Egypt: Talent management is regarded as crucial for the growth of insurance companies
Source: Middle East Insurance Review | Aug 2024
The Insurance Federation of Egypt (IFE) said that for insurance companies to adapt successfully to rapidly changing risks, there is a need to find new ways of working supported by a more flexible workforce with diverse capabilities.
IFE said that the insurance companies that will succeed in the coming years are those that believe that developing a strategy to attract qualified people is as important as the basic business strategy, adding that the strength of the company is largely determined by the competencies it possesses.
Insurers’ talent strategy requires the same attention and focus as their business strategy, especially since the insurance industry is witnessing rapid change; therefore, the industry must move towards developing a workforce that is compatible with the markets it serves. This requires engaging people with digital skills who have a fundamental understanding of what customers expect today and giving them the opportunity to help develop the company. M