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Insurance: job-seekers’ Ugly Betty

More people would prefer to be shot at by the enemy than suit up for a career in insurance, according to a new snapshot that portrays the industry as anything but the profession of choice for young people.

Research by CGU finds that dodging bullets, pouring pints or approving loans are preferred over working in insurance – a disturbing trend amid a national skills shortage. The research has led to calls for an industry makeover to make insurance more competitive in luring talent.

“People who work in insurance can look forward to a diverse and challenging career, with the opportunity to support the community and benefit from excellent working conditions,” CGU CEO Mario Pirone said.

“This message is clearly not resonating with the average Australian, and the industry faces a challenge to better sell itself as a diverse and attractive career prospect.”

Rating insurance alongside seven other careers including the armed forces, advertising and media, and hospitality, 66% of CGU’s 1000 respondents said the insurance sector is not attractive, and only 6% found it very attractive.

Just 34% of people surveyed said they find insurance at all attractive, compared with the health sector – the most popular choice with a combined 71% nominating it as an attractive career option.

Career paths in health, IT and government/public services topped the popularity list, and insurance finished last behind banking and the armed services.

Mr Pirone says Australia is facing one of the tightest job markets in 30 years, and unless the insurance sector deals with its image quickly it will lose its share of the best available talent.

“It’s critical that we work as an industry to highlight the diversity of roles and opportunities available in the sector,” he said. “We want people from diverse backgrounds to join our team, and we have training programs in place to help fast-track employees from other industries into the insurance sector.”