In India's competitive health insurance sector, Niva Bupa Health Insurance is making a bold play: betting big on fresh talent to navigate the technology wave and redefine the customer experience. Recognising that traditional talent acquisition methods are no longer sufficient, the company is embarking on an ambitious strategy to bring in young, digitally native professionals, transforming its workforce from the ground up.

"We're actively building a "build and buy" model, aiming to hire 25-30 percent freshers into the workforce from top institutions like IITs and medical colleges, alongside experienced sales professionals, to reduce our reliance solely on external hiring as we grow," said Tarun Katyal, Chief Sustainability & Human Resources Officer at Niva Bupa Health Insurance.

Katyal, who spoke to People Matters on the sidelines of the 'Great Place to Work' event held recently, emphasised that the company's strategic investment in technology integration is a huge draw for young technology talent. "Younger generations, by their very nature and exposure, are much better equipped to adapt to new technologies," he said.

Beyond technology, these youngsters can become the front face of the organisation, according to the talent leader. As a retail-focused company with the highest number of retail customers among health insurers, having a young, dynamic face makes a significant difference over time, feels Katyal.

While the company plans to achieve the ambitious target of hiring more than one-fourth of a fresher workforce within a 36-month timeframe, it is aware of the high attrition rate that the industry faces.

"While we operate in a challenging industry with high attrition rates, bringing in this level of fresh talent presents a tremendous opportunity. We've given ourselves at least 36 months for this "build and buy" model to become truly successful. It's a trial-and-go process, and we believe it's the only way forward, akin to successful global organisations that primarily hire fresh talent and build from within," explained Katyal, behind the rationale behind building a younger workforce.

Katyal also believes that when these young talents achieve early success, they are more likely to stay, bringing immense value through their rapid adoption of technology and understanding of new product positioning in a competitive market. Their analytical abilities and quick adaptation to technology help them navigate the complexities of our product portfolio effectively.

Today's workforce, especially new talent, increasingly values flexibility, autonomy, and trust, thriving when given freedom to innovate rather than being micro-managed. This trend creates a growing skill and mindset gap between junior employees and middle/top management. "To bridge this gap, leadership must upskill themselves to align with the evolving expectations and technological fluency of the incoming workforce, ensuring seamless collaboration," suggests Katyal. And as an HR leader, Katyal is ensuring that the multi-generational workforce at Niva Bupa Health Insurance are aligned to leverage the full potential of emerging technologies.

However, hiring in the BFSI sector, especially in the insurance sector, presents its own unique set of challenges. Traditionally, banks and other financial services have held a higher allure for job seekers, especially at junior levels, due to perceived prestige and a lower "degree of difficulty" in achieving business results. The very act of associating with a bank is often viewed as more reputable within communities, which is what makes it even more challenging to attract talent within the insurance sector.

The most peculiar challenge lies in the nature of the product itself. Unlike a bank account or a life insurance policy, health insurance is truly tested only when a customer is in distress – during a medical emergency or hospitalisation. This makes customer service an exceptionally high-stakes, high-emotion endeavour. "Servicing customers in a health insurance scenario again, the degree of difficulty, especially on the mental side, is very high," Katyal notes. According to him, HR leaders must attract talent capable of navigating this tricky landscape – balancing empathy for distressed customers with vigilance against unethical practices. This demands a unique blend of compassion, integrity, and analytical rigour from employees.