Employee retention, wellbeing, and Inclusion in the Insurance industry

Putting People First: How the Insurance Industry Is Creating a More Human Workplace

The insurance industry has traditionally been based on trust, dependability, and relationships not only with customers, but also with the people who work behind the scenes and handle claims. In recent years, there has been a clear shift: businesses are realizing that in order to effectively serve their consumers, they must first care for their employees. That entails concentrating on three major areas: retention, welfare, and inclusiveness.

HR departments are continuously struggling to strike a balance between senior leadership's objectives and demands and their employees' requirements. To meet the company's strategic mandate while also ensuring employee happiness and productivity, effective HR management must link organizational goals with employee pleasure. (recruitee.com, 2021)


Retention: Beyond Paychecks and Perks

It’s no secret that employee turnover can be costly, especially in knowledge-heavy industries like insurance. But today’s workforce isn’t just chasing higher pay—they’re seeking purpose, growth, and recognition. For example, companies like AXA and Allianz have invested in career development programs and internal mobility platforms that allow employees to explore different roles within the organization. This keeps employees engaged and reduces the urge to look elsewhere.

Wellbeing: More Than Just Gym Memberships

The pandemic highlighted what many had been quietly struggling with—burnout, anxiety, and a lack of work-life balance. The best insurance companies responded not just with token wellness benefits, but with real change. Bupa, for instance, introduced flexible working policies and mental health days, alongside 24/7 access to counselors. Other firms offer wellness budgets, mindfulness sessions, and even virtual yoga classes to support overall health.





Inclusion: Making Everyone Feel Seen and Heard





Diversity and inclusion aren’t buzzwords-they’re business essentials. Customers are diverse, and so should the teams that serve them. Progressive insurers are working to build more inclusive workplaces by introducing mentorship programs for underrepresented groups, unconscious bias training, and employee resource groups (ERGs). For example, Aviva launched an internal campaign highlighting personal stories from LGBTQ+ and minority ethnic employees, creating an open dialogue and building a stronger sense of belonging.

Employee engagement reflects how driven and devoted your staff is. Engagement has an impact on everything from staff retention to your organization's financial line. 71% of executives believe it is a critical aspect in overall organizational performance. However, chronic disengagement remains a concern for many firms, particularly as they transition to remote work and the new normal. (Achivers.com, 2025)

Looking Ahead

The insurance industry has traditionally been seen as formal, even a bit rigid. But that image is changing fast. Forward-thinking companies are proving that when you invest in people-support their growth, care for their wellbeing, and celebrate their differences-you don’t just retain talent. You build a workplace people are proud to be part of.

Because at the end of the day, insurance is about protecting lives-and that starts with the lives of the people within the organization.


References List

recruitee.com, 2021. recruitee blog. [Online] 

Available at: https://recruitee.com

[Accessed 08 April 2025].


Achivers.com, 2025. Achivers. [Online] 

Available at: https://www.achievers.com

[Accessed 08 April 2025].



Comments

  1. The Impact of SUSTAINABLE HRM FOR APPAREL INDUSTRYApril 17, 2025 at 3:09 AM

    Great explanation and nice blog. It clearly explains that organizations should care about employee growth, health, and feelings. As a result, it creates a strong team and company.
    Commented by Lahiru Randima

    ReplyDelete
  2. Pawan AmayuruApril 17, 2025 at 3:47 AM

    This passage captures a crucial transformation in the insurance industry: the growing recognition that employee wellbeing is directly linked to business success. By putting people first through retention, welfare, and inclusiveness companies are shifting from a transactional model to a more human-centered approach. The tension HR departments face in balancing leadership expectations with employee needs is real, and aligning these effectively is what will set future-ready insurers apart. As highlighted by Recruitee (2021), success lies in harmonizing organizational goals with employee satisfaction a balance that ultimately drives both performance and purpose.

    ReplyDelete
  3. sadaniwijewickrameApril 17, 2025 at 4:27 AM

    "This article really hits home! You’ve beautifully outlined how the insurance industry is evolving by putting people at the center of its strategy. I especially appreciated the focus on inclusivity and real mental health support—it’s not just about keeping employees but helping them thrive. The examples from companies like Bupa and Aviva show what’s possible when care becomes a culture. Great read and very relevant for today’s HR challenges!"

    ReplyDelete
  4. Milan Sandeepa MuthukumaraneApril 17, 2025 at 8:17 AM

    A thoughtful overview of how the insurance industry is evolving. Prioritizing growth, wellbeing, and inclusion truly strengthens both people and performance. Great to see people-first strategies gaining real traction.

    ReplyDelete
  5. Lakshan AbeysekaraApril 17, 2025 at 10:37 PM

    Seeing the insurance sector move toward a more human-centered strategy is encouraging. Businesses not only retain talent but also create better, more resilient organizations when they go above and beyond the money to provide inclusion, wellbeing, and purpose. Long-term success now depends on taking care of employees; it is no longer a choice.

    ReplyDelete

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