Insurance Job Opportunities Seminar Confirms that the field is attractive and competitive
Al Rashdi: work environment of the field is attractive and attracts high degree holders
Al Harrasi: the sector now is able to attract Bachelor and Master degrees holders which indicates the change in the sector
Al Lawati: from mechanical engineering to wide and dynamic sector
Al Marzooqi: insurance sector needs passion and hard work to achieve best work positions for national cadres
Capital Market Authority organized a Seminar on job opportunities in insurance sector on the sidelines of the Job Exhibition 2017 organized by Job Guidance Center of SQU during the period from 14th- 16th March, 2017. The Seminar clarifies the nature of jobs offered in the Omani insurance market to absorb the increasing outcomes of colleges and universities. The Seminar also introduced the educational and professional aspects required in the insurance market, and specified the distinguished opportunities offered besides features provided by the sector to persons belonging to it.
Rashid Al Rashdi, Director of Requirements and Licensing Insurance Institutions confirmed that CMA exceeded its target in increasing Omanization to reach 70% in the current stage, and the next stage will focus on quality Omanization through enabling national cadres to hold administrative and technical positions on middle and high levels. This initiative started three years ago combined with training and qualifying nationals in various specialties that fulfill the market’s need. Al Rashdi confirmed that work environment of the sector is attractive and competitive that attracts competencies of colleges’ and universities’ outcomes.
The panel headed by Jaleela Al Akhzami, Insurance Training Committee Member talked about experiences of success and challenges faced in the insurance sector. Ahmed Al Harrasi, Auditor on insurance companies and Actuarial Expert confirmed that work environment of insurance companies and brokers now enjoy as much attraction and competition as other financial services sectors especially in the last seven years. He added that working days decreased to five days instead of six, and salaries also increased as many Omanis are paid 2000 RO, and the sector now is able to attract Bachelor and Master degrees holders which indicates the change in the sector. It is expected that the sector will witness a new stage during the coming period by imposing compulsory health insurance on expats which considers the sector promising and vital.
Adel Hassan Al Lawati, Senior Vice President, Orient Insurance Company talked about his experience in the insurance market. He said that his college degree has no relation to insurance as he graduated from SQU from College of Engineering with Mechanical Engineering specialization, and started working for three years in one of the oil companies, and then he found his way to insurance sector is wide and dynamic field, and worked in various circumstances and environments as per the different insurance products he had to handle as well as different work places he had to work in especially that he worked for years outside the Sultanate for international insurance companies, and now he directs a branch of one of the biggest international insurance companies. He confirmed that the work in insurance sector is not routine and pushes to self-development, and it is also a promising sector as with the current economic conditions and the decrease in most of economic sectors indicator. He added, insurance market is still growing as the growth percentage is almost 2% reaching to half milliard Omani Riyals by the end of 2016, which supports the employees in the sector whereas other sectors released their employees as a result of being affected by the economic conditions.
Badr Salim Al Mazooqi, Assistant General Manager of Business Development, National Insurance Company described his 17 years of experience in the insurance market which started after his graduation from the Technical Industrial College with insurance specialty which was the first and last batch. He said from that time to day he is moving inside the insurance market, and although he used to work for six days with insufficient salary comparing to public sector, but the work was encouraging and with hard work it is possible to achieve high positions with high salaries which is a feature that does not exist in the public sector. He called the national cadres to be passionate and prove themselves inside their companies and work with enthusiasm to achieve progress in getting high administrative and technical positions.