What are the key HUMAN CAPITAL challenges within an insurance organisation at present? (20)

Expert Solution

At present there are several human capital challenges within an insurance organisation, which are as follows:

• Developing a sales force is the biggest challenge, as there is high turnover in the sales team in insurance industry. Retention of sales person in single company is very low. Sales person either leaves the sales work altogether or change the company.

• There is huge challenge to attract highly talented personnel. As, this industry faces competition with banking and other financial services providing industry while attracting dexterous one. Young graduate prefer banking, security exchange job in comparison to insurance sector job.

• Technology obsolescence is also a big challenge for this industry. Proper actuarial calculation pave the way to marketing, and in very short period of time actuarial calculation gets obsolete, high innovation is needed to be in competition.

keosha answered 2 years ago

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