Talent gap a challenge for the re/insurances industry amid evolving global landscape: Toucan

The global insurance and reinsurance industry is facing a significant talent gap, a challenge exacerbated by outdated recruitment practices and, in some cases, a lack of understanding of specialised industry roles, Marco Silva and Lucian Chiroiu, co-founders of Toucan, shared with Reinsurance News in a recent interview.

Toucan, a UK registered recruiting company which specialises solely in the reinsurance industry, emphasises a bespoke, candidate-centric approach as key to bridging this gap and navigating emerging market trends.

“It needs to be a better journey for the candidate,” Silva noted and that certain work-centric online platforms contribute to this issue: “Currently in the reinsurance world, there is a broad brush approach to employment and I think platforms like LinkedIn do not help the process. Employment in our industry is bespoke as it’s quite a unique skillset to work in reinsurance the way employers search for candidates is not properly targeted.”

The co-founder also explained that the longevity of careers within the industry can create a bottleneck, limiting opportunities for younger professionals.

“Hierarchy can be a big thing in certain companies and those professionals who decide to stay on past retirement, should concentrate on mentoring younger professionals, allowing them to develop and evolve.

Additionally, many mainstream recruiters don’t want to concentrate on younger people because talent acquisition staff within reinsurance companies don’t want to pay fees for younger talent” said Silva.

The executive also highlighted the inefficiencies that come with many traditional hiring processes.

“Effectively, the senior underwriter or broker who sanctions the hire, ends up with 100 candidates’ CVs and they have to trawl through the whole lot, looking for one or two good CVs. This wouldn’t happen if the process was more directed and at Toucan, we only engage face-to-face with employers and potential candidates to make sure we find the right people within our talent pool. It saves time and is a more efficient process.”

He added that, while it might not be as burdensome for the talent acquisition specialist, the process often stops or pauses at the HR or the talent acquisition team within companies.

“When the process reaches HR or the talent acquisition team, it stops,” he said. “There are many reasons for this, and in many situations, they take too long. For example, six weeks or more for a contract, and the candidate feels unimportant and maybe moves to another company.”

The reliance on recruitment platforms, Silva believes, also leads to wasted resources. “Usually, talent acquisition teams just go to LinkedIn, where everyone’s got their hand up for a job. So, you get people that are not really interested or not really serious and you can waste an immense amount of time and money,” he stated.

In contrast, as a company, Toucan believes in a more personalised and effective methodology. Silva explained: “When we check in with our employed staff and we’re happy to say that in the year, year and a half in which we’ve been operating, both people and managers that we have set up are very happy. And I believe that is because we did the imperative groundwork at the beginning to say, ‘you know what, this person won’t fit your job or this person will fit your job’.”

Silva differentiates Toucan from a “production line” approach, emphasising their bespoke nature: “We want the candidate to enjoy the recruitment process. We act as an agent for the candidate, we have a smaller pool of people that we know that we can place in roles. Our general philosophy is getting to know the people and getting their trust.”

Chiroiu further elaborated on Toucan’s mission. He said: “Our mission is to be the candidates’ agent, representative. So, we talk to the companies on their behalf, to represent them and represent their best interests. If the job’s not for them, we tell them and continue to search for new opportunities for them”

“Another thing that makes us different is that we know exactly the requirements and scope of a specific role. This is because we still work on the front line and many times, recruiters tend to call candidates and don’t know much about them, about their previous roles, and they are calling them for positions that are completely not relevant to them, wasting everybody’s time. We’ve had it done to us in the past, so we know it happens.”

Regional differences in recruitment also present unique challenges. Chiroiu commented: “We are active in France, in Spain, in Switzerland, and the biggest difference, compared to London for example, is that outside London, HR can be even more complicated to deal with than in London and their style might be more old-fashioned compared to London.

“Also, competition is higher in London, therefore job packages are better. On the continent, there are less people working in reinsurance, and companies are less flexible with their offers. Talent and acquisition teams have less understanding of what reinsurance is, making the hiring process much more complicated and protracted.”

Looking ahead, Silva identified the Middle East as a growing region for the reinsurance industry. He said: “Another trend we might see over the next few years is the growth of the Middle East MGA sector. It’s a fantastic place to do business. It’s relatively easy to set up, because of the lack of red tape, and barriers to enter are less onerous. Also, the environment is great.

“Dubai & Bahrain are real hubs now and much of that area is tax-free so people can earn money and live a decent lifestyle. “I believe the Middle East presents a significant opportunity to trade business in Africa, Türkiye and other nations in the region, particularly considering their cultural similarities compared to those with Western European, America, or Far Eastern countries,” he concluded.

Silva predicts the Middle East will follow a similar path to China, a country whose reinsurance sector was not widely recognised a decade ago but now boasts some of the world’s largest insurance companies.

“At Toucan, we’re not just recruiters — we are advocates for both candidates and companies, dedicated to reshaping how talent connects with opportunity in the reinsurance industry. Our deep industry knowledge, bespoke candidate approach, and face-to-face commitment allow us to deliver meaningful results where others rely on volume,” the team stated.

Concluding: “In a sector as specialised and globally interconnected as reinsurance, we believe the human touch matters. That’s why we take the time to truly understand the people behind the CVs and the roles behind the job titles. Whether in London, Paris, Zurich, or Dubai, our approach remains the same: targeted, trusted, and tailored.

“As the industry evolves, so do we — staying on the front line of market trends, adapting across regions, and championing efficiency and integrity in everything we do.”