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Career Development: Redefining the Journey

Career Development: Redefining the Journey. Margaret Resce Milkint Managing Partner The Jacobson Group. Trends and Shifts. How is the industry changing?. Unemployment Rates. Insurance Carriers and Related Activities National. Percentage. Source: Bureau of Labor Statistics.

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Career Development: Redefining the Journey

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  1. Career Development: Redefining the Journey Margaret Resce Milkint Managing Partner The Jacobson Group

  2. Trends and Shifts How is the industry changing?

  3. UnemploymentRates Insurance Carriers and Related ActivitiesNational Percentage Source: Bureau of Labor Statistics

  4. Top Recruiting Challenges Actuarial January 2019January 2018 Source: The Jacobson Group and Aon 2019 Q1 Labor Market Study

  5. Actuarial Employment • In 2016, actuarial employment was projected to grow 22% by 2022. • The current number of actuarial graduates outnumbers entry-level actuarial positions. • Demand remains high for mid-career actuarial talent (8-15 years). Source: Bureau of Labor Statistics

  6. Insert Actuaries Here: • Senior Management • C-Suite and Board • Climate Risk & Environmental • Profit and Loss/Business Unit Leader • Innovation/Strategy • Transformation/Modernization • All Industries/Global Source: Institute and Faculty of Actuaries

  7. Industry Disruptors Insurtech Gig Economy 4 6 2 1 3 7 8 5 Artificial Intelligence Internet of Things Comprehensive Demographics Fluid Work Environments Creation of New Roles Data Analytics

  8. Diversity and Inclusion • Inclusion has become a priority for many organizations. • Nearly 97%of companies have some sort of D&I strategy in place. Source: McKinsey & Company

  9. Emergence of the Gig Economy • The blended workforce is adding a new layer of diversity among employee groups.

  10. Rise of Insurtech • 2014: Overall Insurtech company investment was $500M. • 2018: Insurtech brought in $3.2B in revenue. Source: FinTech Global

  11. Actuarial Impact What are the top skills employers look for in their actuaries?

  12. Human Skills • Creativity • Persuasion • Collaboration • Adaptability • Time Management • Critical Thinking • Continuous Learning

  13. “ • Now is the time for authentic business leaders to step forward and lead in ways that business schools don't teach. “ Source: Forbes

  14. Leading in Uncertainty Vision V • The new workforce is becoming more complex. • Leaders must deal with more ambiguity in their decision-making. Understanding U Courage C Adaptability A Source: Forbes

  15. Communication Skills • Develop strong presentation and written communication skills. • Collaborate across business units. • Learn to translate complex information. • Be adaptable.

  16. Entrepreneurial Skills • Act like an entrepreneur. • Learn from your experiences. • Drive yourself to success.

  17. Best Practices How can you successfully navigate the evolving insurance reality?

  18. Embrace Networking • Have your 30-second introduction ready. • Always have business cardsready for networking. • Your intro should leave your contact with impactful “take-aways.”

  19. Invest in Personal Development • Embrace continuing education. • Attend insurance conferences. • Seek out actuarial-specific training. • Get involved with local networking groups.

  20. Manage Your Brand Stay active and connected on social media. Author industry articles and thought leadership. Participate in industry speakingopportunities.

  21. “ A mentor is someone who allows you to see the hope inside yourself. “ - Oprah Winfrey

  22. Margaret’s Mentor Advice • Be open to a mentor who does not look, act or think like you do. • Share wisdom and lessons. • Be brave and tell your personal stories.

  23. Reach Out and Volunteer • Find your non-professional interests. • Join like-minded people in the industry. • Participate regularly.

  24. “ Each of us can be an innovator. You don’t have to be the next Steve Jobs or Elon Musk. You just have to be willing to flex your innovative muscle. “ - Claudine Modlin, FCAS Head of Strategic Planning and Competitive IntelligenceFarmers Insurance

  25. Questions? Thank You! jcbsn.gr/JacobsonLI Margaret Resce Milkint Managing Partner The Jacobson Group mmilkint@jacobsononline.com + 1 (312) 884-0410 @jacobsongroup @jacobsoncareers jacobsononline.com

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