2018 Research Study
A Decade of Insight coming soon!
The Institute has been pleased to conduct demographic research, for the benefit of the industry, since 2007. We hope you are familiar with our 2007 and 2012 reports that have provided valuable insight to the industry.
Significant changes have taken place in the general labour force in Canada to date, and are projected going forward. It is timely to replicate the demographic research study, to assess the changes that have taken place in the industry’s workforce and that are anticipated going forward over the next five to 10 years.
The Institute is pleased to announce that we have contracted with the Conference Board of Canada for this 2017/18 demographic research, specifically to conduct the 4 phases of data collection, to research changing workforce issues, and to benchmark the industry’s workforce compared to other sectors and Census Canada data.
The industry’s participation to date has surpassed both previous studies. And we are hoping to increase our previous response rates on the employee survey as well. To help get a large response rate to the surveys before our closing date of November 30th, we are taking a two pronged approach:
1. We’ve invited industry employers to participate by sending the survey link to employees and executives to encourage participation. If an organization is able to participate, their employees will receive an email from their HR department inviting them to complete the survey.
2. The Institute will also be inviting our members to participate by sending the survey link to members, who are not employed by the participating employers. Institute members will receive a first email with survey link on October 24th. Reminder notices will follow.
We hope you will participate by answering the survey before November 30th!
The more people who respond to the surveys, the more robust data we’ll have on how you feel about working in insurance and how some of the changes in the industry may be impacting or will impact your roles and your organizations going forward.
Expected Key Outcomes of the Research:
An understanding of the major recruitment and retention challenges faced by employers in the P&C insurance industry, as well as potential strategies to mitigate these challenges.
Insights about how the skill requirements of the P&C insurance industry’s workforce are changing.
A comparison of how the P&C insurance industry’s demographic trends contrast with the rest of Canada’s labour force.
An understanding of the strategic implications of key emerging issues for the P&C insurance industry’s professional work force and appropriate recommendations to manage these challenges.
A 10-year outlook (2017-2027) projecting the potential change in the P&C insurance industry that may be attributable to demographic trends and to emerging issues.
Identification of the degree to which the perceptions of the industry (CEO, HR and employees) are consistent with the demographic realities and the key emerging issues that are likely to have the most influence on the composition of the industry’s future workforce.
Publishing and Presenting the Findings:
The Institute will publish two landmark reports in September 2018 providing a wealth of information on the industry’s workforce, namely: “A Demographic Analysis of the P&C Insurance Industry in Canada: 2017 – 2027” and the fourth report in the Institute’s Emerging Issues Research Series: “A Changing Workforce: Implications for the Insurance Industry in Canada.”
The Institute’s CIP Society will host a series of seminar presentations on the research study across the country in Fall 2018 for the benefit of the industry. We look forward to presenting the findings, generating discussion on the changing workforce in the industry, and the implications for insurance organizations in Canada.