This paper crystallises out some key findings of knowledge management practices from a Finnish survey on the insurance industry. 15 Finnish insurance companies of different sizes and product portfolios are studied. We propose a model of the functioning of a knowledge sharing organization. Knowledge sharing is effective, when the learning organization metaphor is well implemented into the organization. Knowledge sharing is present in a more formal environment, in the business processes, and in a more open human interaction, the existence of which we call intellectual capital. Intellectual capital is born in the process of communication, which needs to be a core competence of a knowledge sharing organization. Communication as a core competence can exist, when there is enough of personal knowledge, human capital, an ICT infrastructure to support the communication process, and enough of organizational slack. Our analysis shows that effective knowledge sharing is in a positive correlation ...