The importance of Employer Brand; addressing the talent gap

The London Market faces a looming talent gap, a lack of diversity and spiralling wage inflation. Against that backdrop, Employer Brand is becoming ever more important in attracting and retaining the best talent. The latest Insurindex league table highlights those London leading Underwriters that are getting this right. But our research also shows that, overall, Underwriter opinion of London’s leading Underwriters as employers is extremely low.

See for yourself here: https://theinsurindex.com/employer_brands/.

Almost half of the carriers studied for the index score below five out of 10. Beazley heads up the Underwriter Employee Brand ranking for 2022, followed by Liberty Specialty Markets, Hiscox, Brit and Convex. These are currently the most strongly recommended brands-as-employers by Underwriters, and are more likely to be considered ahead of competitors, as well as promoted to peers and new talent coming into the Market. Leading Employer Brands will see reduced recruitment costs, and be able to attract and retain the best talent – giving them competitive advantage. Strong brands in general are more appealing to talent: Beazley and Liberty, for example, are also Power Brands in The Insurindex Leading Insurer 2022 Brand ranking https://theinsurindex.com/london-insurance-market-index/.

To see the Insurindex Employer Brand leaders, head to https://theinsurindex.com/employer_brands/. Furthermore, in this Insurer Insights article, Ben Bolton, director of Insurindex, discusses the findings of Insurindex’ latest research and leave table of employer brands and what London’s leading Underwriters need to do to improve their ability to attract and retain the best talent.

“Talent is key to success and right now there is a massive shortage of good talent. London Market Underwriters that want to lead must now build strong Employer Brands, and currently there is a window of opportunity, because so few have invested in this aspect of brand management. Some Underwriters have such weak Employer Brands that they must be paying over market rates to recruit the right staff. A relatively modest investment in developing their brand and targeting key talent will make a big difference over time,” Ben Bolton, Gracechurch