Insurance industry faces hurdle in growth due to dearth of human capital

To counter the shortage of human capital, insurance firms are investing in employees by recruiting directly from campuses

Even as reforms are initiated for the insurance sector to grow bigger, the insurance companies, both general and life, are facing hurdles, with the lack of human capital seen as a key challenge for them. One reason for this is that the talent pool has not grown the same way as the increase in the insurance companies.

Casparus Kromhout, managing director and chief executive officer (MD and CEO) of Shriram Life Insurance Company said, “Although the number of insurance players has increased over the last year, there haven’t been many talents from niche backgrounds such as actuarial science, underwriting, statistics,