Careers and Employability Service

I want to work in Insurance

Job roles

    Introduction

      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 http://www.insidecareers.co.uk/career-advice/why-work-in-insurance/
      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

      Prospects Industry Insights:  Banking, Investment and Insurance 

    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 
    TIPS: Talk to people working in insurance. Apply to major insurance companies early in your final year.

 

 

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Last Updated: 15/06/2021