An ageing industry

The UK Life and Pensions industry faces an Intellectual Property (IP) brain drain as many of its insurance company ‘lifers’ – back-office and middle-management employees who have been in the industry for 20-30 years – approach retirement. These employees are the backbone of the company and can be found in underwriting, claims and IT functions. Often they represent a handful of people who have had direct experience or knowledge of a rare case or unusual set of circumstances. The problem is mirrored in the Independent Financial Adviser community. As pointed out by David Heeney of Pacific L...