Concerns About Liberty Mutual's Approach to Underwriters' Retirement and Diversity Hiring

[Al3x Lee]

First, let me preface this post by saying this is specific to the Northwest Commercial P&C division of Liberty Mutual, as that is the branch of Liberty that I interact with.

A little over a year ago, Liberty Mutual encouraged many of its experienced underwriters to retire via a handsome severance package. This has led to a significant influx of young, diverse hires fresh out of college. While diversity and inclusion are undoubtedly important (And are part of my campaign platform), I am concerned about the manner in which this transition is taking place.

The sudden retirement of experienced underwriters raises a few issues. Experienced underwriters bring valuable knowledge, expertise, and a deep understanding of the insurance industry. Their years of service often result in making well-informed decisions and managing complex risks effectively.

Here are some concerns and questions that I would like to address:

• Knowledge Transfer: The abrupt departure of experienced underwriters may result in a loss of institutional knowledge that is vital for the smooth functioning of an insurance company. How is Liberty Mutual addressing the transfer of this knowledge to the new, less experienced hires? I find it concerning when I have to coach an underwriter on performing their job duties, as I am an agent, not an underwriter.

• Customer Service: With a less experienced underwriting team, there may be concerns about maintaining the high level of customer service and support that Liberty Mutual has been known for. What steps are being taken to ensure that customers do not experience a drop in the quality of service? I can count many instances where the service levels have dropped dramatically.

• Training and Mentorship: Are there robust training and mentorship programs in place to help the new hires quickly gain the skills and expertise required to excel in their roles? How will Liberty Mutual ensure they have the necessary support to make well-informed decisions? Especially considering that many talented underwriting and service staff have departed the company.

• Agent Morale: The sudden departure of experienced company staff can negatively impact partner agent morale. How is Liberty Mutual addressing this issue and ensuring that agents remain engaged during this transition?

• Diversity and Inclusion (essential): While diversity is important, it should ideally complement an existing pool of experienced professionals rather than replacing them entirely. Are there strategies in place to strike a balance between diversity hiring and retaining valuable experience? Also, is it necessary for someone named "Sarah" to have "She/her/hers" in her email signature?

Liberty Mutual should communicate its plans and strategies clearly with its agents. We must value the importance of experienced professionals in maintaining the integrity and stability of our industry, both of which are on a slippery slope.

If Liberty seeks to emulate Progressive & Berkshire Hathaway, they are succeeding in that regard.

What are your thoughts on this situation? Do you share the concerns that I've raised, or have your interactions with this carrier gone swimmingly?

Let's keep the conversation respectful and constructive as we discuss these important issues.

Best regards

 

[Newby]

If my insurance was making business decisions based on race, gender, age, or sexual orentation I would be looking for a new one. Disgusting move.

 

[Markthebroker]

I think all businesses should be looking for the best people. That's the best way to do it. Whoever that person is, gay, straight, man, woman, short, tall, black, white, whatever.

If we start prioritizing jobs by who we feel is more oppressed, that's exactly how the Nazis got started. Don't believe me? Guess what else the Nazis believed in? Socialism. Led by a charismatic animal lover who later became a vegetarian.