I Want to Work In ... Insurance

 

The insurance industry offers a wide range of jobs including actuarial work, sales, surveying, claims handling and investigation, underwriting, risk management, investment management, and pensions management.

Insurance companies also recruit for general management functions such as accountancy, marketing, management services and personnel.

For an overview of opportunities in insurance see www.insurancecareers.cii.co.uk/2.opportunity.html


PROFILE: Insurance Broker
Arranges insurance for clients. Works out the requirements of clients, calculates the risks they face and suggests appropriate insurance. Negotiates with insurance companies to get the best policies for clients. Attends meetings, collects insurance payments. Clients may be individuals or organisations.
EMPLOYERS: Insurance brokers, especially Lloyd's, insurance companies.
SATISFACTIONS: Having specialist knowledge, well paid, mainly 9 to 5.
NEGATIVES: Have to work to deadlines - quite a lot of pressure.
SKILLS: negotiating, analytical, numeracy, attention to detail.
DEGREE: any subject - business or maths-related useful.

 

PROFILE: Insurance Underwriter
INVOLVES: Deciding if an insurance proposal is an acceptable risk & what premium should be paid. Preparing policies. Dealing with insurance brokers & clients.
EMPLOYERS: Insurance companies, Lloyds & insurance brokers.
RELATED JOBS: Other jobs in insurance include: insurance claims, actuary, accountant, loss adjuster, surveying, investment management, pensions management. Insurance companies also recruit for general management functions such as accountancy, marketing, management services, & personnel.
SATISFACTIONS: Flexible working hours. Subsidised mortgage & other benefits
NEGATIVES: Lots of paperwork.
SKILLS: analysing, written communication, decision-making, numeracy. Personal qualities required: communication skills, attention to detail, flexibility.
ADVANCEMENT: Can become a senior underwriter or move into other management in insurance companies
DEGREE: Any degree subject. Numeracy required.
VACANCY SOURCES: Most of the large insurance companies recruit through graduate websites www.kent.ac.uk/careers/graddirectories.htm. See also the listing below
TIPS: Talk to people working in insurance. Apply to major insurance companies early in your final year.

 

Prospects Industry Insights:  Banking, Investment and Insurance www.prospects.ac.uk/industries_banking_overview.htm
Occupational Profiles for the following career areas can be found on the Prospects website at www.prospects.ac.uk/links/InsurePen

 

The Chartered Institute of Insurance has made some additions to its suite of university degrees which receive our Recognition of Prior Learning (RPL). Holders of degrees in the following areas receive credits in to both professional qualifications frameworks – insurance and financial services:

  • Accounting
  • Actuarial Science
  • Business
  • Economics
  • Finance
  • Law
  • Management
  • Mathematics
  • Statistics

Professional bodies and Information Sources

Employers

Insurance recruitment agencies

 

For ACTUARIAL WORK see www.kent.ac.uk/careers/actuarial.htm

Last fully updated 2012