What Are the Latest Trends in Insurance Training?

June 03, 2024 in

The insurance industry is constantly evolving because of different customer demands, technological advancements, and the competitive market. To keep up with these changes, insurance companies highlight the importance of training and development for their employees. Let’s check out what are the latest trends in insurance training.

What Are the Latest Trends in Insurance Training?

If you are looking for insurance trainer jobs, you need to know the latest trends in insurance training.

Technology integration

One of the biggest trends in insurance training lately is the increased insurance technology integration. Insurance companies use many digital tools and platforms to develop effective and engaging training programs. Digital insurance programs include:

eLearning modules

Insurance companies create interactive eLearning courses that employees can access on-demand. These modules have different topics, like compliance, product knowledge, and soft skills. The best is that eLearning offers a flexible learning experience.

Virtual classrooms

Virtual classrooms replaced the in-person training sessions. So, trainees or employees can log in remotely and attend training sessions conducted by an instructor. These virtual classrooms have many functions, like breakout rooms, slide and video presentations, chat, etc.

What Are the Latest Trends in Insurance Training
Source: shutterstock.com/ Photo Contributor: fizkes

Mobile learning

In this technological era, insurance companies invest in mobile learning. This concept means accessing training materials and different support resources anytime.

Personalized learning paths

Every trainee has unique learning styles, strengths, and weaknesses. That is why insurance companies created personalized learning paths. This process begins with conducting skills assessments to identify employees' knowledge gaps and provide the necessary training.

Moreover, with the help of artificial intelligence and data analytics, insurance companies evaluate employee performance and provide tailored training. This method allows employees to focus on areas where they need improvement, resulting in efficient training. Tailored programs involve personalized content and assessments and individual progress tracking.

Personalized learning paths increase the effectiveness of the training programs that insurance companies create, allowing employees to get the necessary skills and knowledge to be successful in their roles.

Finally, these tailored learning paths increase the impact of the training.

Mobile learning and microlearning

As mentioned earlier, mobile learning is a growing trend. It allows trainees and employees to follow whole courses on their smartphones. But, besides that, microlearning is one of the trends shaping the future of insurance training. It involves breaking down the content into concise information. It was invented because the traditional, long training sessions overwhelm insurance professionals.

The goal of microlearning is to create modules that are easily understandable. Trainees can access these materials anytime. Microlearning is organized into videos, interactive exercises, and quizzes. The best thing about this method is that knowledge remains for a long time. Insurance companies also encourage employees to stay up-to-date with industry trends.

Compliance training and regulatory updates

Insurance compliance is the process of following an operation's legal, regulatory, and ethical requirements. Compliance training educates trainees on the industry's laws or regulations.

Compliance and regulatory requirements change all the time. As an insurance professional, you should stay updated all the time to avoid fines and damaged reputations. That is why insurance companies pay attention to compliance training. They create broad training programs about relevant laws, regulations, and policies. The goal of the training is to make sure employees understand compliance, so they can apply the rules in their jobs.

Besides the initial compliance training, insurance companies may organize ongoing training about regulatory changes. The point of this training is for insurance agents to work in accordance with the law.

Compliance Training and Regulatory Updates
Source: shutterstock.com / Photo Contributor: Matej Kastelic

Soft skills development

Among the emerging trends in insurance industry is the development of soft skills. While technical knowledge is important, soft skills are too. Customers have high expectations and they appreciate good communication and strong interpersonal skills.

These are the most important soft skills:

  • Active listening – As an insurance agent, you should show empathy and emotional intelligence.
  • Communication – Insurance agents wear multiple hats and communicate constantly. Part of the communication skills is also the ability to work in a team.
  • Customer service – Good customer service involves listening, helping people, and finding solutions to problems quickly. It also means spending a lot of time and effort explaining policies to clients until they understand them. One goal of customer service is to make customers trust you.
  • Patience and persistence – Agents working in sales know that these characteristics are very important. While some clients know what they need and only go to buy the specific product or service, others need convincing. Some clients know which insurance policy is right for them, but do not know if this is the right time to buy it. This is when you need to be patient.
  • Quick learning – Since policies, regulations, and costs change often, an agent should be a fast learner to be successful.

Remote and hybrid training models

The COVID-19 pandemic encouraged remote and hybrid insurance training. The shift is positive since many insurance agencies still have sectors that work remotely or hybrid. These training models offer more flexibility and cost-effectiveness than traditional in-person training.

Remote or hybrid training models offer eLearning modules, interactive simulations, and concise lessons. Hybrid models combine in-person and online training sessions. So, an insurance agent can have face-to-face learning sessions, but also access to online modules.

Continuous feedback and assessment

Businesses seek to improve employee performance, and they find continuous feedback beneficial. That is why insurance companies pay a lot of attention to continuous feedback and assessment nowadays. Continuous feedback is a human resource strategy that inspires regular feedback exchange between managers and employees.

Some of the benefits of continuous feedback are:

  • Motivating employee growth – Feedback makes the conversation about growth and development among managers and employees easier.
  • Improving employee engagement – Conversations about progress and development enhance employee engagement. This leads to increased productivity and profitability.
  • Leading to stronger relationships – Giving and receiving make people vulnerable. From a psychological point of view, this vulnerability also inspires psychological safety and makes people closer.

Continuous Feedback and Assessment
Source: shutterstock.com/ Photo Contributor: fizkes

Find an Insurance Job Position With Afni

Exploring what are the latest trends in insurance training reveals a shift towards personalized and digital learning experiences. Nowadays, insurance agents are trained with the help of technology. For instance, you can learn from e-modules, virtual classrooms, etc.

One of the latest technology trends in insurance agent training is microlearning and mobile learning. All training sessions and materials are accessible through your smartphone, and the material is divided into short, concise sessions. There are also remote and hybrid training models.

The best is that many insurance companies offer personalized learning paths that focus on your individual case. For example, if you have difficulties learning certain topics, you will get help in that area.

Insurance companies also pay attention to compliance training and regulatory updates and provide continuous feedback. Soft skills are important and included in your insurance training as well.

With companies like Afni, you can start your job training informed and ready to work!

About the Author

Samantha is the Recruitment Marketing Manager for Afni and brings a wealth of knowledge and tips for job seekers. She holds a bachelor's degree in public relations and marketing from Mount Saint Vincent University as well as a masters degree in digital marketing and advertising from Liberty University.