The insurance industry may not be the first field that comes to mind when young people are thinking of their dream job, but in reality, it’s one of the most solid options around.
This is true if you’re embarking on the first steps of your lifelong career journey, and equally so if you’re already part way down the road and looking to make a career switch. One thing to note is that working in insurance actually covers a wide range of job types. This means that you can find a position to match your skills, preferences, and ambitions.
Roles include working in technology and data analytics, for those of you who are proficient with IT and programming. There are positions in sales and marketing, and customer service; all ideal if you’re a great communicator and skilled at putting people at ease. You can train for a property and casualty license if you want a specialized selling role. Or perhaps you’d prefer working in the legal area, claims, or finance.
Working in insurance is actually difficult to classify, because there are so many different routes you can take. But what’s certain is that it’s an industry that offers a great many benefits.
Get started with ease
At entry level, salaries in the insurance business tend to be higher on average than entry level in other sectors. You’d likely be looking at something, entry level, between $44,000 and $52,000 per year. As you climb the ladder, you can expect that your salary rises satisfactorily, allowing you to save adequately and live very comfortably.
Furthermore, there are no intimidating barriers to entry in the insurance industry. For many roles, you can get a job without higher level education or extensive experience. In other words, it’s not the type of job that calls its starter positions entry level, but then lists specialized requirements that few truly beginner level entrants are likely to have.
If you’re employed in the insurance sector, then the outlook is positive. For example, predictions from the Bureau of Labor Statistics state that insurance sales agent jobs will increase in number by 7% by the year 2030.
That’s the kind of moderate but steady growth that you can rely on. No wild fluctuations, and low degrees of risk, mean such predicted outcomes are a safe bet. It’s simple really, people and communities will always continue to need insurance, so it’s an industry within which you can feel secure and make long-term plans.
Train on the job
Once you’re in, while you may feel ready to get to work, you likely need to learn more about what to do, and undertake some training. The majority of companies are forward-thinking and pragmatic, and will have you complete your training as you work. There may be in-company training courses, to make sure that new employees are confidently familiar with critical procedures, and with the laws and regulations they must comply with. You’ll almost certainly have the chance to acquire certification and professional accreditation.
Enjoy a flexible and diverse schedule
Although it’s not always possible to work from home—it depends on the company and your role within it—an increasing number of organizations are offering the opportunity for remote work, or a mixed schedule.
In terms of when you work, and what you have to do, expect flexibility and change. It’s increasingly the case that employers let staff work out their own schedules and manage their hours from week to week. The tasks you do will vary, and there’ll be plenty of opportunities to pick up fresh skills and put your mind to new kinds of tasks.
Make a difference
While income, advancement and opportunity are critical factors when deciding a job, another important requirement, sometimes overlooked, is satisfaction. You might even go further and say that a really well balanced career gives you a sense of contributing to something greater than just yourself. Being a part of the insurance industry gives you the opportunity to really help, both at an individual and a community level. Additionally, the insurance industry contributes considerably to the charity sector.
When someone suffers a serious loss, whether that’s property or losing a loved one, they contact their insurance provider, whose responsibility then is to provide support. If a disaster hits an entire community—imagine a flood or a storm ripping through a town, for example—then it’s insurance providers who must be on hand, organizing the resources to allow the repair and rebuild efforts to begin.
Shape the future
You’ve probably noticed that the world is changing significantly. We’re in a period of rapid advancement, in which technologies such as AI and Machine Learning are altering the nature of work. At the same time, though, people are wary of becoming overly automated, and often value a personal, even traditional experience.
In the insurance industry you’ll need to find a balance, and will help to define how the sector moves forward. You can be using all the latest tools for data analysis, marketing, and finance, while also helping people on a personal level, and gaining their trust.