The insurance industry is one that is diversified and wide ranging in terms of jobs and opportunities available to those interested. Careers related to the industry can be specific and centralized relating to actuaries, underwriters or claims adjusters, or they can be more decentralized relating to the broader insurance field such as data science, risk managers, or investments division.
But nonetheless, both forms of careers play a pivotal role in the industry and work hand-in-hand such that an insurance company can run smoothly. In brief, some careers and their respective mandates in the insurance industry include:
Actuary: This field of career typically requires a knowledge of mathematics, statistics methods and risk theory to calculate insurance premiums.
Business operations: Individuals in the business operations field are necessary to keep things running smoothly in the working of any large insurance companies. This would include human resource staff or compliance officers.
Risk management: Careers in risk management are central to insurance firms in order to determine how firms can prevent or mitigate losses from occurring beforehand and determine courses of action to take when risks are assumed.
Sales careers: Salespeople are crucial in the insurance industry in order to connect people and business to appropriate insurance policies and aid them to prepare for the future.
Underwriting careers: Underwriters are important part in the functioning in any insurance firm as they are responsible in deciding what should be covered under an insurance policy and how much to charge for it.
To educate and provide meaningful and engaging content for students to learn more about the insurance industry.