological advances like artificial intelligence and machine learning, big data analytics, internet of things, insurtech, blockchain advancements, and more. It is even more likely if the industry has a workforce that can keep pace with these innovations.

P&C industry faces looming shortage of IT workers | April 11, 2018 | News | Canadian Insurance Top Broker
IT workers in Canada’s property and casualty insurance industry are starting to resemble the legacy systems they are servicing — nearing retirement.

What a difference a decade makes | May 2018 | Upfront | Canadian Insurance Top Broker
The proportion of boomers and millennials working in insurance has flipped over the past ten years.

EVENTS & SEMINARS:

Margaret Parent, Director, Professionals’ Division, and lead on the Institute’s demographic research projects since the beginning, has presented research highlights at IIO-GTA's Symposium on April 10, and at Insurance Business Canada's Millennials in Insurance Conference on April 24. But don't worry; you haven't missed the main event(s)!

On September 19, 2018, join us for the official research report launch on a free national webinar.

Register for the webinar


And in October and November 2018, join Margaret and the Conference Board's Michael Burt as they bring the research to 12 key centres across Canada. A full-day event is being planned for the GTA. Please note the dates below and look for more information from your local institute or chapter in the near future.

City Date
Vancouver Wednesday, October 3
Calgary Thursday, October 4
Edmonton Tuesday, October 16
Winnipeg Wednesday, October 17
Regina Thursday, October 18*
Kitchener Tuesday, October 30
Ottawa Wednesday, October 31
Montreal Thursday, November 15
Toronto Monday, November 19
Halifax Wednesday, November 21
Hamilton Thursday, November 22*
London Tuesday, November 27*

 *Regina, Hamilton and London are lunch & learn style presentations, featuring Margaret Parent only.