Universal Sompo ties up with Manipal Academy of BFSI

Mumbai, Jul 16

Universal Sompo partnered with Manipal Academy of BFSI to launch the ‘NextGen Leaders’ Program, which is a high-impact initiative with the goal of creating a future-ready insurance workforce. This pilot cohort is enrolling 60 students, with the opportunity for future batches to be formed, depending on the success of this launch.

The Indian insurance industry is valued at over US$ 130 billion today, and it is expected to hit US$ 250 billion by 2030. However, the industry continues to face a talent gap in the form of a significant shortage of trained insurance professionals, particularly in Tier 2 and Tier 3 cities. The gap in the talent pool on a Foundation level, has created demand for tailor made training and programs such as this one, which will prepare young professionals for a changing customer demands.

The Post Graduate Certification in General Insurance is a five-month course designed to provide full-spectrum training across three stages. Stage one is one month of residential training at the Manipal Academy of BFSI, followed by a two-month internship at the various Universal Sompo branch offices, and a final two months of on-the-job training embedded into the regular operation of the company.

Students are ready to jump into the workforce right from the start of their training. They'll have completed all the necessary formal training for their roles and will be well-acquainted with the company's policies and procedures. The selection process will happen online on a national scale, beginning with a nationwide entrance exam, followed by individual personal interviews.

Trainees will receive remuneration throughout the course and secure employment offers upon completion of the course. The course is focused on developing real-world skills for participants through an emphasis on customer engagement, compliance, and business operation making trainees job-ready from day one.

Priti Singh -Chief People Office Universal Sompo said: “The insurance landscape is expanding rapidly, and we believe its future must include talent from every corner of the country. Through our partnership with Manipal Academy of BFSI, we are building not just insurance professionals, but local changemakers who understand their communities and can build trust from the ground up.”

Candidates will receive a stipend during training and confirmed employment upon successful completion of the program.

EoM.