InsurTech Talent Wars: Where Traditional Meets Innovation

📊 The Numbers Don't Lie: This Talent Tug-of-War Is Real

Traditional carriers aren't just competing against each other anymore. They're battling nimble insurtechs that raised $8B globally in 2023 alone, according to McKinsey. That's serious money fueling aggressive hiring for roles in data science, digital product management, UX design, and automation engineering.

But here's what's interesting: traditional players aren't rolling over. They're fighting back hard—launching internal innovation labs, modernizing their tech stacks, offering hybrid work models, and yes, even Silicon Valley inspired campus perks like bocce ball courts. The result? Both sides are fishing in the same talent pool, driving up salaries and making candidates incredibly picky.

The reality check: If you're in insurance right now, you have more leverage than you've had in decades. But only if you know how to use it. It doesn’t mean the job search will be fast or painless, but you’ll likely end up in a better place.

🎯 The 5 Skills That Make You Irresistible to Both Sides

After placing hundreds of professionals across carriers and insurtechs, We’ve identified the tactical skills that make hiring managers fight over candidates:

1. Insurance Fundamentals + Tech Fluency
Can you explain how APIs connect to claims processing? Do you understand how predictive models impact underwriting decisions? The magic happens when you can speak both Excel and SQL, both GAAP and GitHub. This hybrid knowledge makes you incredibly valuable because most people lean heavily toward one side or the other.

2. Cross-Functional Translation
The professionals weI place at the highest salaries are the ones who can translate actuarial insights for product managers—or user feedback for operations teams. You become indispensable when you're the bridge between departments that traditionally don't understand each other.

3. Customer-Centric Thinking
Here's something both sides agree on: insurance needs to be more human. Whether it's UX research, customer journey mapping, or behavioral science, anything that helps you understand and improve the customer experience is pure gold. I've seen candidates get multiple offers just because they could articulate how to make filing a claim less painful.

4. Agility & Continuous Learning
The job you accept today will evolve dramatically in six months—guaranteed. The professionals who thrive are the ones who embrace change and commit to leveling up regularly. Show me someone who says "that's not my job," and I'll show you someone whose career has stalled.

5. Strategic Certifications
CPCU and other traditional credentials still carry serious weight at carriers—don't dismiss them, as Rob Galbraith famously says “Domain knowledge never goes out of style”. But for insurtech roles, consider adding AWS Cloud Practitioner, Scrum Master, or Google Data Analytics certifications. Especially if you're pivoting from a traditional role, these demonstrate you're serious about the tech side.

🧠 Where the Sectors Actually Differ (And Why It Matters)

Traditional Carriers offer what we call "stability with upside":

• Clear advancement paths and structured mentorship

• Stronger benefits packages and retirement contributions

• Established training programs and professional development

• The security of knowing your company will exist in 10 years

Insurtechs lean into "mission with momentum":

• Equity packages that could pay off big (or not at all)

• Broader roles where you wear multiple hats

• Lightning fastFaster decision-making and direct access to leadership

• The thrill of building something from scratch with top of the line technology

Here's our insider insight: The lines are blurring fast. Carriers are increasingly matching insurtech perks like hybrid work and learning stipends, while insurtechs are maturing their compensation and benefits to compete with legacy security. Don't make assumptions—always ask for total compensation breakdowns during interviews.

💡 From My Recruiting Playbook: Tactical Moves to Make Right Now

If you're job hunting:

• Build a hybrid resume that balances insurance credentials with digital literacy

• Update your LinkedIn headline to reflect adaptability: "Claims Leader | Digital Transformation Advocate" sends exactly the right signal (If your LinkedIn needs a serious revamp we recommend Brett McKenzie at MotiVerse.)

• Prepare stories that demonstrate both traditional expertise and innovative thinking

• Research the company's tech stack before interviews—knowing their systems shows serious interest

• Have they been on Profiles in Risk or another podcast?

If you're hiring:

• Highlight cross-training opportunities and growth paths in job postings—these matter more than office perks

• Be specific about the technology your new hire will work with

• Emphasize leadership visibility and impact on company direction

• Don't just list requirements—explain why the role matters to the business

• The more remote friendly you can be, the better

If you're switching from outside insurance:

• Focus ruthlessly on transferable skills and reframe your experience

• Customer support in retail? That's claims empathy and conflict resolution

• Project coordination in any industry? That's underwriting operations and stakeholder management

• Sales experience? That's broker relations and client communication

• Position your background as bringing fresh perspective, not lacking industry knowledge

🔮 What I'm Seeing in the Market Right Now

Hot roles that companies can't fill fast enough:

• Product managers who understand both insurance operations and user experience

• Data scientists who can translate insights into business impact

• Claims professionals with process automation experience

• Underwriters who can work with AI/ML decision support tools

• B2B Sales Experts with a history of success selling tech into the insurance industry

Salary trends:

• Senior data roles: 15-25% increases year-over-year

• Product management: Insurtechs paying 20-30% premiums over carriers

• Claims leadership: Carriers fighting back with retention bonuses

• Entry-level: Both sides investing heavily in training programs

Geographic shifts:

• Remote work has exploded the talent pool—location matters less than ever

• But certain hubs (Austin, Chicago, Boston, Atlanta) are becoming talent magnets

🎪 The Magic of Being the Bridge

As someone who straddles both worlds—insurance recruiter and podcaster by day, magician by night—I've learned that the most successful professionals are the ones who embrace deliberate transformation. They don't just adapt to change; they position themselves as the bridge between tradition and innovation.

The insurance industry is evolving at breakneck speed. Companies need people who can honor the industry's risk management heritage while driving digital transformation. They need professionals who can maintain regulatory compliance while improving customer experience. They need leaders who can manage both legacy systems and cutting-edge technology.

That bridge person could be you.

📈 Your Action Plan for This Week

Monday: Audit your LinkedIn profile and resume for hybrid positioning

Tuesday: Identify three skills from the "irresistible" list to develop

Wednesday: Research five companies (mix of carriers and insurtechs) you'd want to work for

Thursday: Reach out to one contact in your network for an informational interview

Friday: Apply to one role that stretches your current capabilities

💬 Let's Keep the Conversation Going

What's your experience in the talent war? Are you seeing the salary pressure I'm describing? Hit reply and tell me what's happening in your corner of the industry—I read every response!

Share this newsletter with anyone navigating the traditional vs. insurtech decision. The more we can help each other understand this landscape, the better we all do.

📱 Connect with me:

• LinkedIn | Website | Profiles in Risk Podcast

Insuring Tomorrow delivers industry insights, employment trends, and strategic guidance for insurance professionals. Forward to colleagues, share on social, and help grow our community of forward-thinking insurance pros.

Sources: McKinsey InsurTech Report 2023, Bureau of Labor Statistics, Insurance Information Institute, and Tony's recruiting data from 125+ placements