The risk analysis and insurance fee-adjusting industry is outstanding for combining toancs, finance and data analysis, attracting the attention of young people seeking a career that brings financial stability, intellectual challenges, self-improvement and positive impacts on society.
Increased recruitment demand opens up many job opportunities
The demand for recruiting experts for Risk Analysis and Insurance Fees in Vietnam is increasing strongly.
Mr. Sean Hsiang Kau, Risk Director, Hanwha Vietnam Life Insurance Company, shared: Vietnam is facing a shortage of experts with high expertise in Risk Analysis and Insurance Fees, but that is also an opportunity. This need is very urgent throughout the Asia-Pacific region, with many countries making efforts to train and strengthen their workforce to meet the increasing demand from the insurance market.
Comparing Vietnam with more experienced markets, Mr. Chung Ba Phuong, Chairman of TC Advisors at Techcombank, Chairman of Techcom General Insurance Company, said: In places with aging populations such as China, Korea and Japan, insurance is an essential need and has a great impact. Vietnam's younger population has not yet seen a great demand for insurance, forming a different culture of risk management".
The two experts found that interesting trends are shaping this field. Mr. Hsiang Kau Sean emphasized data science and digital transformation in industries because he believes that experts in Risk Analysis and Insurance Fees will increasingly take advantage of Machinery Learning and Big Data to innovate in Digital Insurance, Lifespan and Environmental Analysis, Society & Enterprise Governance (ESG). Mr. Chung Ba Phuong also affirmed the role of technology and said that Big Data and artificial intelligence (AI) are the keys to protecting customers and making accurate predictions.
The future of the Risk Assessment industry in Vietnam
The prospects of the Risk Assessment industry in Vietnam are very promising, with the possibility of expanding to many other industries other than the insurance industry.
To adapt to increasing trends and needs, Mr. Chung Ba Phuong said: "Students interested in this industry should be curious, observant and proficient in Big Data and AI, because technology is the future. But the most important thing is always your attitude: Be proactive, responsible and take a record of everything you learn and do.
Mr. Sean Hsiang Kau's advice: "Be proficient in math, data analysis and AI, regulatory knowledge and soft skills. Start early, persistently and update knowledge from research groups or resources from the US exposure assessment Association (SOA) in Vietnam, such as the Affiliate Member program providing free access to digital libraries, events and consulting programs. This is a long but very worthy journey.
Mr. Chung Ba Phuong added: An expert in Risk Analysis and Insurance Fees must clearly understand the business goals, what is happening, how to use numbers and results to better predict. Be determined, constantly learn and explore the joy of work.
This is a stable, meaningful profession, using logic to help businesses as well as challenge themselves. Experts in Insurance Risk Analysis and Fee sets are at the forefront of adaptation and growth with the ability to create financial security, shape industries and promote innovation in a constantly developing world.
