Mendota Insurance, a leading provider of specialized insurance solutions, has reported significant efficiency gains as a result of a collaboration with Edge, the global hiring platform, during a critical growth phase.

As a result of the partnership, Mendota has seen exceptional results, including a 71% leap in task efficiency, a 20% reduction in time spent on recruitment, and 53% savings on overheads.

Mendota turned to Edge as a result of pressing growth and scaling challenges that the business faced. There was a need to urgently expand and strengthen the administrative team to accommodate the surging demands of the growing business operations. Compounding this challenge was the difficulty of sourcing dependable and skilled personnel from the local talent pool.

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, it is expected another 25 will join through the platform by end of Q3 2024. The collaboration has streamlined Mendota’s recruitment process, and supplied a pool of high-quality candidates. Without this partnership, Mendota would have faced the prospect of slowing down business operations and growth due to staffing capacity.

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% year on year. With an aging workforce, and up to 50% of insurance employees projected to enter retirement by 2028, the labor market only looks set to become more competitive, meaning that businesses will need to consider new ways to fill vacant positions.

Edge provides 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 the skills gap that exists with 1.5 million fewer Americans participating in the labor force. With less than a quarter of entry-level roles, and only 8% or senior and executive positions filled with racially and ethnically diverse professionals according to Deloitte, Edge can also support businesses as they rethink building their workforce with diversity, equity and inclusion.

Edge’s 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. 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.

 

Walter Dix, Senior Vice President of Mendota Insurance, said: “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. Edge has allowed us to quickly add and scale capable employees who have contributed significantly to our business”.

 

Iffi Wahla, CEO and co-founder of Edge, said: “With insurers facing increasing shortages in expertise as they look to grow their teams, businesses are having to reassess their recruitment policies. 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. 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.”