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SMA's Insurance Transformation, Where Strategy Meets Action

Karen Furtado

Impact Of The Influx Of Older Workers In Insurance - What Are We To Plan For Next?

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There has been so much written and discussed over the past two years about the aging workforce. The knowledge workers that will be leaving companies in droves being replaced by less experienced workers or even worse - no one to take these positions as the new workforce is not interested in these jobs.

Well - what are companies to do with the dramatic changes brought on with the economic crises? Several workers who were retiring have to push off their plans until they can rebuild those portfolios to the level to retire.

Now that we have changed systems to accommodate the "younger" worker what systems need to be in place for the aging worker - I expect very different systems. What other financial impacts will this have to companies - the cost of salary, benefits and later retirement programs that are needed to support the older worker. All companies will need to significantly look at the plans they have in flight and determine how they will move forward with a very different looking workforce than what was planned a year ago.

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Unfortunately I don't think many companies right now are making any plans for the older workers.

The purpose of the SMA blog is create a dialogue around insurance transformation; launching a different perspective on linkage between strategy, process and technology choices and shifting the mindset from a technology driven approach with SOA & BPM to a business driven service-oriented thinking that creates agile and flexible new insurance business models. Look for a wide gambit of trends, research, case studies, and insights on making transformation a reality.

Deb Smallwood

"I grew up in the insurance industry and have experienced the shackles that ineffective business processes with misaligned monolithic technology solutions have placed on insurance companies...

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Karen Furtado

Karen Furtado brings a wealth of industry knowledge to SMA. She spent 25 years at CGI, focused in insurance. Her specific areas of expertise include product development, complex system implementations, vendor selection processes, project management and business and IT outsourcing services. Her passion is working with both technology providers and carriers to deliver high-value solutions for core issues facing the industry. Karen actively participates as an industry speaker.

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