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
- 2023 Manpower Update Report
Preparing Insurance Workforce for the New Normal
The insurance industry in Hong Kong is navigating both opportunities and challenges in the global business landscape. The Government has set its sights on establishing the city as a regional insurance hub. Although the COVID-19 pandemic initially caused a decline in gross premiums, the reopening of borders in 2023 sparked robust demand for long-term insurance from mainland customers. Regulatory measures like IFRS 17 and the forthcoming RBC regime are enhancing transparency and bolstering financial stability. Technological advancements, including digitalization, AI, and big data, are streamlining processes and broadening the customer base through personalized services. Insurance agents are adapting by providing consultancy services and tailored solutions, setting themselves apart from online platforms. The industry also recognises the increasing necessity for skilled professionals who possess expertise in insurance knowledge, commercial acumen, digital skills, risk management, compliance, actuarial proficiency, and innovation. It is imperative to invest in upskilling and reskilling existing staff to meet the evolving demands of the industry.