Prominent insurers looking to hire more people when the lockdown ends
Published On: Saturday, May 30, 2020 | By: Team KnowMyStock
"Financial services, especially insurance, will continue to see heightened hiring activity as risks to life and business become a real concern after the pandemic,” say experts. “Another aspect is that a lot of insurers have access to a wider customer base due to mergers at the parent level. This will also drive employment generation. A lot of hiring is happening in the feet-on-the-street (sales), digital, and bancassurance segments.” State-run lender United Bank of India and Oriental Bank of Commerce were recently merged into Punjab National Bank, which owns 30% in PNB MetLife. A similar amalgamation exercise has also expanded the bancassurance network of Canara HSBC OBC Life, where the recently merged OBC was a promoter.
The insurance industry employs more than 6 lakh people as direct employees. The number is much larger when the contract manpower is included. With only 35% of the population at the end of FY2018 having access to medical insurance, insurers believe that significant opportunities exist in the health-cover segment.
Several of the recruiters are also ramping up their digital capabilities, creating employment opportunities in the sector at a time when uncertainty due to job-losses and salary cuts dominates the business landscape.
Tags: insurance recruitement
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