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January 12, 2016

Insurance Jobs of the (Near) Future

Summary:

As the industry changes, jobs will morph. Imagine a future full of drone pilots, Internet of Things architects and telemedicine nurses.

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As the insurance industry continues its slow but steady journey into a digital future, the skills required by the insurance workforce of tomorrow will also change. Here is my take on some of the insurance jobs we can expect to see in (I hope) the near future.

Digital Forensic Investigator

It’s happening more and more – fraudsters submit an insurance claim only to have it thrown out because someone’s discovered footage showing the whole thing was staged. My two favorite examples of recent times are the pregnant woman case and the Bugatti Veyron case. With more of our lives shared online, it’s easy for insurers to check our digital alibis, and digital forensic investigators (basically people who get paid for trawling social media) are the mechanism to do this.

Cyber Actuary

Cyber insurance is becoming a must have for corporations, but it won’t be long until it becomes a must have for individuals, as well. To effectively price this insurance, a new breed of digital natives with actuarial skills will be required to work out the risk and loss associated with a personal hack of your Facebook, Twitter, Instagram, LinkedIn and email accounts.

Drone Pilot

If you’re currently working as an insurance assessor, I recommend you start learning how to fly a drone. On any given day in the future, you could have five drones at your command, each one automatically programmed with a flight path of claim sites to visit. As each drone arrives on site, you take manual control to get a good look with the on-board camera. Same job, but no more climbing roofs or visiting wreckers.

Telemedicine Nurse

Panel doctors beware! Five years from now, most medical examinations will be done at your local “telemedicine booth,” where you’ll self-assess using the same tools a doctor would use. A live telemedicine nurse, located anywhere in the world, will be on a video conference screen located in the booth to guide you through any tricky parts and to verify that it’s actually you taking the tests.

Internet of Things Solution Architect

It’s already possible to control many Internet-connected things in your home – televisions, fridges, air-conditioners, door locks, lamps and pet food dispensers – using smart phone apps. So, in theory, it should also be possible for these devices to notify you when they’ve been stolen (televisions), had food spoil because of a power failure (fridges) or been broken into (door locks), or when a pet stops eating and falls ill (pet food dispensers) – all of which are also insurable events. The challenge for IOT solution architects is to take the data and use it to trigger automated claim applications and approvals. It’s an exciting (though less private) future.

Have we missed anything?

These are just a few of the jobs that insurers can expect to start recruiting for shortly, if they haven’t already. Do you agree? Have we missed anything? Please comment below!

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About the Author

Michael Tempany is director of SMS Management & Technology Asia, an Asia-Pacific management consulting firm. He is passionate about digital transformation and has helped insurers across Asia transform their businesses. Clients include AXA, Prudential, Manulife, Allianz, Zurich, QBE, IAG and AIG.

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