INSURANCE Insurance Careers and Recruitment By Timothy W McDonald I
f you are looking to start a new career than you might be interested to know
that the insurance industry can offer you a broad spectrum of career op- portunities. If you have a strong back- ground in math and great people skills than pursuing a job as an insurance ser- vice representative or an underwriter may just be the path you want to take. Though these positions usually require a college degree and some even require an insurance license both of which are fairly easily obtained if you have the drive to succeed. There are generally 5 different fields
that you may want to pursue as an insurance career, the first that will be talked about is agents and brokers. Agents or brokers may also be known as insurance producers who offer their clients insurance products and keep their policies up to date. They will usu- ally solicit business over the telephone or web but may also have offices where possible clients may walk in to obtain a new policy. A producer must be li- censed to perform their duties and sell and service insurance policies. On av- erage an agent or broker will earn an annual income of about $34,322. Another insurance based career you
may want to pursue is an underwriter. Once a producer has taken an applica-
tion from a prospective client they send the completed application to an under- writer. The underwriter will then re- view the application to ensure that the applicant is eligible for insurance from the company. They may then approve the application, contact the agent and ask for more information pertaining to the client or decline the application if the prospect is ineligible. An under- writer may also review current poli- cies and if claims are excessive cancel it. The insurance underwriter usually earns about $47,955 annually. The next career to be explained when
looking for a job in insurance is actuar- ies. Actuaries determine what the pre- miums of an insurance policy will be, they analyze statistics and determine what the probability of a claim being received will be. They may also keep track of the company’s cash reserves to make sure there is enough cash on hand to pay out any future claims. Actuaries will also help write the ac- tual policy and provisions. The aver- age annual salary of an actuary may vary widely and range from $55,798 to $97,028 based on what the actuary is handling for the company. A career path that you may be inter-
ested in is a claims adjuster. A claims adjuster is the person who will assess
any claims and decide what the proper amount of money to be paid out is. As an example if a client is involved in a auto accident the claims adjuster will examine your vehicle and assess the damage done to the vehicle and give the client the necessary amount of money for the repairs. Adjusters are usually required to travel as they will often have to visit a policy holder’s home. An adjuster will generally earn about $44,741 per year. The fifth and final insurance career
that will be discussed is the service representative. If a client ever has a question or problem with their policy they may call the insurance companies headquarters, these clients will usu- ally deal with a service representative. A service representative will answer a clients question about billing or make general changes to a client’s policy, such as adding a driver or changing your address. In some cases a repre- sentative is required to hold a valid in- surance license. The average pay scale for a service representative is $32,328 annually. So now that you know the different
types of careers you can get into with an insurance job it may make it easier to decide if this is a field you want to get into. You may need to get some ex- tra schooling or obtain your insurance license but if the field of insurance in- terests you it will not be that big of a deal to take the time to obtain either one of these simple pieces of paper. If you are looking to obtain a career in
the insurance field than you should check out
insurancejobstoronto.ca where you can post your resume and browse all the available insurance jobs in Toronto and across Canada.
Insurancejobstoronto.ca also has many of great links to more in- formation on getting into a career with a
well respected insurance company. Source:
ezinearticles.com
40 HISPANIC NETWORK MAGAZINE Celebrating 19 Years of Diversity
www.hnmagazine.com
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