Insurindex has released its latest index: the leading London Market Underwriting Employer Brands.
Attracting and retaining talent has never been more important for the London Market. Employer Brands are competing to attract talent from a shrinking pool, against the backdrop of spiralling wage inflation.
The Insurindex ranking shows that, overall, underwriters’ opinion of London insurers is very low, with almost half of the carriers studied for the index scoring below five out of 10.
Beazley heads up the Underwriter Employer 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.
Ben Bolton of Gracechurch comments:
"Talent is key to success and right now there is a massive shortage of good talent. London Insurers 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 insurers 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.”
The London Market Underwriting Employer Brand index is powered by insights from the Gracechurch Employer Brand Monitor.
For more information, please contact Editor@theinsurindex.com.