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Insurance Career Opportunity: what are the best opportunities within insurance careers?

There are a wide range of careers in insurance, from insurance agent careers to insurance adjuster careers, plus careers in insurance sales, insurance broker careers, life insurance sales careers, etc. In this article we look at this careers, plus a whole raft of further potential careers.

As well as different job titles there are also a number of different sectors for you to consider from life insurance careers and careers in medical insurance to pet insurance careers, plus specialist careers in risk management insurance, state farm insurance careers and farmer insurance careers.

After identifying the best career options for yourself in insurance, you may need assistance with CV writing, in which case you could consider our CV services, as we have considerable experience in creating distinctive CVs for the insurance sector.

Insurance companies

Insurance companies take on the risk of financial loss to individuals and organisations, in return for the payment of regular premiums.

Most companies specialise in either life and health policies, which tend to be personal, or property and casualty, which tend to be corporate in some respect. Sometimes, they also specialise in group or individual policies. Some larger companies cover different kinds of risks, meaning that both underwriter and agent must be familiar with the different lines. Business insurance, for instance, requires an assessment of the firm's whole operation.

Underwriters are the main link between the insurance company and the insurance sales agent. They are responsible for calculating the level of risk and therefore the size of the premium payments, before writing the policies.

The Insurance sales agents act as intermediaries and, to an extent, advisors, and rarely make decisions about accepting or rejecting applications. Their interest is to ensure that clients gain the best protection for their lives, health, and property. They either work exclusively for one insurance company, or act independently as brokers, representing several companies. In addition to selling policies, agents and brokers may help clients to submit their claims after a loss.

Occupational Careers in Insurance

The following administrative support occupations, including clerical, account for 40% of insurance-related jobs:

  • Insurance policy processing clerks.
  • General office clerks.
  • Insurance claims clerks.
  • Office and administrative support supervisors and managers.
  • Secretaries.
  • Adjustment clerks.
  • Bookkeeping, accounting, and auditing clerks.
  • Receptionists and information clerks.
  • File clerks.
  • Word processors and typists.
  • Data entry keyers.

Executive, administrative, and managerial occupations comprise most of the remaining percentage, including:

  • Insurance adjusters, examiners, and investigators.
  • General managers and top executives.
  • Insurance underwriters.
  • Claims examiners, property and casualty insurance.
  • Accountants and auditors.
  • Financial managers.

Marketing and sales occupations include:

  • Insurance sales careers.
  • Marketing and sales worker supervisors.

Professional specialty occupations include:

  • Computer systems analysts, engineers, and scientists.

Technicians and related support occupations include:

  • Computer programmers.
  • Legal assistants and technicians, except clerical.

Typical tasks in insurance careers

Insurance Sales Agents often visit prospective and existing customers' homes and places of business to market new products and provide services. On a typical day, the agent's work might include:

  • Preparing reports and records.
  • Identifying possible new clients.
  • Helping policyholders submit claims, if they have suffered a loss.
  • Offering and/or providing other financial services.

Underwriters are usually based in the insurance company's head or main office. Some of those working in property and casualty can be based in regional offices. Underwriters assess known risks by:

  • Analysing data held on software applications.
  • Studying consultants reports.
  • Requesting and analysing medical reports.
  • Assessing reports from actuaries.

An increasing number of employees are spending time working by phone in call centres, undertaking the following tasks:

  • Answering questions.
  • Providing information.
  • Entering data to produce quotations and estimates.
  • Taking claims information.
  • Answering medical questions.

Claims adjusters often have to travel to clients' insured properties to inspect damage, in addition to processing the financial aspects of paying claims.

Would a career in insurance Suit You?

Many insurance sales agents and claims adjusters work irregular hours outside the office. They frequently arrange their own hours, which include evening and weekend appointments, i.e., when their clients are available.

Underwriters often work a standard office week, yet can be called on to do longer hours. Many are based in the company's head (or "home") office, but may attend conferences and meetings at some distance, meaning they must be away for a few days.

Many administrative workers put in a standard office week. Executives and managers may do so, but frequently work longer hours.

Call centre workers operate on daytime, evening and weekend shifts. Nearly 10% of this workforce is able to work part time.

For underwriting jobs, you will usually need a degree in business administration or finance, with courses or experience in accounting. Yet if you've done a different degree and have additional courses in business law and accounting, you may still qualify. Computer knowledge is essential. Once employed, you will benefit from the insurer's own training programs, which will prepare you for advancement in the company.

To gain employment as an insurance agent, you will need to have a decent standard of education, plus proficiency in maths. A confident manner and the ability to interact with a lot of people is essential, plus a good memory and the ability read through a lot of information about different insurance products. Attention to detail and the ability to use a computer are also important.

Salary and Prospects for Insurance Careers

Employment of sales agents and underwriters has slowed down, due to the advances made through development of software applications that considerably decrease data processing time. Mergers of insurance companies have also led to few positions and jobs being combined. Currently, the new jobs are in the growing fields of insurance, such as retirement planning and long-term care insurance. Career prospects continue to be better in health / medical insurance, rather than property, casualty and life insurance.

A successful insurance sales agent who also has strong organisational and people skills may advance to become a manager in a local office. Sometimes it is possible to advance to an executive position. However, once a good client base has been built up, it's often better to remain in sales work, gaining a good sales commission. Some may go on to establish their own independent agency or brokerage firm.

Need a Great CV for an Insurance Career?

With so much competition for insurance jobs, you'll need to improve your CV to attract an insurance company's interest - CV companies can dramatically improve your CV.

Professional CV writers understand what insurance companies expect to see on your CV and can make your CV stand out, so you can be confident that you'll get the interviews you deserve.

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