Career Opportunities In Insurance: 30+ Jobs You Can Explore
The insurance industry plays an important role in the world has it helps homeowners as well as business owners protect their valuables in the case of unforeseen occurrences. Having a career in insurance is impactful and dynamic as it offers you a wide range of job varieties to pick from. Choosing a career path in insurance is promising and favourable as it provides a wide range of benefits and opportunities you can tap from as it is a large industry. The insurance industry basically provides protection for everything to make the world better place. It presents you varieties of opportunities you can earn from.
7 reasons why you should consider a career in insurance
Most people who want to choose a career path might not consider the insurance industry because they feel they don’t have the necessary skill or it is not an industry one can earn well from. Over the years, the career opportunities in the insurance industry has increasing with a lot of opportunities presenting itself for whatever skill(s) you might possess. Considering a career in insurance is favourable and this article provides you 7 reasons as to why you might consider to choose and start a career in insurance.
- Job Varieties: The insurance industry offers a wide range of job varieties you can explore from. Various jobs ranging from claim adjusters to underwriters are quite appealing with a very attractive earning. The opportunities in this industry are not limited as insurance in very much high in demand and is a very stable industry with a steady increase in growth.
- Job Security: Choosing insurance as a career path guarantees you a certain level of job security because insurance is needed everyday and every time to provide the necessary protection. No matter how things get bad and the world changes, insurance would still be relevant because it is needed by individuals, corporate institutions and also the family to keep secure their valuables.
- Flexible work schedule: Working in the insurance industry doesn’t require you to spend all of your time at all work. You get the freedom to sometimes plan your work schedule and how you want to work.
- Opportunity to learn new skills: While working in an insurance industry, it presents you variety of job roles you can work in which helps you to develop new skills and an on- the job training that improves your skills and improve your careers as well as increase your chances of getting more opportunities.
- High Income: Everyone needs an insurance policy at one time or the other whether it’s an health, travel, home or auto insurance. Helping people get the best insurance coverage is equal to getting a rewarding earning than most industry can ever generate.
- Encourages service to humanity: The insurance industry encourages giving back to the community either through charity or by assisting people insure their homes, businesses and valuable assets. The industry is driven by rendering service to people whenever they are in a difficult situation.
- No need for an impressive qualification: This industry have numerous career path you can choose from with whatever qualification you possess. Most times you don’t need to possess the highest or best qualification before you can start a career in insurance. It allows you become better and gain new skills as you advance in the industry.
30+ jobs you can explore in the insurance industry
One of the opportunities the insurance industry presents you is the ability to choose from the varieties of jobs available without having to really bother about whatever level of qualification you have because there’s a job that fits whatever skill or qualification you possess. This article gives a detailed number of jobs you can explore and choose from in the insurance industry.
- Claim Adjuster
A claim Adjuster can also be referred to as an insurance adjuster. They work and represent the insurance company. They help to survey and examine the extent of the damage done on the property or asset of the insured in order to calculate the amount that would be paid by the insurer (insurance company) to the insured (policyholder). A claim Adjuster can either work as a public adjuster, independent adjuster or a company adjuster. According to research the highest paid adjuster is an independent adjuster.
- Determine the extent of the damage
- Prepare and Process claim reports.
- Negotiate the claim amount to be paid to the insured.
- Insurance brokers
They act as the middleman between the insurance company and the policyholder. They help the insured choose the best policy that suits their needs.
- Help to get new customers for the insurance company.
- Help the insured by meeting their insurance needs.
- Advise customers to choose he best insurance policy.
- Risk Surveyor
They are referred to as Insurance risk analyst. They are charged with the responsibility of doing a proper assessment of the assets or properties to be insured, the financial risk associated with insuring that asset, then gives the underwriter who then works on how to reduce the risk or decided on whether an insurance cover should be given.
- They evaluate the risk of properties, employees or vehicles by carrying out an extensive research.
- They carry out a detailed assessment of what is to be insured.
- They provide the necessary information to underwriters so they can work on identifying and reducing the risk.
- Insurance Technicians
They are responsible for gathering the necessary information of existing and new potential customers, be available to answer their questions as well as confirming claim details and making sure they are paid. They work alongside an insurance brokers.
- They make sure claims and premiums are paid as at when due.
- They advise customers about their insurance policy renewals.
- Gather important and necessary information of customers.
Underwriters are professionals who determine whether insurance should be provided for a particular property or not and under what terms should it be provided. They give a detailed analysis on the risk of insuring a person or an asset, individuals or businesses.
- They provide a detailed analysis on the risk profile of an insured property, person or business.
- It helps the insurance company to decide on if they should or shouldn’t provide an insurance cover to a person.
- They help prepare the appropriate terms and conditions of an insurance policy.
- Insurance sales agent
They sell the various insurance coverage available to old and new customers. They assist customers to choose insurance plans that benefits them.
- They help the insurance company get new customers.
- They educate potential customers about the various insurance types and covers.
- They assist the insured in filing for their due insurance claim.
- They advice the insured to select the best insurance policies that suit their needs.
- Catastrophe modeller
They make use of models to estimate and calculate the loss from natural disasters like storms and earthquakes. They analyze the losses that could happen at the occurrence of a catastrophic event then report their findings either to underwriters or actuaries.
