Lifelong learning opportunities are critical for retaining staff, the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has told forum delegates in Jakarta and Bangkok.

CEO Prue Willsford says the group’s research shows a significant proportion of young employees have left companies due to a lack of learning and development opportunities.

“Insurance companies worldwide have placed major emphasis on customer service and engagement as a result of the rapid growth in technology and consumer demand for excellence,” she said.

“It is imperative that companies invest in developing their own talent and empowering them with the skills to deliver services to the highest standard and ethics.”

Ms Willsford says the insurance industry in southeast Asia has seen significant growth in the past year.

The forums were held last month in collaboration with Ahliasuransi Learning Centre in Indonesia and the Thailand Insurance Institute.

ANZIIF last week also announced Vietnam has officially launched its Professional Competency Framework for the general insurance industry.

“Professional standards, qualifications and training give quality people a reason to choose the insurance industry,” Ms Willsford said. “Vietnam’s insurers will grow by providing sound financial advice and service that gains the trust of their customers and the communities they serve.”

ANZIIF began collaborating with regulatory and industry groups in Vietnam in 2016 to compile the framework.