A major recruitment group has warned the insurance industry it will struggle to find skilled staff to handle dispute resolution, property claims and other key roles because of a long-running talent shortage.

Filling broking and underwriting positions will also be difficult as the competition for capable employees intensifies, Hays Recruitment says in a new report.

“The broker market has seen dramatic changes in the past 12 months, which has resulted in the need for higher calibre candidates who can provide sufficient advice to their clients,” the report says.

“The talent pool for experienced account executives and account managers remains small due to clear career progression pathways, high retention rates and generous salary packages.

“Available candidates are therefore overwhelmed with job opportunities, and consequently those employers who offer niche areas of expertise are more likely to secure good talent.”

On property claims consultants, Hays says insurers may have to reassess their salary packages if they hope to attract strong candidates.

It says remuneration for underwriters probably needs a review, too.

“As the market becomes more competitive, employers require underwriters who can actively meet and develop relationships with brokers who work in their specialty area.

“Technically sound candidates are still available, but underwriting agencies very rarely match their salary expectations.”