Training in Banking and Insurance Sector

Favorable economic climate and number of other factors such as, growing urbanization, increasing consumerism, rise in the standard of living, increase in financial services for people living in rural areas, etc has increased the demand for wide range of financial products that has led to mutually beneficial growth to the banking sector and economic growth process. This was coincided by technology development in the banking operations.

Today most of the Indian cities have networked banking facility as well as Internet banking facility. Some of the major players in the banking sector are State Bank of India, HDFC Bank, Citibank, ICICI Bank, Punjab National Bank, etc.

In the Insurance sector also, rapid expansion has created about 5 lakh job opportunities approximately in the past five years. These openings are mainly in the field of insurance advisors or marketing agents. The eligibility criteria for these jobs is graduation with some experience in marketing or become insurance agents after completing school but this needs some relevant training.

Earlier there were no training programs as such for insurance agents but on-the-job training only that was given once the new agent was appointed. But now the scenario has been changed, with the coming up of big players like ICICI Life Insurance, ICICI Lombard, HDFC Life Insurance, Tata AIG General Insurance, etc in this sector, people who've had some formal training are preferred while recruitment because it can be helpful in the insurance field.

However, only the insurance degree in this field does not guarantee success. To be successful an agent must have strong interpersonal, networking, and communication skills.

Number of opportunities in Banking and Insurance sector has increased than ever before. With this rapid expansion and coming up of major players like ICICI, HDFC, UTI, Bajaj Allianz, etc in the sector, the need of human resource development has increased.

Career For Trainers in Banking-Insurance Sector
Training Institutes In Banking-Insurance Sector
Job Description In Banking-Insurance Sector

Last Updated: 07/05/2015