Mendota Insurance Increases Hiring Efficiency with Edge

The insurer saw a 71 percent increase in efficiency rise by following its engagement with global hiring platform Edge to support employee recruitment during a period of growth.

(Image source: Edge website.)

Mendota Insurance (Nashville, Tennessee, a wholly-owned subsidiary of Premier Holdings Inc., a provider of specialized insurance solutions, has reported significant efficiency gains as a result of an engagement with Edge, a global hiring platform based in Mountain View, Calif., during a critical growth phase. As a result of the partnership, Mendota has enjoyed a 71 percent leap in task efficiency, a 20 percent reduction in time spent on recruitment, and 53 percent savings on overheads, according to a joint statement.

Mendota turned to Edge in response to growth and scaling challenges compounded by the difficulty of sourcing skilled personnel from the local talent pool, the statement says. With the use of Edge’s hiring platform, Mendota has successfully recruited a team to fill key administrative roles such as CSRs, auditors and claims specialists. With 42 already onboarded, Mendota expects another 25 will join through the platform by end of Q3 2024. The engagement has streamlined Mendota’s recruitment process and supplied a pool of high-quality candidates. Without this partnership, the statement says, Mendota would have faced the prospect of slowing down business operations and growth due to staffing capacity.

Mendota’s predicament is far from rare. The insurance industry is facing a challenging recruiting period, with almost half of companies citing greater difficulty in hiring now, according to a recent labor market study. In 2022 alone, the number of insurance industry vacancies increased by 74 percent year on year. With an aging workforce, and up to 50 percent of insurance employees projected to enter retirement by 2028, the labor market is likely to become more competitive, meaning that businesses will need to consider new ways to fill vacant positions.

Edge describes its platform as providing scalable, affordable and adaptable HR solutions that seamlessly connect exceptional talent from all over the world with businesses that need them, providing access to a broader talent pool, and addressing a skills gap caused by 1.5 million fewer Americans participating in the labor force.

Edge says its platform allows businesses such as Mendota Insurance to automate screening processes, implementing AI tools for efficient resume screening to ensure a fair and timely initial selection. The vendor adds that it also ensures enhanced candidate matching, using machine learning to match candidates with job vacancies based on skills and experiences. It also enables the streamlining of onboarding, with new hires able to complete any paperwork and training online, and training able to be tailored to the specific skills and knowledge gaps of employees.

“Without Edge, we would have had to slow down our growth in a critical phase, because we wouldn’t have had the infrastructure to support it,” comments Walter Dix, SVP, Mendota Insurance. “Edge has allowed us to quickly add and scale capable employees who have contributed significantly to our business”.

Unprecedented Pool of Talent

Iffi Wahla, Co-Founder and CEO, Edge.

“With insurers facing increasing shortages in expertise as they look to grow their teams, businesses are having to reassess their recruitment policies,” comments Iffi Wahla, co-founder and CEO, Edge. “As technology continues to reshape the sector, insurers also face the challenge of finding professionals with a blend of traditional insurance knowledge and awareness in emerging technologies. Now that tech enabled remote and flexible working has opened the door to the creation of global virtual workforces for companies of any size, the insurance industry can access an unprecedented pool of talent with the evolving skill sets they need.

“Our work with Mendota Insurance is a great example of how better recruitment tech can help insurance providers to operate more efficiently and effectively, supporting their growth trajectory,” Wahla adds. “We are delighted to have been able to support Mendota bridge the skills gap they were facing, allowing them to stay competitive in a rapidly transforming industry.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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