Insurance
in the insurance industry. There is always a demand for insurance professionals as insurance is a trillion dollar business, where 3 million people are employed in the United States alone. Go through this article to know about possible career op- tions in the insurance industry.
5 Possible careers in insurance industry
There are several options to make a in- dustry. The options are discussed below.
1.
Insurance agent and broker: Insurance agents and brokers usually sell insu-
rance policies. They are the ones whom you need to contact when you want to purchase a policy. The responsibility of an agent and a broker is somewhat same; however, a broker usually sells policies from several companies whereas, an agent usually sells policies from a specific com- pany. Insurance brokers and agents tailor programs in order to fit individual needs of their clients. There are independent insurance
agents who work on a commission basis. However, there are also salaried agents who may or not get commissions for a sale.
2. 3. 56
Insurance underwriter: The primary job of an underwriter is to decide
whether or not to accept an individual’s application for the required coverage. An underwriter actually weighs the risk as- sociated with a person or an entity. These insurance professionals write policies in such a way so that it becomes profitable for the company in the long run.
Insurance actuary: You can become an insurance actuary if you want to
make a career in insurance industry. An insurance actuary is actually a financial analyst, a forecaster and a planner. Their job responsibility comprises of studying
the frequency of events that cause losses along with calculating the chances of the recurrence of such events. The actuaries also calculate the cost of the resulting in- juries and damages and recommend what price to change in order to insure against the probable risk.
4.
Insurance adjuster: It is the respon- sibility of the adjuster to inspect the
destroyed or damaged property. They also estimate the cost of replacement or repair and also assess whether or not the particu- lar loss is covered by the policy. The ad- justers sometimes need to negotiate with the policyholders in order to settle a claim that is genuine.
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5 Possible Career Options In The Insurance Industry D
o you want to make a career in insu- rance industry? There are ample opp- ortunities for success and prosperity
5.
Risk manager and loss control spe- cialist: A loss control specialist usu-
ally work with large insurance companies and associations. They design programs in order to prevent the losses before they occur. The job responsibility of a risk ma- nager is somewhat same as a loss control specialist, only difference being that a risk manager works for a corporation instead of an insurance company. It is the primary duty of the insurance professionals to look after the benefit of the company they are working for. You also require dedication and a sound know- ledge about insurance in order to make a career in insurance industry. Source:
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The Black E.O.E. Journal
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