SINGAPORE: A recent report by global speciality insurer Canopius has revealed that while the insurance sector offers competitive salaries, job stability, and benefits that align with Singaporean graduates’ priorities, only 56% of them find it an appealing career choice.
The survey explored career preferences among young graduates and found that salary and benefits were the top priority for 31% of respondents, followed by job stability at 17%.
However, less weight was given to factors like work-life balance (13%), company culture (8%), and travel opportunities (7%).
While the insurance sector offers job stability and work-life balance close to that of finance and consulting—seen by 72% and 71% of respondents, respectively—the industry still faces several misconceptions.
Among graduates who do not view insurance as an attractive field, 70% cited limited career growth opportunities as a deterrent, 48% mentioned a lack of information about the sector, and 36% viewed it as an unexciting career path.
Soon Keen Lee, Chief Executive Officer for APAC and MENA at Canopius, emphasized the need for better communication about the advantages of a career in insurance.
“From our research, it is encouraging to see that what young graduates seek is in line with what the insurance industry is already offering,” Ms Lee said.
She added, “Instead of reinventing the wheel, our focus should be on improving how we communicate about the job progression, compensation packages, and the positive work environment that a career in insurance can offer.”
Featured image by DepositPhotos
