Insurance Careers

Insurance is a stable industry that employs several million people in the United States. Insurance protects individuals and companies against loss and compensates the policy holders, according to the terms of their policy. Those in insurance careers determine the risk of their clients and transfer the risk to the insurance company. There are several main types of insurance: home, property, automobile, life and health insurance. There are many types of undergraduate careers in the insurance field, from sales to customer service to management, and most entry level jobs require only a bachelor's degree.

Those in insurance careers consult with clients to determine their insurance needs, explain the policies in detail and help them with their policy purchases. Employees in the insurance field need to have good communication skills, as they regularly work with clients and need to listen to their concerns. Initiative and sales skills are also important, as those in insurance careers need to be able to inform clients about their options and persuade them to purchase the company’s insurance products.

Not all those employed in insurance careers sell products. Actuaries determine risk by using statistics and analysis. They use this information to advise how much to charge for a specific policy. Underwriters use the risk to determine if they can provide insurance for the client. If a client poses too high a risk, the insurance company may decline the application for insurance because it will end up costing the insurance company money. An underwriter may also decide what prices to charge for specific policies. The position of loss control specialist constitutes another type of insurance career that does not require selling; he or she helps prevent loss by visiting businesses and checking for possible hazards. A loss control specialist can benefit from a background in business or safety management. Those who work for health insurers may promote preventive healthcare or accident prevention.

Those interested in insurance careers should know that the demand for insurance is rapidly rising. This is due to an increase in complex risks, as well as to many companies providing new types of employee benefits that will generate new business for the insurance industry. Health insurance and malpractice are two hot fields in the industry. In addition, those with an IT background will see many opportunities.