IASA AND PLANTE MORAN RELEASE JOINT INSURANCE BENCHMARKING REPORT

SUMMERFIELD, NORTH CAROLINA, UNITED STATES, September 16, 2021 /EINPresswire.com/ -- IASA and one of the nation’s top business advisory firms, Plante Moran, recently released, “2021 Insurance Benchmarking Report” – a nationwide insurance carrier benchmarking survey. The survey landscape covers forward-looking sentiments regarding succession planning, cybersecurity, staffing models, corporate culture, diversity and inclusion, the “workplace of the future,” and other compelling and pertinent topics facing the insurance market.

Key to the value of this primary research project for our members is the ability for IASA member firms to determine how they stack up with peers and competitor organizations. For example, one finding that stands out in the research related to succession planning demonstrates that “83% of respondents recently experienced or are anticipating a key leadership departure within the next five years” (Plante Moran and IASA, 2021). However, “15% of respondent organizations don’t have any process in place to identify successors for key positions” (Plante Moran and IASA, 2021). This type of intelligence informs our member firms and their leaders as to how they can be more competitive in the marketplace, as well as with recruitment and business sustainability efforts.

Similarly, one of the greatest areas of concerns for the insurance industry and IASA members is cybersecurity. However, the research discovered interesting and concerning data around insurance firm cybersecurity preparedness. In fact, “30% of respondents don’t have a dedicated CISO or senior-level executive responsible for their organization’s information and data security.” Not only does this indicate a critical gap in staffing experience and skillset across the industry, it also illustrates an interesting dichotomy within an industry whose entire premise is based on risk mitigation and one that is characterized as risk averse.

“Understanding the future trajectory of the insurance industry, including ancillary markets, as well as the issues facing and shaping the industry, is at the core of IASA’s mission,” stated Kerry Crockett, MBA, CAE, CMP, DES, CEO of IASA. “As a member-focused organization, it’s critical for us to be forward-thinking in our approach to shaping the industry and supporting our members, as they navigate future conditions. Engaging in thought leadership opportunities, including conducting primary research with industry leaders like Plante Moran, is vital to this understanding and helping us all prepare for what the future holds.”

Ultimately, the findings within the survey will be valuable for IASA to drive future services, solutions, programming, and content for our members in support of their professional and career development efforts and IASA’s mission to be the industry’s preeminent knowledge resource for the insurance, accounting, systems, technology, finance, and actuarial industries.

The complete survey findings can be downloaded at plantemoran.com/insurancesurvey.

About Plante Moran
Plante Moran is among the nation's largest audit, tax, consulting and wealth management firms and provides a full line of services to organizations in the following industries: manufacturing and distribution, financial institutions, service, health care, private equity, public sector and real estate and construction. Plante Moran has a staff of more than 3,200 professionals throughout Colorado, Illinois, Michigan and Ohio with international offices in Shanghai, China; Monterrey, Mexico; Mumbai, India; and Tokyo, Japan. Plante Moran has been recognized by a number of organizations, including FORTUNE magazine, as one of the country's best places to work. For more information, visit plantemoran.com.

About IASA
For almost 100 years, IASA -- a non-profit 501(c)(3) -- has served as the trusted source for knowledge and innovation that guides the community of insurance professionals. IASA fosters an environment of selfless engagement, inclusivity, and conviction, advancing careers and personal growth for its members and constituents. It produces the best education and learning opportunities in an open and sharing environment through exceptional leadership that promotes excellence, collaboration, innovation, and community engagement. Its community roots, consisting of thousands of members and insurance constituents, in addition to 24 national chapters, runs deep with a mission to accelerate professional growth to shape, influence, elevate and strengthen the insurance industry. Its vision is to be the definitive source of trusted knowledge, credible collaboration, and common business interests, that drives future industry innovation through the practice and alliance of insurance professionals. To find out more about IASA, visit the website at www.iasa.org.

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