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G. Naga Sridhar

OPPORTUNITIES GALORE

Hyderabad May 13 If you are in search of a job and possess good persuasive and analytical skills, the insurance industry is waiting for you.

Growing awareness about the need for insurance, expansion of insurance companies and the increasing use of the outsourcing model for insurance transactions are creating many opportunities for both skilled professionals and sales personnel, according to industry pundits.

"The demand for insurance professionals and sales personnel has increased nearly three times during the last three years," Mr G.N. Bhaskara Rao, Senior Faculty, Institute of Insurance and Risk Management (IIRM), told Business Line.

The increasing presence of private insurance companies, the focus on rural insurance business and spurt in management and insurance education are creating significant demand for manpower.

"Insurance experts are now being sought not only by insurance firms, but also by many banks," Mr Rao added.

Insurance advisors are in big demand especially in rural areas, according to Ms Hasitha Krishnan, Chief Executive Officer, Ma Foi Global Search Services Ltd. "All global insurance majors are keen on having joint ventures with Indian companies. The rural thrust in business strategies have to be driven by large manpower," she said over phone from Chennai.

Interestingly, there could be more jobs for locals. "The rural business models envisage involvement of locals so that they can convince people to go for insurance. We have created direct and indirect employment for 3,000 rural people in different parts of the country," Mr R.P. Singh, Head, Rural Business, Max New York Life Insurance, said.

At the top-end too, opportunities are aplenty. The booming financial services outsourcing industry employs insurance domain experts with high packages to settle insurance claims, and solve problems of clients in the US and Europe. There are opportunities for people with expertise in accounting, finance and insurance, according to Mr Pradeep Lankavalli, Vice-President (Shared Services), Thomson Corporation.

While there could be no problem in finding talent for sales positions, the expansion of the industry and the outsourcing of insurance solutions may create a paucity of domain experts.

"In fact, we predict that there would be talent wars in the insurance industry over the next three years," Ms Krishnan said.

More Stories on : Insurance | Human Resources

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