The types of career in insurance

If you are on the lookout for a job that is both exciting and rewarding, then consider a career in the insurance industry. There are many types of jobs that are available in this business. Though having a college degree could be advantageous, a high school diploma generally is sufficient to secure many types of insurance-related jobs. This article discusses a few occupations that you can find in this industry.

Agent, broker and customer service representative

Broker and agent Insurance brokers and agents are the ones who sell policies. Insurance agents who get paid a fixed salary plus sales commissions by a particular insurer generally cannot work for other insurance companies. Independent agents on the other hand only receive commissions for every sale that they are able bring in. However, they have the freedom to work for various insurers. Brokers and agents match their clients to policies that would suit their needs and also help them when they are applying for claims. Today, there are a number of these workers who also provide risk management and financial planning advice to customers. One generally does not need to have a college degree in order to become an insurance broker or agent. Customer service representative (CSRs) CSRs in insurance agencies serve a crucial function as they are the ones who are responsible for dealing with policyholders who are filing for claims. Their job basically is to help customers get claims due to them in the quickest possible time though they may occasionally be called upon to assist underwriters and agents. Generally, you do not need to be a college degree holder to apply for such a position.

Actuary and underwriter

Actuary An actuary’s job is to study how frequent loss-resulting events occur, the odds of these events repeating, compute the estimated cost of the injuries and damage that result from these events, and make recommendations for how much to charge to cover against each risk. To get a job as an actuary, you must at least have a mathematics-related college degree. Underwriter An underwriter typically is the one who decides whether to accept or turn down a particular insurance coverage application. An underwriter uses the numbers and data provided by actuaries coupled with his own judgment in determining the risk of potential applicants. Becoming an underwriter generally would not require you to have a degree, though you may be required to have one should you aspire for management positions later on in your career.