Following the acquisition of a majority stake in Kotak Mahindra Bank’s insurance unit, Zurich will reportedly look to add hundreds of staff in India.
Zurich plans to increase its India headcount by 40 percent over the next three years by adding 600 people, according to a «Bloomberg» report citing APAC CEO Tulsi Naidu. This includes talent in digital development, commercial insurance underwriting and distribution as well as product and proposition development.
This follows the recent acquisition of a 70 percent stake in Kotak General Insurance which currently employs 1,500 people.
Growth Opportunities
According to Naidu, there are opportunities to grow in commercial, small and medium enterprise, assurance, auto and general insurance.
«The penetration level for general insurance in India is a quarter of the world average,» she said. «We see the development of digital as one of the things that is a big enabler in terms of insurance access.»
