A career in life insurance sales is now considered more attractive to job seekers, but employer inflexibility is holding businesses back from securing talented and eager candidates.

According to recruiting expert Hays, there is a growing interest from candidates, particularly at the entry level, in a career in life insurance.

“Candidate feedback shows that there is now a lot less stigma surrounding a career in life insurance compared to what there once was,” Senior Regional Director Jane McNeill says.

“It seems the downturn took some of the shine off the allure of a trading or other higher-risk finance career,” McNeill says.

However, she says there will continue to be a skills shortage in life insurance unless employers relax their focus on only recruiting candidates with five or more years of experience.

“Most life insurers are now looking for experienced life underwriters, either group or retail, as a result of growth in demand and competition within such products,” McNeill says.

“They want candidates that already understand the subject matter, can make decisions and add value immediately. They want someone who can hit the ground running,” she says.

‘UNWILLINGNESS TO INVEST’
Australia’s current supply of such candidates is disproportional to the demand for experienced life underwriters, according to McNeill.

She says despite this, employers will not consider recruiting and training an entry-level candidate, or employing an underwriter with two to three years experience.

“Such unwillingness to invest in candidates has not only led to a number of candidates being unable to pursue a career in life insurance, but it also has obvious long-term skills shortage ramifications.