Human Capital Insurance

How to make sure you have the most capable people in your insurance company

Group of college students outdoors studying. Image shot 11/2007. Exact date unknown.

Recruiting beyond the risk averse: Modernising graduates’ perception of insurance is a report based on a survey which explores the aspirations, goals, and motivation of business students looking at careers in insurance. In an environment of relentless Volatility, Uncertainty, Complexity and Ambiguity (VUCA), the report aims to uncover underplayed strengths and address weaknesses in order for insurers to better attract talent.

Globally, the findings show that insurance is not a popular career destination for business students and that the industry may not be attracting talent with the creative or innovative skills to safeguard its future success. In South Africa, insurance is more popular with business students than in most other countries surveyed. However, its popularity is falling and is much less popular than other business sectors.

To attract graduate talent, insurers should do better at exploiting their strengths, which they currently underplay. Understanding the mind-set of business students and their attitudes to insurance is a first step, and this report explores these issues.

The key findings of the survey include:

  • Security is sought more than innovation or exciting products
  • Insurance-inclined students want to develop and be experts
  • Work-life balance declines in importance, but still the top career goal
  • International opportunities provoke little interest amongst the job security-conscious insurance-inclined
  • Seeking friendly colleagues, but not team-work
  • Financial strength, prestige ranked ahead of ethics and social responsibility

Read the South African report

About the author

Deloitte South Africa

Deloitte is one of the country's leading professional services firms in Southern Africa, and is dedicated to assisting companies succeed in the business environment- whether it be through our tax, audit, consulting or financial advisory services.

At Deloitte, we understand that solutions are not just a static one dimensional report, but rather, an integrated and innovative answer that helps our clients to better understand key complex industry issues. Not only do our solutions assist our clients in making strategic business decisions, but our unique approach also allows companies to succeed in a competitive business environment by staying ahead of industry trends. Through the collective expertise of nearly 3600 people in 8 cities in South Africa and in 16 cities in Southern Africa, and as a member firm of the global organisation Deloitte Touche Tohmats, we have access to deep insightful and intellectual capital of more than 150 000 people worldwide.

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A key contributor to Deloitte and our culture is the development of human capital. At Deloitte we believe in investing in our culture, in our clients and in our people. The very essence of Deloitte is to offer services of excellence, to both clients and staff, and we believe that it is this culture of excellence that will help us succeed.

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