The insurance sector has seen a rise in hiring activity in 2016, shows a Naukri.com Job Speak Index survey. The job portal firm said that insurance companies posted 806 jobs in February 2016 as compared to 628 openings in February 2015, an increase of 28%.
Among metros, Mumbai leads the growth with 24% increase in hiring activity in 2016. Delhi/NCR came second with 23% growth and Bengaluru was at third position with 22% growth in the Naukri Job Speak Index during the same period.
Experts believe that hiring activity in the insurance sector will go up further. Anirudh Singh, Chief Operating Officer, Raheja QBE General Insurance says, “The penetration of insurance products is still low in India. The insurers are hiring more to increase the level of penetration among masses. I expect to see the trend going upwards in the coming years as there is immense opportunity in this space.”
Hiring trends across different sectors
Krishnamoorthy Rao, MD & CEO, Future Generali says that the hike in FDI limit and entry of re-insurers will create more job opportunities in the insurance sector.
While the insurance sector recorded a growth in hiring activity, the overall hiring activity dropped in the BFSI sector as banks posted fewer openings. The job postings in the banking sector declined by 5% in February 2016 (2,404) as compared to 2,529 in February 2015.
Methodology: The Naukri Job Speak index from Feb’10 includes both online jobs as wells as jobs acquired from existing clients or by tele-calling. The tele-calling data is a relatively small component of the entire job postings on Naukri, addition of the same to the index to give a more holistic picture of the Indian job market.