Prudential Singapore plans to hire up to 500 more financial consultants in 2021

PRUDENTIAL Singapore on Wednesday said it plans to hire more mid-career individuals and fresh graduates amid the Covid-19 downturn.

The life insurer intends to hire up to 500 more financial consultants in 2021 than this year, as the "current health crisis has triggered growing awareness of and interest in insurance", it said in a press statement.

The new hires will include up to 200 mid-career individuals selected for its new S$1 million talent management programme, slated to launch in January next year.

Eligible candidates will undergo a two-year training programme, including a 12-month competency and skilling course, Prudential said. The course covers both soft and hard skills such as technical training, product knowledge, leadership development, effective communications and social media content creation.

Recruits will also be mentored by agency leaders and receive a monthly allowance of up to S$10,000 pegged to relevant work experience for a period of 24 months, the insurer added.

As for fresh graduates, successful applicants will undergo an in-house training programme covering topics such as financial planning, plan construction, financial needs analysis, investment and retirement planning.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

They will also receive a monthly transition allowance for the first 24 months to help them kickstart their career in insurance, Prudential noted.

Prudential's latest announcement comes as other industry players have similarly said they would offer more employment opportunities amid economic uncertainty brought about by the coronavirus pandemic.

In late-September, AIA Singapore announced the creation of up to 500 new career opportunities, training and financial support aimed at fresh graduates and mid-career switchers.

China Life Insurance (Singapore), which normally sells its insurance products through banks and financial companies, also noted in September that it plans to hire more than 500 consultants in Singapore over the next five years.

Meanwhile, Great Eastern in June said that up to 1,000 vacancies, traineeships and internships will be available for those looking to join the insurer's agency force.