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Dinesh Weerakkody Chairman International Chamber of Commerce Sri Lanka, Prakash Shaffter MD, Janashakthi Insurence PLC, Suresh Muttiah Union Assurance, Saurav Biswas Head of Research LIMRA and Chaturi Munaweera Director AIA at the event
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The insurance industry employs a workforce of about 18,000 - 20,000 and has an agency force of about 45,000
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Insurance, as a market has a strong growth potential, but penetration capacity of insurance companies is relatively low.
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These facts were revealed in a panel consisting of Dinesh Weerakkody International Chamber of Commerce Sri Lanka, Prakash Shaffter MD, Janashakthi Insurance, Suresh Muttiah Union Assurance and Chaturi Munaweera Director AIA at the Annual Insurance Congress on the subject 'HR Challenges in a Consolidating Industry' .
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In general it was noted that attracting new talent has always been a challenge for the industry.
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So HR professionals will need to continue to focus on building a strong employer brand and talent development tools to attract new talent.
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This is noted that the HR community can work together to generate a more positive
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image of insurance in academic and professional fields and in school communities.
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At the same time, HR will continue to develop existing employees and re skills to perform them in the new roles that the industry is currently experiencing.
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Dinesh Weerakkody noted in his address that the new business models would be required to adopt a hr strategy for employees embrace new technologies and build organization capabilities.
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He added that HR will have to be a strong advocate of digital transformations within the organization, that goes beyond basic HR Systems and hence HR must be concepts embracing concepts such as organizations within digital talent and develop reward systems that only team performance or simply on education / technical qualifications, but more merit driven, and that promotes creativity and innovation.
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The panel in general noted that if skill is an issue and if the industry is not able to grow all the talent from within, it has the advantage of the regulatory landscape, which provides opportunities for consolidations, partnerships etc.
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The United States Congress is the bicameral legislation of the federal government of the United States. The legislature consists of two chambers: the House of Representatives and the Senate. The Congress meets in the United States Capitol in Washington, D.C. new update