- Loss Control Consultant
An insurance loss control consultant help to determine how insurance companies can control and reduce their loss. They offer various range of solutions to the insurance companies so that they can over the best yet a cost- effective coverage.
- They help insurance companies set appropriate cost for their various insurance policies based on the risk factors.
- They help to control and mitigate losses on behalf of the insurance companies.
- Risk manager
They ensure that the risk of the insurance companies are properly managed and minimized, making sure they are protected while they work to increase profits and minimize costs. They assist in reviewing insurance claims to verify their authenticity and check if they should be paid or not.
- They carry out a proper assessment of claims to check if they are valid and authentic.
- They help insurance companies mitigate their risk by maintaining a proper record of assets, persons or businesses insured by the company.
- Field Inspector
Insurance field inspectors are responsible for carrying out the necessary investigations and inspections on the properties and assets of potential customers in order to process their claim as included in their insurance policy. They ensure they make the necessary negotiations with the insured.
- Insurance lawyer
An Insurance lawyer provides legal advice to their clients who have questions or issues regarding their insurance claim. They make sure the insured is protected Frome the illegal practices of insurance companies and ensure their claims are paid as contained in the insurance policy.
- Claim examiners
They assist claim adjusters in the process of verifying a claim. They review insurance claims to ensure both the insured and the claim adjuster followed the right process during the examining band investigating phase of filing a claim. They also have to review the payment of policies as at when due .
- Financial analyst
They play an important role in determining the present and future value of the insurance company as well as ensuring that all policies are accurate and up-to-date. They evaluate different insurance policies to examine the risk involved for the insured as well as the insurance company.
They make use of statistics and financial theories to ascertain the level of risk of unexpected events and help insurance companies put in place policies that help minimize cost of risk. They make sure risks are measure med and managed appropriately.
- Insurance appraiser
Whenever a damage is done either by theft or natural disasters, an insurance appraiser would evaluate, investigate and calculate the loss of the damages asset as well as the total value of that asset. They also play a role in determining whether an insurance claim should be paid or not and send their findings to an insurance claim adjuster.
- Data analyst
They are charged with manipulating data in order to ascertain the level of risk associated with providing a particular insurance coverage. They collect, analyse and process the data to arrive at a valuable insight to scale the daily operations of the insurance company.
- Insurance investigator
They investigate and inspect the various insurance claim in an insurance company to ensure they are authentic. Insurance companies employ an insurance investigator when a false claim is detected or suspected.
- Insurance risk analyst
They help to analyse and assess the risk that could occur from providing an insurance coverage. They are on the lookout for risks that are associated with insuring an asset or property and how it can be properly managed. They analyse data, check past claim records, review prices with that of competitors to ensure the insurance company operates while keeping cost at a bay.
- Claim specialist
A claim specialist ensures that when an insurance claim is filed, researches are carried out to gather important evidence regarding the claim.
- Insurance Estimator
They work for insurance companies and are responsible for settling dispute between the insurance company and the insured. When an event that causes damage or loss occurs the insurance estimator check the damages that has occurred and estimate the amount to be paid as claim.
- Compliance Officer
Compliance officers are needed in insurance companies and their responsibility is to ensure that the insurance company are in line and acting according to mandatory laws, policies and rules.
- Insurance business analyst
They are individuals who understand the insurance industry well and they make use of their knowledge about the insurance agency to bring about a transformation in the industry. They analyse the changes in the industry from time to time and determine how it affects the operations of the industry.
- Insurance customer service representative
They are basically charged with the responsibility of resolving problems that the insurance customers are facing and recommend the insurance product to new potential customers and also educate customers about the best insurance plan that suits them.
- Financial Representative
They can also be referred to as insurance advisors. They provide the insured with detailed information about the best insurance plan they can sign up for . They advise clients to select from the various insurance plan that can help them achieve their individual and family goals.
- Insurance Provider
They are licensed to sell insurance products to customers on behalf of the insurance agency. They must possess adequate knowledge about the various products of the agency so it enables them to sell well and to the right target audience.
- Auto appraiser
They work on behalf of the insurance company or agency to determine the extent of the damage done on a vehicle and calculate the amount required to restore it to its former state. They make sure a proper investigation and analysis is done concerning the cause of the damage, extent of the damage and how much should be issued out as claim.
- Insurance claim clerks
Insurance claim clerks are responsible for checking the accuracy of insurance claims. They check from time to time if the claim forms are accurate and up-to-date.
- Insurance corporate finance officer
They carry out administrative, financial and risk management duties for insurance companies to ensure its growth. They handle all the financial operations and solves the financial issues of the insurance company. Insurance corporate finance officers monitor the finances and advise the insurance companies on the best financial decision to take.
- Client retention officer
They work towards retaining customers by using the best strategies to get customers that would continue to patronize the products of the insurance company. This is achieved by having a good relationship with customers and ensuring that every feedback gotten from them are worked upon.
- Insurance account executive
Insurance executives ensure the smooth running of the insurance company, make use of tactics that ensures the business grows, provide the best customer service and sell to them the most affordable and suitable insurance plan.