, Hong Kong

Hong Kong insurers' reskilling efforts focus on data: report

The training market is adjusting through rehashing their portfolios.

Hong Kong insurers are centering their reskilling efforts around boosting workers’ capabilities to make business decisions in a data-driven environment as well as virtual management and leadership, according to a Zurich Insurance Group report. 

The city’s labour market piloted mobile working tools, flexible working, and mental health initiatives, the report said, and the training market is seen to be adjusting to the new normal as seen with providers overhauling their training portfolios.

In addition, the pandemic ushered in higher demand for technological capabilities due to the increasing dependence on data, and leadership and management training must now be conducted virtually.

Currently, no providers offer a full range of specialised technical training in insurance, as only two local tertiary institutes and the Vocational Training Council extend subject matter courses to the insurance sector.

Institutional committees are discussing these in Hong Kong, the report said.

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Insurance Asia in your inbox
The training market is adjusting through rehashing their portfolios.
Premium growth was driven by the low base effect plus growth in the health segment.
Training programmes are being offered especially on entry-level skills.
This is to ensure that troubled financial institutions won't end up needing costly bailouts.
The academy helps financial professionals accelerate their careers.
It is expected to post a 3-4.5% marginaL ROE due to investment income.
Hong Kong citizens who have received at least one vaccine dose can join.
Pandemic-induced mortality losses will remain small.
It will require project owners and operators to compensate environmental damages.
Long-term insurance revenue premiums declined 5.2%.
The 12.5% jump in cover shows good value amidst a challenging market, it said.
Singapore's GIC led the funding, investing $182m (INR6b).
The upper illustration rate will be capped at 4.25% p.a. and the lower rate at 3% p.a.
Only Dai-ichi Life posted higher core profit.
Ten insurers have invested in 47 community care projects.