The insurance industry faces critical challenges that are reshaping the industry and dramatically transforming how organizations work in the sector. From automation and technological advances to new generations entering the workforce, insurers are navigating significant changes as they seek to adapt and advance their businesses.
With a shortage of insurance professionals, there is a focus to attract and retain new and tenured employees. Every day, nearly 10,000 baby boomers retire in the United States. Of those retiring, 25% are expected to be insurance professionals. To add to this workforce challenge, just 4% of millenials expressed a desire to work in the insurance sector.
At Talespin, we view immersive technology as the solution that will help insurers embrace these changes and transform their workforce practices to deliver the best possible customer and employee experiences. We’ve spent the past 5 years working with leading insurers and SMEs to develop XR (virtual, augmented, and mixed reality) workforce solutions specifically designed for insurers.
“The insurance industry has always placed a premium on having great people; insurance is built on trust - the promise to pay future claims when calamity strikes. As the industry continues to modernize in the digital age, successful companies will be those that address the scarcity of human capital and successfully conduct talent transformations.”
Insurance Training Outcomes Using Immersive Learning
Insurance training using Talespin platform is proven to deliver better learning outcomes that other forms of training can’t compete with:
Faster to train than in the classroom
more confident to act on what they learned after training
More emotionally connected to training content than classroom learners
More focused than their e-learning peers
Immersive learning content’s ability to teach people skills faster with longer knowledge retention helps insurance professionals maximize training time and upskill as their roles change.
Insurance claim representatives deal with clients in situations that are hard to manage and deal with, and having the confidence to approach these topics in times of distress are crucial. Practicing skills through immersive learning is proven to increase confidence when acting on learned subject matter in the field.
Insurance professionals need emotionally realistic training to prepare for the challenging situations they face on a regular basis. Immersive learning’s ability to simulate scenarios through virtual human role play helps people practice these situations in simulations that feel real.
See Skill Development In real time
Personalize training for your workforce based on real-time skills data, filling skill gaps to help learners in their journey of meeting the demands the insurance sector faces in the future of work.
Better remote learning
With large portions of training moved to virtual modalities, virtual role play powered by immersive technology creates more engaging, realistic, and scalable training programs than video conferencing or e-learning solutions.
Measured skills improvement
Not only is immersive learning delivering an average of more than 20% improvement for skills practiced, it also offers a more tangible way to score and measure skills over time. This helps learners pinpoint areas for improvement and track skill progression.
Use Cases for Immersive Insurance Training
Immersive learning can be applied across insurance training use cases, giving learners access an infinite number of realistic roleplay scenarios:
Leadership & Communication
Communication of policy
Insured conversation about litigation
First notice of loss
automative property damage
Mutual understanding with medical teams
Apply facts to loss of coverage
The Insurance Industry’s First Off-the-Shelf VR Learning Modules
The learner is presented with core residential building components and materials, and performs identification and recall tasks to develop their understanding.
The Talespin platform offers easy-to-adopt off-the-shelf learning content for common communication skill use cases, the ability to create custom role play simulations at scale, and skills data analytics to measure and track skills development.
Talespin’s no-code authoring tool CoPilot Designer enables organizations to create custom virtual human roleplay scenarios for any communication use case. Immersive soft skills content can be created faster and easier, and updated over time as learning programs evolve.
The Talespin platform’s Dashboard offers skills analytics that enable learners to see their skills development in real time, and organizations to track their learning and development programs at scale.
Talespin’s off-the-shelf content library provides learners with easily accessible immersive learning experiences to practice key skills in areas like difficult conversations, empathy training, and communication.