Pakistan: Call for manpower improvements in insurance sector
Source: Asia Insurance Review | Jul 2017
Pakistan
Insurance industry veteran, Muhammad Ishaque Khan, has urged the government, insurance companies and educational institutions to conduct insurance courses to train manpower for the insurance industry.
Mr Ishaque Khan, who has served in the insurance sector since 1951, said in an interview with Daily Times that the major reason behind the pathetic condition of the insurance industry was the lack of educated manpower.
He said that while some individual companies did try to upgrade their manpower intake, the industry as a whole could not evolve a sound national policy.
He said that the government should set up a separate supervisory authority for the sector, because he saw the Security and Exchange Commission of Pakistan, which oversees the insurance sector, as being burdened with multiple other important tasks to do. “Moreover, the SECP has assigned only one commissioner to the sector which is not enough,” he said.
He said that the government, insurance companies and workers’ unions should play their role in spreading awareness about insurance across the country.
“We are providing insurance services to a very small number of people. We need to make long term and short term plans for rapid business growth, mass awareness campaigns and hiring of high-calibre manpower,” he said. A