The fast-growth banking financial and services industry (BFSI) sector in India is expected to create about a million jobs every year for the next five years. And among the vertical, the insurance sector will witness a spiraling growth in terms of people, with the number pegged at 500,000.
The issue in this sector is no longer about finding jobs for people; it is about finding people with relevant skills mandated by this industry.
K V Kamath, ICICI Bank MD and CEO at a summit recently expressed, "Finding people with the right skills is our foremost challenge."
The primary challenges of this sector are as follows
Shortage of skilled manpower
High attrition rate
Regular skill-update on the new banking regulatory policies.
24x7 Learning's Talent Lifecycle Management solution will help the industry meet the challenges. Through its end-to-end eLearning solutions, 24x7 Learning can help reach out domain specific training programs on Insurance, Mutual Funds, Capital Markets, Basel Compliance, Anti-Money Laundering initiatives and so on.
24x7 Learning has the capability to build a corporate virtual university to address each of the training needs above. Banks and FIs can effectively and cost efficiently reaches out standardized eLearning programs to a large number of geographically dispersed employees. 24x7 Learning's solutions will eventually help them chart out a prosperous future in the industry.
