According to PRIAO-IRC report, the insurance industry is a professional and experience-based industry where human capital is considered as the most significant asset. Insurance industry knowledge management makes it possible to take systematic measures to share knowledge and expertise of the individuals in the realms of insurance and relevant fields among the public.

In today’s world, knowledge as an intangible capital and asset has found its niche in many organizations. In general, the added value of any enterprise is not measured based on its equipment and facilities but with its intangible capital i.e. knowledge.

Given the tacit nature of knowledge and intellectual property of any individual, if those knowledge, expertise, and competencies are not tapped, they will be gradually wasted and lost. Thus, organizations and industries in order to move forward require constant review of their knowledge assets. In other words, knowledge management as a key factor, with the added value of knowledge assets, bear profound importance.