HK insurance firms willing to invest in tech attract candidates in the sector

Insurers in Hong Kong earn HK$18,000 to HK$200,000, depending on the applicable department and job role or level.

Hong Kongers seeking jobs in the insurance sector are highly attracted to fringe benefits and employers willing to invest in technological advancements for career progression.

The insurance industry in Hong Kong is undergoing significant digital transformation, driving job opportunities in digital expertise roles like transformation managers and project managers, according to Randstad’s 2024 market outlook & salary guide. 

“Junior to middle-level professionals can expect a substantial 20% to 25% salary increase when switching employers or staying in the same role. Senior-level executives can anticipate a modest raise between 10% and 15%,” the report stated.

Companies are focusing on developing personalised product portfolios and collaborating with digital partners. Key Opinion Leader (KOL) partnerships play a crucial role in customer engagement. 

In 2024, there's a trend toward repackaging insurance products to promote wellness, leading to increased demand for roles in product development and management. Technical roles such as actuaries remain in high demand, prompting companies to recruit talent from neighbouring markets. 

Tightening regulations continue to shape hiring requirements, particularly in compliance and risk management. 

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According to the report’s salary guide, candidates can expect to earn HK$18,000 to HK$200,000, depending on the applicable department and job role or level.

The Greater Bay Area presents untapped market opportunities, driving demand for talent with local expertise. Companies are consolidating human resources capabilities regionally and emphasising flexible work arrangements and diversity. 

Digitalisation is driving salary increases for junior to middle-level professionals. The trajectory of digital transformation in Hong Kong is set to create new job opportunities in artificial intelligence, data analytics, and cybersecurity. 

Fintech and digital banking are gaining momentum, leading to increased demand for expertise in these areas. Data plays a pivotal role across industries, driving demand for roles related to data protection and analytics. 

Talent with strong digital literacy will be highly sought after. Sustainable practices are gaining traction, particularly in the banking, construction, and energy sectors. 

Senior-level job vacancies remain competitive, with candidates prioritising stability over remuneration. This reflects evolving candidate priorities amidst market uncertainty.