As the insurance industry braces for a wave of retirements, it’s facing a critical shortage of specialized talent in underwriting, claims, and technology. These highly skilled roles are projected to demand the greatest growth over the next 12 months, but it may go unmet as a shrinking candidate pool struggles to replace the decades of institutional knowledge leaving the workforce, according to The Jacobson Group and Aon, Q1 2025 Insurance Labor Market Survey. Even when carriers manage to attract qualified talent, retention isn’t guaranteed. Increasingly, young professionals are evaluating their employers based on the tools they’re given to succeed. Outdated, clunky policy admin systems not only slow down underwriting, but they send a message that the organization isn’t serious about investing in innovation or the employee experience. To stay competitive, carriers must rethink how they support underwriting teams — not just through hiring, but by modernizing the systems they rely on daily. The right internal systems can help preserve institutional knowledge, empower new talent, and turn this talent crisis into a strategic advantage. The Risk of Relying on Memory Imagine this: A tenured underwriter — someone who’s been with your organization for 25 years — retires. They leave behind some document history and an inbox full of transaction context, but they leave with an unwritten playbook in their head. Now imagine a new underwriter sitting down at that desk. Same job title, same system access… but none of the nuance. None of the “why” behind certain decisions, or the judgement that made complex submissions easier. This is happening across the industry and has real impact. When underwriting logic, risk rationale, and submission exceptions live outside your core system, you’re exposed. You might still get policies out the door, but at what cost? Inconsistent decisions that impact pricing and performance Risk data that means nothing without historical context Extended onboarding cycles that frustrate new hires Repeated mistakes because no one knew how to vet a submission thoroughly Most organizations don’t realize what they’ve lost until they try to replicate sound practices under pressure. 5 Ways to Use Tech to Capture Expertise and Build Loyalty Organizations can’t solve the talent crisis with hiring alone, and they can’t preserve knowledge with spreadsheets and handover meetings. What they can do is implement internal systems that support team members at every stage of the employee lifecycle. Here’s where to start: Codify what works. Capture underwriting logic, decision criteria, and exception pathways directly within your core system — not just in PDFs or emails. A modern core platform allows you to embed this intelligence into workflows and automate decision-making guardrails that reflect your most experienced people’s thinking. Design for faster onboarding. New underwriters shouldn’t have to learn the job by shadowing or stumbling through outdated interfaces. Systems with real-time dashboards, contextual help, and embedded guidance reduce ramp-up time and make new hires feel supported from day one. Make knowledge accessible and dynamic. When institutional knowledge is embedded, your teams move faster and more confidently. It also improves collaboration, reduces errors, and creates continuity when roles shift. Invest in better user experiences. Today’s employees want intuitive, efficient tools that help them do their work well. Improving day-to-day experiences by reducing friction, automating repetitive tasks, and giving users visibility into their impact helps drive satisfaction and retention, avoiding another talent crisis down the line. Build a foundation that evolves. A modern core system includes policy administration, billing, claims, analytics, and workflow automation in a unified, cloud-native platform. This ensures institutional insight is preserved across departments and that your tech grows with your people, not around them. As the workforce continues to shift, carriers that take a proactive approach to system modernization will be better positioned to attract, retain, and enable the next generation of insurance professionals. Learn more strategies for institutional knowledge, improving workforce satisfaction, and future-proofing your operations in our latest eBook, The Insurance Talent Crisis: A Race Against Time.