The insurance sector has opened a new opportunity for employment. After granting permission to operate 10 new life insurance companies, a large scale of opportunity has been generated. Out of 10,6 of them have started their business. Remaining 4 will start operation soon. With the addition of so many new companies, apart from old and experienced employees, the probability to get a job for newcomers has increased up. Due to the lack of experience and skilled manpower in the insurance sector, new people will get. Various type of manpower is required by an insurance company like a surveyor, agent, chartered accountants, actuary, etc. Presently, for the good operation of a company, 300-400 employees are required, says a functional head officer of Shikhar Insurance Company, Deep Prakash Pandey.
If same be taken base among recently permitted 10 insurance companies, up to four thousand employees will be required for the various post. Likewise, other 4 non-life insurance companies, in license procedure will further require one thousand six hundred employees.Even though in the functional head, assistant and departmental head, experienced employees are searched but in other posts, new employees will be kept, says the assistant manager of Lumbini General bank,Khatri. The employee hierarchy of insurance company along with for underwriting, reinsurance, market management, legal and claim payment, accounts and treasury, information and technology department have to be compulsorily maintained. Under it, there will be one departmental head and under each department, there will be four employees. Head functional officer and deputy functional officer’s secretary office do have some employees.
Presently, there are 27 insurance companies in operation in Nepal. Among them, 17 are non-life, 9 are life and one is reinsurance company. Along with it, among the recently permitted insurance companies, some have come into operation. Others companies are in the stage to come in operation too. 4 non-life insurance companies are awaiting the permission of the committee. If all of them come in operation, the total number of companies will be 41. With the increment in insurance companies, newcomers will too get an opportunity, says committee head Chiranjivi Chapagain. “ In the market, there are a lot of educated unemployed,” he said. The leadership level of the company requires an experienced person, but other levels can have new employees, says the assistant general manager of Nepal Life Insurance Company, Kamal Panthi. “ New employees learn faster. Newcomers do have enthusiasm and passion”, he said.
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