Year 2021 Tooltips
Employees
Senior Management
0
Middle Management
0
Supervisor
0
Clerk
0
0
Insurance Agent
0
Other Supporting Staff
0
Total
0
Note(s):
The total reported number may not reflect the actual number of agents in the industry as insurance agents may possess licences of both life and general insurance and there exists a certain number of inactive life insurance agents in the market.
Senior Management
0
Vacancy rate: 0.6%
Middle Management
0
Vacancy rate: 2.0%
Supervisor
0
Vacancy rate: 2.1%
Clerk
0
Vacancy rate: 1.6%
0
Vacancy rate: 1.0%
Insurance Agent
0
Vacancy rate: 2.1%
Other Supporting Staff
0
Vacancy rate: 1.0%
Total
0
Vacancy rate: 1.9%
Note(s):
Readers should be cautious in interpreting the number of vacancies of insurance agents as the figures, with the reference date on 2 January 2021, may be subject to seasonal changes, business strategies, and manpower plans of different companies.
All the percentages are rounded to nearest 0.1%.
Managerial
0
Turnover rate: 6.5%
Supervisory
0
Turnover rate: 8.4%
Clerk
0
Turnover rate: 14.4%
0
Turnover rate: 7.8%
Insurance Agent
0
Turnover rate: 5.0%
Note(s):
Managerial staff included both senior management and middle management.
All the percentages are rounded to nearest 0.1%.
Monthly Income Tooltips
Note(s):
The figures did not include other supporting staff and included insurance agents.
All the percentages are rounded to nearest 0.1%.
Monthly Income Tooltips
Note(s):
The figures did not include other supporting staff and included insurance agents.
All the percentages are rounded to nearest 0.1%.
Preferred Education Tooltips
All the percentages are rounded to nearest 0.1%.
All the percentages are rounded to nearest 0.1%.
Preferred Education Tooltips
All the percentages are rounded to nearest 0.1%.
All the percentages are rounded to nearest 0.1%.
Recruitment Difficulties
1st
Lack of candidates with relevant experience and training
2nd
Working conditions/remuneration package could not meet recruits’ expectation
3rd
Insufficient graduates in relevant disciplines (e.g. Insurance, Business Administration, Banking and Finance, etc.) from tertiary institutions
Note(s):
The figures did not include other supporting staff and insurance agents.
Manpower Demand
Average Annual Growth
0
2021
Actual
0
2025
Forecast
0
Note(s):
(1) The figures included employees and vacancies.
(2) The figures did not include other supporting staff and included insurance agents.
(3) The manpower forecast is based on the statistical modelling of relevant economic indicators which reflect important changes in the local economy, demography and labour market.
All the percentages are rounded to nearest 0.1%.
Manpower Demand
Average Annual Growth
0
2021
Actual
0
2025
Forecast
0
Note(s):
(1) The figures included employees and vacancies.
(2) The figures did not include other supporting staff and included insurance agents.
(3) The manpower forecast is based on the statistical modelling of relevant economic indicators which reflect important changes in the local economy, demography and labour market.
All the percentages are rounded to nearest 0.1%.
Report

- Insurance
- 2021 Manpower Survey Report
Picking Up the Pace of InsurTech
Insurance companies are taking steps to recover from the adverse impact of COVID-19 and transform the industry into a new shape in order to bring it to the next higher level. Companies with better digital capabilities will have an upper hand at picking up sales. On the road to InsurTech, employees, brokers, and agents should be integrated at each step through digital interfaces. Though people are an integral part of the digitisation process, data privacy and cybersecurity cannot be overlooked.

- Insurance
- 2020 Manpower Update Report
Changing Customer Expectations
Nowadays, customers, particularly the Millennials, get used to buying online and e-commerce. They have grown up with the Internet, mobile devices, social media, and the cloud, etc. These customers are expecting similar online experience as they normally do from popular e-commerce and online platforms when they are considering buying insurance products. What is more, with the emergence of virtual insurers, traditional insurance companies have to embrace InsurTech to revamp the entire system in order to satisfy customer needs which are invariably evolving.