Capacity Management is Carriers’ Secret Weapon

It’s no secret that the insurance industry is ever evolving. Talent dynamics and customer expectations are changing, and advancing technology continues to reshape roles. While these changes have been afoot for many years, the pandemic was certainly an accelerator. Now, three years later, many carrier leaders continue to navigate these new dynamics and are finding that their former approaches to managing staff, assessing capacity, and driving productivity are insufficient.

Unsurprisingly, one of the biggest shifts resulting from the pandemic is the rise of hybrid/remote work. While the insurance industry has always been a leader in this space, it is now overwhelmingly the norm. In a recent ReSource Pro survey of carrier executives, 95% indicated their workforce was either hybrid or fully remote. Furthermore, the vast majority said their company’s productivity had either increased (84%) or stayed the same (8%) in the past three years. But the notion that productivity is increasing raises an important question. How are executives reaching this conclusion?

Our research shows that many leaders rely on qualitative assessments such as gut instinct and manager observations rather than true data-driven analysis. They ”think” their teams are more productive, but they don’t ”know” this. The same can be said for how most carriers are approaching workforce planning. So, what’s the alternative? Harnessing the benefits of capacity management.

Being able to reliably assess the workload capacity for each role in your organization is instrumental to staff planning. The process starts with identifying the business drivers of each role and the key activities (and associated time) of each driver. Armed with these insights, you can establish a capacity baseline for the average employee in each role. And this is only the beginning. Implementing capacity management provides numerous benefits to carriers, including:   

  1. Valuable insights into your current operations, including business activities, processes, bottlenecks, etc.
  2. A baseline from which you can assess your current capacity and productivity.
  3. The ability to confidently plan future staffing needs and assess ”if/then” scenarios. As an example of the latter, what would be the impact of implementing a new core system on our staff capacity in the near and long term?
  4. Roles and responsibilities that have been clearly defined in terms of business and non-business activities, including items such as projects, meetings, employee training, PTO, etc.
  5. Insights that empower managers to maximize their team’s efficiency and effectiveness.  

Lastly, proactive capacity management can also benefit your customers. As an industry, providing an exemplary customer experience is central to what we do. In the face of changing workforce dynamics and shifting customer expectations, ensuring your teams have the resources and capacity to succeed cannot be left up to chance. By utilizing tools such as capacity management, you can proactively and confidently navigate the challenges and changes that lie ahead.   


Want to learn more? Check out ReSource Pro’s recently published talent research: “A New Era of Carrier Staffing and Productivity Management: How To Create Win-Win Strategies in 2024 and Beyond.” Be sure to visit our Capacity Modeling page to explore how we help insurance organizations grow, optimize, and transform.