As discussions surround insurance technology, data analytics and mobile devices in the insurance industry, it is important to consider the benefits they may offer to your business. A recent survey has highlighted that technology not only satisfies customers, but employees prefer to work in a technologically advanced environment.

In previous blog posts I have highlighted a number of benefits for upgrading technology, including increased customer satisfaction, updated communication channels, and reduced operational costs, but a recent survey conducted by Vertfore reveals that employee job satisfaction is affected by their organization’s use of technology.

insurance technologyWith an impending talent gap in the industry, it is more important than ever for insurers to retain employees. With 77% of respondents believing that they will remain in the insurance industry for their entire career, citing the work/life balance, compensation offerings, and enjoyment of work as their reasons for staying in the industry, employers need to consider employees’ job satisfaction.

Nine out of ten respondents stated that their organization’s use of technology was critical to their job satisfaction, with 82% stating that technology adoption has increased their personal productivity. Productivity has previously been cited as a major motivation for insurers to adopt cloud technology by Chief Financial Officers (CFO’s). Digital collaboration, enabled by cloud technology, allows employees to share files, communicate more effectively, and use their employer’s applications on their personal devices.

In fact, 71% of respondents say that they use their smartphone for work, including 34% for lead generation, and 27% for customer support. This is becoming more common, and often I meet professionals that access their business emails using their smartphones. This promotes the workforce of today:

  • A more flexible working environment
  • Improved Employee relations
  • Out of office contact (Although not always preferred!)
  • Improved productivity and efficiency due to technology

With the huge percentage of respondents looking to remain in the industry for the long haul, it is time to consider your employees when making technological decisions.