Insurtech Talent Development in Hong Kong – From Insurance to Insurtech: Strategies for Building a Sustainable Talent Pipeline

37 Only about 28% of the employees in the UK insurance industry have digital and analytics skills. This is half of those working in the best-in-class tech giants in the country (Exhibit 19). Just 12% of the employees skilled in digital and analytics and working in the insurance industry are being deployed in roles related to digital and analytics such as data scientist, software engineer and product manager, which is less than half of those working in best-in-class tech giants in the UK (Exhibit 20). Exhibit 18: Skill category and specific skills required for the insurtech industry in the UK Skill category Specific skills in each category Digital leadership Digital product management, digital project management, digital business analysis Application design User research, user interface and experience (UI/UX) design, graphic design Application development Programming, enterprise/software architecture, front- or back-end development, mobile app development, embedded systems, e-commerce Data and analytics Data science, data analysis, data engineering, data storage IT infrastructure and deployment Cloud infrastructure, data center operations, development operations, quality assurance Information security Governance, risk and compliance, security operations Source: Infusing tech talent into the UK insurance industry 2020 Source: Infusing tech talent into the UK insurance industry 2020 Source: Infusing tech talent into the UK insurance industry 2020 Exhibit 19: Employees with any digital and analytics skills in the UK (%) Exhibit 20: Employees in digital roles in the UK (%) UK insurers UK brokers Personal-lines insurers leading in digital Best-in-class tech giants UK insurers UK brokers Personal-lines insurers leading in digital Best-in-class tech giants 28 12 18 6 44 20 56 30 Creating a Winning Insurtech Talent Development Strategy for Hong Kong