Insurance Recruitment Services Case Study

Client Challenge

Our client, a diversified, full-service insurance agency, initiated a large-scale insurance recruitment hiring initiative designed to boost its mortgage insurance business line. Typically, mortgage insurance was handled as an ‘upsell’ from property insurance transactions.  To create a ‘one stop shop’ for consumers, the client sought to hire up to 1,000 property insurance experts in more than 20 markets with the ability to create an integrated sales strategy.

Hire Velocity Solution: Passive Candidate Search

In partnership with the client, Hire Velocity developed an insurance recruitment strategy based on lists of property insurers in the public domain. From there, they put their recruiting engine to work, making contact with more than 25,000 individual property insurers in the Southwest and on the West Coast.  Candidates were pre-screened for qualifications, interest level, and availability.

Hire Velocity operated directly on behalf of the client, following a standardized methodology that enhanced professional contact with an extensive network of industry professionals.  Particular emphasis was placed on brand development and a positive candidate experience.

In addition to mass sourcing strategies, the solution also encompassed a streamlined communications plan with the corporate recruiting staff and customized interaction with the client’s Applicant Tracking System (ATS).

Results

From the initial pool of 25,000, Hire Velocity achieved a 90% response rate, and an interested candidate pool of 30%.  Passive candidate development was use to develop a pipeline of more than 7,000 qualified and interested passive candidates.  This was developed over a period of six months.  Ultimately, the client hired more than 550 individuals generated by Hire Velocity, achieving more than half of the total hiring demand.

Based on cost-benefit analysis and a cost per hire under $5,500, the client estimated that return on investment increased 40% as a result of using Hire Velocity’s insurance recruitment services.

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