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Manpower Dynamics. Data Intelligence

Insurance

Life insurers; General insurers; Composite insurers; Brokers; Company agencies; Bancassurers.

Insurance Inner Banner

Year 2017 Tooltips

Senior Management

0

Middle Management

0

Supervisor

0

Technical Representative Tooltips

0

Clerk

0

Insurance Agent

0

Other Supporting Staff

0

Total

0

Senior Management

0

Vacancy rate: 0.4%

Middle Management

0

Vacancy rate: 2.5%

Supervisor

0

Vacancy rate: 3.5%

Technical Representative Tooltips

0

Vacancy rate: 2.7%

Clerk

0

Vacancy rate: 3.5%

Insurance Agent

0

Vacancy rate: 2.8%

Other Supporting Staff

0

Vacancy rate: 8.9%

Total

0

Vacancy rate: 2.9%

 

All the percentages are rounded to nearest 0.1%.

Managerial

0

Turnover rate: 5.4%

Supervisory

0

Turnover rate: 8.3%

Technical Representative Tooltips

0

Turnover rate: 5.7%

Clerk

0

Turnover rate: 15.7%

Insurance Agent

0

Turnover rate: 12.5%

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.

 

All the percentages are rounded to nearest 0.1%.

Monthly Income Tooltips

Note(s):
The figures did not include other supporting staff.

 

All the percentages are rounded to nearest 0.1%.

Icon of

Senior Management

77.4%First Degree

Icon of

Middle Management

75.5%First Degree

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Supervisor

36.2%First Degree

33.7%Senior Secondary

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Technical Representative Tooltips

69.8%Senior Secondary

Icon of

Clerk

60.0%Senior Secondary

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Insurance Agent

97.6%Senior Secondary

 

All the percentages are rounded to nearest 0.1%.

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Senior Management

42.2%Over 10 Years

36.2%Over 5 years – 10 years

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Middle Management

62.7%Over 5 years – 10 years

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Supervisor

36.1%Over 5 years – 10 years

49.7%Over 2 years – 5 years

Icon of

Technical Representative Tooltips

36.9%Over 2 years – 5 years

31.1%1 - 2 Years

Icon of

Clerk

53.8%1 - 2 Years

Icon of

Insurance Agent

91.0%Over 2 years – 5 years

 

All the percentages are rounded to nearest 0.1%.

Icon of

Senior Management

93.8%First Degree

Icon of

Middle Management

87.5%First Degree

Icon of

Supervisor

74.0%First Degree

Icon of

Technical Representative Tooltips

53.0%Senior Secondary

Icon of

Clerk

35.3%Sub-degree

41.6%Senior Secondary

Icon of

Insurance Agent

97.7%Senior Secondary

 

All the percentages are rounded to nearest 0.1%.

Icon of

Senior Management

62.8%Over 10 Years

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Middle Management

75.7%Over 5 years – 10 years

Icon of

Supervisor

57.9%Over 2 years – 5 years

Icon of

Technical Representative Tooltips

48.5%1 - 2 Years

31.6%Over 2 years – 5 years

Icon of

Clerk

41.7%Less than 1 year

30.2%1 - 2 Years

Icon of

Insurance Agent

81.1%Less than 1 year

 

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’ expectations

3rd

Lack of candidates with good language capabilities

Manpower Demand

Average Annual Growth

0

2017

Actual

0

2019

Forecast

0

Note(s):
(1) The figures included employees and vacancies.
(2) The figures did not include other supporting staff.
(3) The manpower forecast is provided by the employers in the survey.

 

All the percentages are rounded to nearest 0.1%.

Manpower Demand

Average Annual Growth

0

2017

Actual

0

2019

Forecast

0

Note(s):
(1) The figures included employees and vacancies.
(2) The figures did not include other supporting staff.
(3) The manpower forecast is provided by the employers in the survey.

 

All the percentages are rounded to nearest 0.1%.

Report

Insurance Industry - 2017 Manpower Survey Report Image
  • Insurance
  • 2017 Manpower Survey Report

A Surge in the Number of Insurance Practitioners

The workforce of the insurance industry has had an increase of 44.1% over the past two years. Particularly, the number of insurance agents and clerical staff has increased by 70.2% and 42.9% respectively. The manpower changes were due to various reasons, like business expansion and the change in organisational structure of some of the surveyed companies as well as the increasing workloads due to the tightened regulatory and compliance requirements.

Insurance Industry - 2020 Manpower Update Report Image
  • 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.