Career Paths
Get an overview of the development of the insurance industry and how New York Life will support you in reaching your career goal.
Why Insurance?
An industry with substantial growth potential
When considering a career change and a move to the insurance industry, the most popular question is: What are the career prospects? According to data released by the Office of the Commissioner of Insurance, individual life has long been the dominant line of business, with double-digit annual growth on average in the past decade.
Office Premium of Individual Life Business
Source: Office of the Commissioner of Insurance (The Office of the Commissioner of Insurance is not affiliated with New York Life Hong Kong in any way)
In addition, according to the Census and Statistics Department's Indices of Business Receipts for Service Industries/Domains, insurance is an industry that has recorded sustainable growth every year since 1998. This indicates the continued potential for healthy development within the industry, even in times of economic slowdown.
| Industry or Domain /Year |
1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 |
|---|---|---|---|---|---|---|---|---|---|
| Hotels Industry | (27.1) | (3.8) | 16.7 | (7.6) | (2.3) | (19.7) | 39.4 | 22.1 | 13.8 |
| Transport Industry | (11.5) | 4.5 | 20.8 | (2.4) | 2.3 | 0.5 | 22.8 | 17.8 | 10.6 |
| Real Estate Industry | (24.1) | (14.1) | (0.1) | (16.9) | (2.5) | 6.2 | 13.5 | 16.0 | (0.4) |
| Insurance Industry | 4.6 | 4.0 | 13.1 | 14.2 | 10.3 | 19.1 | 22.3 | 16.0 | 21.3 |
| Financing (except Banking) Industry |
(35.5) | 3.1 | 40.7 | (12.6) | (14.3) | 17.3 | 33.2 | 14.3 | 47.9 |
| Tourism, Convention and Exhibition Services Domain |
(30.3) | (2.4) | 13.7 | (3.8) | 10.7 | (7.3) | 26.5 | 12.9 | 14.0 |
| Banking Industry | (6.1) | 6.6 | 0.8 | 2.7 | (0.8) | 0.0 | 4.4 | 10.9 | 19.5 |
| Wholesale/Retail Industry | (16.2) | (10.0) | 3.9 | (4.0) | (5.7) | (2.9) | 9.4 | 6.5 | 7.4 |
| Restaurants Industry | (4.1) | 0.4 | 2.1 | (2.5) | (5.4) | (9.7) | 10.1 | 6.0 | 9.5 |
| Communications Industry | (2.8) | (14.9) | 8.7 | (13.2) | (2.6) | (2.4) | 1.0 | 5.1 | 0.8 |
Source: Census and Statistics Department
It is a social trend
The need for financial planning services
As the general public tends to be concerned about how their assets can best be accumulated, managed and grown, there is a need for financial planning services.
The increasing awareness of retirement planning
As the MPF may be insufficient to support retirement living, more and more people are setting up retirement funds to complement this retirement nest egg and ensure their existing standard of living can be maintained after retirement.
The upcoming medical policy that will require the public to be responsible for their own health
With escalating healthcare costs and the possibilities of the government reducing the subsidies for public healthcare, suitable individual medical protection plans will need to be offered to meet market needs.
Why New York Life Hong Kong?
Your future is in your own hands
At New York Life Hong Kong, you are free to follow your own career path.
We point the way to success
We believe that employing quality people is the key to providing quality service to our customers. As such, the training and development of insurance professionals has always been our main focus. Whether you strive to be an Executive Business Director or an Executive Agency Director, we are committed to supporting you in reaching your goal by providing continuous training programs:
Sales Training Program
|
Management Training Program
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