When you think of a career in the insurance field, chances are good that the first mental image you get is of the typical insurance agent in his or her office or on the go selling their next policy. The truth is that this is an accurate picture but a very small one in a field that has numerous opportunities for those in a wide variety of fields. This article will serve as a sampler of the careers available in the insurance field.
Insurance Agents
To most people, an insurance agent is the most common first image they have of the insurance field, and for good reason. Insurance agents are the most visible of all the insurance professions. Insurance agents normally work in one of two ways: company and independent. Company agents work for one insurance company selling only their products. An independent agent works for a variety of different insurance companies selling the products of different providers to their clients.
Claims Agent
Claims agents are another field of the insurance business that is commonly thought of in the field. Claim agents work with policy holders to assess the nature and amount of a claim that they wish to file to the company or another person who has caused them loss. Claims agents testify as to the accuracy of these claims.
Actuaries
An insurance actuary uses a variety of mathematical and statistical tools to assess the impact or potential impact of certain actions taking place on a covered person or property. Obviously, premiums are paid on the chances that something will happen to the person or property covered by an insurance policy. It is an actuary’s job to determine the degree of risk to the insurance company for covering that person or property.
Underwriter
An insurance underwriter takes statistical programs as well as actuarial data to determine and set pricing for insurance coverage. An underwriter might determine that the risk of loss to the insurance company is great, therefore either denying coverage or requiring a higher premium for coverage of a person or an asset.
Customer Service
Although customer service personnel are often not as highly skilled in their industry as others might be, customer service personnel are critical since they can provide valuable interface between the insurance company and those they wish to serve.
Above are some of the most obvious fields for the insurance industry, but it must also be remembered that insurance is also a business, one that needs many different types of support functions to operate. Just like any business, insurance companies require everything from accountants to support services such as secretaries to function properly. Although many of these can function without insurance specific experience, some cannot, instead possessing considerable knowledge in the field which adds considerably to their abilities and as a result their salaries. It should also be noted that just like many other fields, as the insurance business expands to reach customers and prospective customers who represent other cultures, those with backgrounds in these cultures will continue to be in great demand.
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