In today’s modern day world, most people carry at least one insurance policy. Insurance is what protects consumers from financial calamity should an unexpected event occur. The average person will have at least four different insurance policies: Auto, home, life and health. Because insurance is something that people will continue to need for the foreseeable future, a career in the insurance industry is a smart and secure choice. Before you start searching for current Insurance jobs, you need to determine what path you want take. Below are some of the most in-demand careers in the insurance industry.
Actuaries are a vital part of any insurance company. Their job is to analyze the financial ramifications of uncertainty and risk. Using financial theory, mathematics and statistics, actuaries are able to assess risks for business and individual clients. Armed with this knowledge, companies can implement policies that help minimize these risks.
Actuaries work full-time and most perform their duties in an office setting. Some actuaries work as consultants, which allows them to travel and meet with clients. In order to become an actuary, you must first earn a bachelor’s degree and pass a series of exams before you can become certified. You must possess strong mathematic, business and statistic skills. The average salary for an actuary is $93,000 per year, and this field is expected to grow 26 percent in the next decade.
The job of a claims investigator is to assess a claim and determine whether or not the insurance company must pay and how much they need to pay. Individuals in this field work full-time and outside of the office. They spend a great deal of time inspecting properties where insurance claims were made, such as damaged cars and buildings.
To gain an entry-level position as a claims investigator, all you need is a high school diploma. To move up in this career, you may need to earn a bachelor’s degree or, in the very least, gain some insurance experience. The average claims investigator earns $59,000 per year.
Insurance Sales Agents
Insurance sales agents serve as the sales force for insurance companies. Their job is to sell policies to consumers and businesses. They may specialize in selling one type of insurance, or they may sell various different types of policies. In addition to selling policies, an insurance sales agent will also explain what each policy entails and help consumers choose the right policy for their needs.
Insurance sales agents typically work for insurance brokerages and agencies. Some will work directly for one company. Regardless of what type of insurance they are selling, sales agents typically work in an office environment. Most insurance sales agents have a high school diploma, but many are now earning bachelor’s degrees. Every sales agent must be licensed in the state that they plan on working in.
The average insurance sales agent earns $48,000 per year. Unlike a traditional salary, insurance agents rely on commissions for compensation. This means that as a sales agent, you have the power to earn as much as you want. Job opportunities in this field are expected to grow 10 percent by 2022.