Australia's insurance reskilling looks 'robust': report

Training programmes are being offered especially on entry-level skills.

Australia’s reskilling system in its insurance sector looks robust with the government, in-house and third-party providers pitching in training programmes particularly on entry-level skills, according to a report by the Zurich Insurance Group.

However, it expects that talent shortages may surface over the next two to three years, with the hardest hit being the STEM programmes. In addition, attracting and retaining talent in the country’s insurance sector has become more challenging due to an ageing workforce.

On the other hand, it noted that third-party providers are entering the market, with insurers zeroing in on professionalising its workforce.

Moreover, the government’s general skilling programmes are generally seen as worthy especially amidst the pandemic, with stimulus packages for training and gainful employment being handed out, the report said.