How Phased Retirees Offer Immediate Value in Claims, Underwriting, and Compliance Roles

The insurance industry is undergoing a workforce transformation. Amid rapid regulatory changes, rising customer expectations, and the increasing complexity of risks, firms are simultaneously grappling with a growing talent shortage. Whether in underwriting, claims management, or compliance, insurance companies are finding it increasingly difficult to fill roles with qualified professionals.

This shortage is not just an HR challenge—it is a business risk. Delayed claims, underwriting errors, and regulatory oversights can result in customer dissatisfaction, financial loss, and reputational damage.

What is often overlooked in this equation is a highly capable, immediately available solution: retired insurance professionals. Many of these seasoned experts are seeking flexible, remote opportunities to remain engaged in the industry—offering a depth of knowledge and experience that is becoming harder to find.

A Structural Workforce Shift

Canada’s insurance sector is not immune to the demographic changes affecting the broader labour market. According to the Insurance Institute of Canada, nearly 27% of the industry’s workforce is aged 55 and older, and almost 25,000 employees are expected to retire by 2027. This means that a significant portion of institutional knowledge and technical expertise is on the verge of exiting the workforce.

At the same time, many younger professionals entering the industry lack the experience required for high-risk or specialized roles. This generational gap is particularly evident in mid- to senior-level positions—where hiring often takes months, onboarding is time-intensive, and internal knowledge transfer is limited.

Firms that fail to plan for this shift risk being understaffed in mission-critical functions.

Why Retired Professionals Are an Asset, Not an Afterthought

Retired insurance professionals offer more than just “extra hands.” They are high-value contributors who understand the operational, regulatory, and customer nuances of the industry. Many have decades of experience across multiple product lines and roles—including leadership, compliance, brokerage, and specialty underwriting.

Here is what makes them uniquely valuable:

• Minimal Training Required: These individuals already understand industry terminology, policy language, and internal systems, reducing the time and cost of onboarding.
• High-Level Decision-Making Skills: With experience handling complex cases and portfolios, they are well-suited for high-stakes or time-sensitive assignments.
• Knowledge Retention: They serve as a bridge between generations—offering mentorship while preserving institutional memory that might otherwise be lost.

Through WAHVE’s vetting and placement model, these professionals are matched with companies that need precisely the kind of support they are equipped to provide—remotely, efficiently, and with flexibility.

Three Functions Where Retired Professionals Provide Immediate Impact

1. Claims Management

The claims function is facing increasing pressure from both rising volumes and growing complexity—especially in commercial, auto, and climate-related lines. A backlog of unresolved claims can harm client satisfaction and lead to legal exposure.

Experienced claims professionals can step in to:

• Clear aging or complex claim files.
• Manage surge periods (e.g., after catastrophic weather events).
• Provide quality assurance reviews to ensure claim settlement accuracy.

They bring a well-honed judgment that cannot be taught in training alone—often helping reduce claim cycle times and improve outcomes for both the insurer and the insured.

2. Underwriting

Underwriting, particularly for mid-market and specialized lines, requires not only technical skill but also the ability to assess risk trends and portfolio performance. Many firms are struggling to maintain underwriting discipline due to understaffing or the loss of senior team members.

Retired underwriters can:

• Underwrite complex or legacy portfolios where experience is essential.
• Handle renewals and midterm adjustments during peak periods.
• Assist in refining underwriting guidelines and models based on real-world insights.

Their ability to assess nuanced risk variables and spot red flags in submissions makes them a valuable resource for maintaining both profitability and compliance.

3. Compliance and Regulatory Affairs

With the growing complexity of regulatory requirements—particularly around consumer disclosures, privacy, and anti-money laundering—compliance has become one of the fastest-growing job functions in insurance. However, many firms struggle to find compliance officers with practical, frontline experience.

Phased retirees with backgrounds in compliance, auditing, or regulatory affairs can:

• Assist with internal reviews or mock audits.
• Update policies and procedures to align with evolving provincial and federal standards.
• Provide oversight during transitional periods, such as mergers or system changes.

They offer a risk-mitigation layer that is especially critical for smaller firms or brokerages with lean compliance teams.

A Talent Strategy That Reflects Today’s Reality

Many insurance organizations still rely on conventional hiring strategies—seeking full-time, in-office employees for roles that do not always require them. Meanwhile, a capable, flexible, and eager talent pool is being overlooked.

Phased retirees are not a stopgap. They are a strategic resource for firms that need to scale quickly, address operational bottlenecks, or maintain service excellence without expanding full-time headcount.

By integrating phased retirees into the workforce, companies can:

• Preserve operational continuity during turnover or growth.
• Accelerate the onboarding of junior staff through mentorship.
• Expand capacity without long-term commitments.

Conclusion: Bridging the Gap with Purpose-Driven Professionals

As the insurance industry continues to evolve, the firms that succeed will be those that take a proactive approach to workforce planning—balancing new talent with the invaluable experience of those who came before.

At WAHVE, we specialize in bridging this gap. We match experienced, retirement-ready insurance professionals with organizations that need their skills, insight, and stability. Whether you are facing a talent shortage, preparing for a leadership transition, or simply want to strengthen your team—these professionals are the missing piece you did not know you needed.