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Swiss Re Global Business Solutions Centre Bengaluru, plans to ramp up its headcount to 1,500 with 400 new hires by 2021.
The Bengaluru Centre is Swiss Re’s first business solutions centre established in 2001 as a shared services centre for technical accounting, claims and specific operations for a particular region. Since then, it has evolved into a global business solutions centre that cuts across the entire value chain of reinsurance including underwriting, actuarial, risk management, natural catastrophic modelling, economic research, technology and finance.
It is Swiss Re’s third largest office by headcount among its 80 offices globally and one of the three global centres that partner with business functions to deliver on the Swiss Re strategy.
“Today, we are a 1,100 strong team. We plan to hire 300-400 insurance professionals and grow to 1400-1500 by 2021depending on how quickly we are able to hire people,” Amit Kalra, MD and Head – Swiss Re Global Business Solutions Centre Bengaluru, told BusinessLine .
He said, when the company ramps up to 1,500 employees, Swiss Re Bengaluru will become 10 per cent of the global organisation. “This is because, 15,000 of Swiss Re’s global employee base generate $35 billion of revenues. That’s why we call ourselves a Business Solutions Centre.”
The new hires, dominated by laterals with 5-20 years of experience, will be in the areas of data analytics, data science, actuarial science, financial planning and costing. They will be hired from the primary insurance sector, from tech and finance firms.
The company also hires 20-25 graduates annually via strategic tie-ups with the National Insurance Academy, Pune and Birla Institute of Management Technology, Greater Noida. Entry level salaries for freshers range between ₹6 lakh to ₹8 lakh per annum.
“Our focus is not just on laterals and university hiring but also on building talent from within our employee base, who we are training and upskilling. We have also been able to attract people of Indian origin from outside India, who want to come back because we are offering global roles across levels from here” said Kalra. The average age at Swiss Re is 32 years. The company has maintained a 12 per cent attrition rate over the last five years compared to the industry average of 18-20 per cent.
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