Who is THE ENEMY WITHIN?
“He” has no one name, no essential gender.
What “he” has is the incredibly untimely capacity to rapaciously rob your company of its future…and compelling evidence suggests this is indeed what is coming to pass across the global life and health industry.
There was a posting recently at lifeunderwriting.com wherein the underwriter bemoaned the fact that his company would not fund his enrollment, and that of his peers in the department, in the State of the Art™ Continuing Education Program.
This is a classic case of missing the forest for the trees, as they say. And not just because it happens to focus on the education program into which I and my colleagues at SelectX-UK have invested so much of our energy and devotion.
“…every dollar spent on training and development per employee results in an increase of $168 in revenue per employee.”
Jennifer C. Rankin
LOMA Resource magazine
The issue of underwriter education has had a renaissance of sorts since the tedious years of the 1990s. Over that interval, this subject was all but anathema, given the priorities and realities of those times.
An insidious crisis is quietly jeopardizing the future of life and health insurance.
We are permitting ourselves to "dumb down" as regards prowess and savvy in the art and science of risk selection.
On visible aspect of this has been intensive cost-cutting efforts of recent vintage. CFOs have been quick to cut "non-essential" travel, as well as spending for educational purposes. While everyone appreciates the need for prudent spending, these well-intentioned individuals are simply "picking off the low-hanging fruit." By doing so, they are unwittingly closing off essential avenues to maintaining technical proficiency. Sacrificing access to vital knowledge in these times of great and rapid change is the quintessence of penny-wise/pound-foolish thinking.