Insurance is an essential and diverse industry that impacts almost everyone, from individuals who need insurance for their homes and vehicles to businesses that need workers’ compensation coverage. Almost everyone needs some insurance coverage. Whether you want to start your enterprise or work for a larger company, a career in the insurance industry can provide you with an opportunity to, among other things, create a job quickly, work in an established enterprise, learn a wide range of skills, and advance your career. Read on to learn why choosing a career in insurance is a smart initiative.

The Benefits of Working in the Insurance Industry

By working in the insurance industry, you’d be able to:

1. Serve Your Community

An insurance career can help you fulfill the desire for community involvement and meaningful work. The insurance industry is fundamentally about serving and protecting community members. For instance, insurance can help pay for medical expenses of employees injured at work or rebuild a home destroyed by fire. By encouraging people to share risks, insurance helps protect communities when tragedy strikes. In addition, insurance firms often support local charitable initiatives, including disaster relief, animal shelters, and children’s organizations.

2. Enjoy Plenty of Opportunities

According to industry projections, nearly 50% of the insurance industry workforce will retire by 2028, opening up plenty of opportunities for advancement and employment. Unfortunately, many people aren’t aware of the benefits of working in the insurance industry, with only 4% of millennials showing interest in insurance. However, this means there are plenty of opportunities for anyone seeking an insurance career.

3. Develop a Wide Range of Skills

The insurance industry touches all fields and offers numerous career paths. Insurance companies look for individuals skilled in the following areas:

  • Analytics
  • Organization
  • Problem-solving
  • Technology
  • Research
  • Communication

The insurance industry typically evolves with clients’ needs. Therefore, to cater to the modern customer’s needs, the industry also needs highly skilled workers in digital marketing, cyber communication, and social media.

4. Enjoy Job Security

The insurance industry has been around for many centuries and will always be there provided people need to protect their health, homes, businesses, and vehicles. During recessions, the insurance industry remains stable compared to other fields. That’s because regardless of what’s happening in the economy, businesses and people still need to protect themselves against risks.

Get Started Easily!

There are numerous roles in the insurance industry, and getting into some of those roles is relatively easy. For instance, you only need a high school diploma to become an insurance agent – work experience isn’t necessary. Other in-demand insurance careers include:

  • Insurance Underwriter – An underwriter determines the risk involved in insuring a client.
  • Claims Adjuster – An adjuster looks into insurance claims made by clients.
  • Actuary – An actuary helps insurers determine as well as set premiums.
  • Risk Consultant – A risk consultant assesses the risk that comes with ensuring given items.
  • Claims and Policy Processor – A claims processer handles the paperwork when a client files a lawsuit.
  • Insurance Sale Agent – The agent is responsible for selling policies to clients.
  • Customer Service Representative: A customer service rep links the insurance company and the clients.
  • Insurance Agent Trainer – A trainer is responsible for training insurance agents.
  • Insurance Broker – A broker helps businesses find the insurance coverage that suits their needs.
  • Corporate Finance Officer – A finance officer deals with the financial matters of insurance companies and oversees the daily operations.

The insurance industry offers plenty of career opportunities. If you’re looking for personal or business insurance, the experts at Tompkins Insurance Agencies can help you find customized and cost-effective solutions. Contact us today to get started.