Unlocking early career success with insurance software skills

Insurance technology is constantly evolving, and because of this, young technology professionals have more opportunities than ever before to find a career in insurance that fits their skills and interests. Many just starting out in their career might be surprised to find out that there are more parallels between the insurance industry and their favorite tech company or app developer than meets the eye. This article will explore the pivotal role that subscription-based estimating systems, mobile apps and data-focused development tools play for early career insurance professionals looking to grow their career opportunities. 

In property claims, the use of subscription-based estimating systems like Xactimate and Symbility is a standard technical skill that becomes crucial for accurate and efficient claims processing. These tools streamline the estimation process, helping organizations document and expedite claims settlements, leading to prompt and accurate claims resolution. 

Embedding software and data-driven technology, with applications from the field all the way to the back office, is a key focus for insurance companies as they activate digital transformation within their organization. Companies need young, tech-savvy digital natives that are passionate about learning software quickly and integrating technology into workflows to help bridge their digital transformation goals. And there is no shortage of this kind of talent. According to TrueUp data, approximately 430,000 tech workers were affected by layoffs from technology companies in 2023. This talent pool, combined with brand-new Gen Z workers freshly entering the workforce, are likely looking for a more stable work environment in which to grow their career.

The good news for young professionals: the learning curve for insurance technology is surprisingly short. Typically, it takes two weeks or less to train someone to proficiency in a professionally developed training program. Software allows users to build on their experiences, establishing a standard by charting a portfolio of claims expertise and resulting analytics. Young professionals can open doors for career advancement if they can master insurance software and show insurers and policyholders their portfolio of expertise.

Mobile apps are omnipresent in the industry with a strong presence in both subscription services and internal operations. These services offer ways for users to contribute data, feedback and ratings on the efficiency of the applications, facilitating communication among the user and development communities. As an example, in claims organizations, colleagues can be direct contributors, sharing insights, analysis and improvements with technologists and developers. The tools they utilize rely on users to generate insights, resulting in new features and capabilities while furthering their reliability, relevance and efficiency. Just like at a buzzy startup or Silicon Valley operation, insurance industry professionals who learn how to integrate technology into their activities and workflows will position themselves for growth.

Jeffrey Keyes, an apprentice in the Sedgwick Property business shares his perspective: "Being introduced to new technologies has expanded my perspective into learning new ways of how claims work and why the world needs them. I didn't know any of the software when I started six months ago but I have learned how these tools facilitate claims management, bringing more interest on furthering a technical career."  

When technology is deeply integrated into the claims process, professionals can also build their data analysis skills. Interns and apprentices, for example, get the opportunity to learn advanced, data-focused development tools such as Python and Tableau. These tools are transforming the insurance claims industry by extracting meaningful insights from datasets leading to predictive modeling and data centric risk assessment and decision-making.  

Shelby Thompson, Sedgwick's property apprentice program lead notes, "Technology in insurance isn't just about efficiency; it's about using innovation to better serve people in need of a helping hand. Helping others is at the core of what the business is about and a powerful motivator to why this industry is a fit for me."

The intersection of technology and insurance offers a dynamic environment for education, innovation and career growth. With many opportunities to work with software and design more efficient apps and systems that make a measurable human impact, the insurance sector should not get overlooked by early career professionals seeking tech-focused roles. 

This article is the second in a series exploring how early career roles in insurance can be an unexpected and strategic alternative to traditional tech industry roles. Read others in this series here.