One of the things I used to enjoy about this place is job security. Sadly, I don't think we have it anymore and I don't think anybody is safe from future RIFs. But I'm not sure where to look for another job? Everybody seems to be laying off. Might be just the pandemic, or it might be this industry, I can't tell. Is there a safe alternative out there?
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My department has a meeting tomorrow morning and its very vague- no reason for it provided. All upper management is on it as well. Im concerned it could be reorg/layoffs. I dread the meeting.
I think there will good opportunities on the technology side of insurance for perhaps up to the next 10-15 years. I think it is generally much more complicated to run than banks on the sales and claims side- perhaps similar on the finance side. That said, once we cycle into the majority of cars having accident avoidance technology (maybe close to 10 yrs from now) and much better technology on the claims side, I think the number of opportunities will dramatically shrink. I think the less insurance we need, the better things are for society, but we're easily over a decade away from that.
My guess is that they will try to Uberize much of what we do. Why employ us when you can contract us out when needed. I think the pandemic will lead to a dramatic increase in work from home which will eventually lead to contract only work for a large number of roles in insurance.
There are some good, smaller companies out there. They can be good jobs, but then those companies generally get bouught out by the big boys and then you are on the job hunt for a while.
Approx 3k people took the early retirement deal. That will leave a lot of empty desk w/ lot of work to do. I think we're relatively safe for perhaps 2 years.