TENDENCIES IN INSURANCE

– COMPETENCIES FACED

WITH TECHNOLOGIES

Catalin CAMPEANU

Deputy General Manager

Knowledge has to be improved, challenged,

and increased constantly, or it vanishes

(Peter F. Drucker)

Technology is nothing. What’s important is

that you have faith in people, that they’re

basically good and smart, and if you give

them the tools, they’ll do wonderful things

with them. (Steve Jobs)

About us

ISF

110 programs

More then 22.500

participants

99,000certifications

200 trainers

5 national centers

Founded by the Authority of Financial Supervision

VISION: Center of excellence in financial education

programs aiming to ensure adequate level of professional competencies for the financial

institutions’ employees in Romania

About us

MEMBERS INTERNATIONAL MEMBERSHIPS/

PARTNERSHIPS

Did you know…

• 2006

• KPMG survey

concerning Finance of

the Future

• no.1 barrier to change

was finding and

retaining the right

caliber, suitably

qualified staff

• 2020 (similar survey)

• issue is CRITICAL (due

to outsourcing, off-

shoring and increased

automation)

Did you know…

• 2015 Deloitte survey - one third of insurers considered

they were ready with the skills and abilities required by

their business….

• There’s a void due to retirement of Baby Boomers from

workforce

Statistics

US Bureau of Labor Statistics by 2026 -11 jobs will disappear

Claims adjusters and investigators (-1.5%)

Underwriters (- 5.2%)

McKinsey Report 2018, in the following 10-15 years:

Basic cognitive skills, which include basic data input and processing, will decline by 15 percent

Technological skills, the smallest category today, will rise by 55 percent

Talent, technology and transformation

• Different weight in the

future impact from the

employers’ point of view

• Pressure of customers’

expectations?

Wearable devices

Internet of Things

Biometrics

RoboticCryptocurrencies

E-payment

Block-chain

Talent needed

What’s next?

• Acquiring talent with non-traditional profiles

• Setting up apprenticeship programs for employees

• Continuous learning for workers and a shift to more cross-functional and team-based work

Did you know…

• Professional development in the digital age should be participatory in nature,

where ideas and resources are exchanged and incorporated into instruction

Machines

On-job learning

Massive open online courses platforms (MOOC)

Still a need for sociability

Human interaction preferred on important and delicate issues

COLLABORATION NOT COMPETITION WITH HUMANS –USE THEM DON’T COMPETE WITH THEM !!!

Institute of

Financial Studies

Email: evenimente@isfin.ro

Web: www.isfin.ro