The global insurance sector has, in recent years, been increasingly faced with multiple new opportunities as well as challenges. While an increase in pressure on global businesses brought about an increase in claims, there has also been a simultaneous tightening on solvency regulation due to a need to induce better risk management.
At the same time, the industry faces more new opportunities in terms of business expansion than ever before. In large parts of the world rising rates of growth and development coupled with rising awareness have led to increasing demand for insurance products in both the personal as well as corporate markets. The insurance business, at it’s core, operates on a solid understanding of applied risk management along with the management of a talented workforce that is able to sustain and build upon this understanding.
At the same time, studies carried out in various parts of the world indicate that although the insurance sector faces rising demand in several lines of business it is in fact facing challenges in terms of being able to ramp up and retain the right talent that it needs to capitalize on the new opportunities.
Sciente International has a strong depth of experience in serving the insurance sector and is well-placed to appreciate these issues and provide the most appropriate solutions for them.