Pacific Life Re Limited Mock Interview
Practice 28 Pacific Life Re Limited interview questions covering reinsurance expertise, risk assessment, and technical insurance knowledge.
Question 8 of 28
How do you feel globalization has affected the Insurance industry?
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Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
Globalization is a business concept that encourages international trade in order to strengthen the economic situation between Countries. Discuss with the interviewer your thoughts on how this practice may be affecting the Insurance industry.
Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
"I feel that globalization has forced many companies to be creative and flexible when it comes to their business insurance needs. Namely, companies who now have international offices, hire offshore employees, and who participate in global trade. It has caused the Insurance industry to think outside of the box and has, in my opinion, created some very thought provoking challenges."
Rachelle Enns is an interview coach and job search expert. She works with candidates to perform their best in employment, medical, and post-secondary admission interviews.
"I think that globalization has made the insurance industry more competitive; thus, creating a greater need for good reviews and customer satisfaction. Customers are better educated and that holds the entire industry more accountable."
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I think that globalization has increased the need for innovation in the insurance industry, increasing the pool of competitors. Pacific Life Re is an example of a company that has used globalization to its advantage and has expanded to have offices and employees worldwide, as it can be difficult to truly understand a foreign market without specific local knowledge.
Rachelle's Feedback
Great perspective! If you can, try to include some information/a statement regarding how this approach to globalization has benefitted Pacific Life.
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