Insurance industry demand for talent in areas such as big data will likely “exceed available supply by a factor of four,” according to a new blog posting from McKinsey & Company.

That reality underscores why insurers hoping to modernize their information technology systems and make a successful digital transformation must place a high priority on technological literacy when they hire new employees.

“The resulting talent shortage means that leaders are responsible for establishing an environment that attracts talent, promotes personal growth, and offers a desirable and interconnected work environment and flexibility,” the Feb. 23, 2018 McKinsey & Co. post argues. “Digital leaders in the insurance sector, having prioritized technical literacy and infused areas like engineering, design and agile with more talent, better understand the investments and trade-offs required in the digital age.”

Insurers that take this path will win, in part, through prioritizing tech recruiting and retention, McKinsey & Co. said. Other steps are also key, the posting adds, such as redefining and upgrading the human resources officer role to be more savvy to recruiting employees with high technological literacy.

Click here for the full McKinsey & Co. blog posting: “How insurers can get the most out of a digital transformation in 2018.”