The world has already seen the wrath of the unprecedented pandemic that pushed businesses to quickly adopt digital technologies and switch to remote working models for continuity. During this transition, when companies are struggling to stay afloat, upskilling and reskilling have suddenly taken the front seat.  

It is now more important than ever to accelerate your learning process and develop new skills to stay competitive in today’s rapidly evolving business landscape. Against this backdrop, MDRT members share the growing importance of upskilling and reskilling to sail through any transition, including the ongoing pandemic. 

Upskilling or complete reskilling, or both? 

Nishith Shah, a five-year MDRT member: 

“To be honest, both elements are essential in today’s job scenario. For instance, I have been in this profession for the last 19 years. Given this, my working style will be undoubtedly different from a person who has recently joined this field. Being a part of this generation, it is expected from today’s fresh graduates to be more tech-savvy than the preceding generation. To fill this skill gap, I need to reskill myself in terms of technology.  

Being in a profession where the client gives his hard-earned money to invest, it is essential for insurance advisors to stay updated with law and situations regarding investment policies, ensuring that the client doesn’t suffer due to their ignorance. Hence, one should always continue to upskill and reskill as per the changes in the industry and for the benefit of client, society, community, and the entire country.”   

Tools to upskill or reskill 

Surojit Kala, 12-year MDRT member: 

“The pandemic has not only taught us the value of wealth management but has also shown the importance of upskilling and reskilling. While upskilling helps to develop oneself as the best, reskilling can benefit in improving client services. Several times we find our clients to be overburdened with certain situations, which often trouble them. Reskilling might help in accomplishing such jobs. It also helps gain client satisfaction and spread the brand value as one of the most client prioritising services. Hence, a proper balance between both aspects is needed to run a successful business.  

Advisors must subscribe themselves to new-age learning programs that are based on behavioural science insights and tailored to build crucial skills within specific cohorts. These programs give access to customized learning under the guidance of industry leaders and experts on the back of continuous learning embedded in daily work. At an evolving juncture like this, learning digital skills is the most important thing to do in order to explore and bank on the newfound opportunities of digital-first world. This practice should be at the heart of every insurance consultant or advisor to excel in this advancing world.” 

Is reskilling more important than upskilling?  

Ketan M Jhaveri, a 12-year MDRT member: 

“As the world is changing very fast and we have to be ahead of others, it is pivotal for us to change our work style and keep learning new things. Therefore, reskilling to some extent is more important than upskilling at this moment. We can do this by attending training from senior and experienced personalities. For instance, attending MDRT meetings and learning from successful advisors. We have to upgrade ourselves by leveraging technology at its best and reading good books that help us reskill and make us more knowledgeable and confident to face the customer and close big calls without any hassle.”  

Contact: MDRTeditorial@teamlewis.com