The insurance industry is facing a possible talent crisis with more than 400,000 positions to fill by 2020. With more than 30% of its experienced workers retiring this year, the need to replace them with quality, well screened applicants is a must.
Hiring new employees is a complex task. You need to invest a lot of time to find and hire someone who has the skills, integrity and character to keep your insurance business competitive. It is important to note that in the financial services industry, an estimated 73% of applicants lie on their resumes.
Considering the personal information that insurance company’s process daily, it is imperative that insurance businesses screen job applicants properly. To ensure you are hiring the best candidates, you should take advantage of background screening for insurance companies.
Here are some practical reasons why background screening should be an important part of hiring new employees for your insurance business:
Verifying the identity of potential employees
This allows you to confirm your potential employee’s name, social security number, citizenship, and legal right to work in the U.S. You can also use your applicant’s information to conduct further checks such as criminal history, sex offender registry, credit score, etc.
Checking an applicants’ government-issued licenses
A pre-employment background check can let you know if your applicant is licensed for the position they are applying for.
Verifying an applicant’s motor vehicle record
An applicant background check includes finding out whether your candidate has been involved in any vehicular accidents, or if they have had any DUI’s in the past. Note that this check is necessary for positions that require an employee to drive company-owned vehicles.
Checking an applicant’s credit history
This check is intended to help you know if your applicant is financially responsible. This is important for positions that require an employee to handle or manage finances or company funds.
A pre-employment background check is an indispensable aspect of the hiring process, especially in the insurance industry. As an answer to the imminent talent crisis in the insurance industry, you should work with a trusted provider of background screening for insurance companies like Edge Information. They provides you a practical way to help ensure that you are hiring employees that will become a valuable asset to your company! Visit: www.bit.ly/EDGE-DEMO to schedule a demo of our cutting-edge background screening portal.