categorytitle / Research Update .
  • time : 12:14:52
  • Date : Mon Apr 05, 2021
  • news code : 4719
Establishment of Succession Planning System in Iran’s Insurance Industry
The insurance industry requires a fundamental change in its present approaches toward the issue of succession. If succession models are built upon the Iranian society and culture, not only it is possible to benefit from the positive outcomes of establishing succession planning system, but it is also likely to prevent any potential negative outcomes in the future, according to PRIAO, IRC.

Human resources play the most significant role in establishing value-added in the insurance industry. On the other hand, for the organizations in order to maintain and enhance themselves in the present competitive market and in the professional insurance field, they are required to abandon the traditional approaches and acknowledge the modern organizational talent succession systems.

Given the significance of this issue, the research project “Identification of the Barriers of and Recommendation for Establishing Succession Planning System with the Aim of Competency-Based Succession Planning in Iran’s Insurance Industry” was conducted by Dr. Shahin Tayyar, Director of Insurance Management Studies Taskforce and his other team members. The study deals with the succession planning in the insurance industry, the barriers and strategies for establishing succession planning system, the intervention points in the establishment of such system in the insurance industry. It also extensively reviews succession management and its occupational and organizational outcomes in the case of establishing succession planning system.

One of the major findings of the current study is the proposal of establishing the succession planning system in Iran’s insurance industry. According to these findings, succession planning has always been a vital issue for the insurance institutes and the industry in general and as more key managers will be getting retired in near future, it is now gaining more momentum. Thus, given the benefits and advantages of succession planning system, its enhanced management model for the insurance industry through best practices, and with regard to the Iranian cultural structure and the insurance industry, its implementation deem necessary.

Those interested can download the Persian full text of the aforementioned study at http://www.irc.ac.ir/fa-IR/Irc/4944/Articles/view/16040/1266.

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