The insurance industry offers many exciting career opportunities. If you’re looking for a new career, here are seven reasons why you should consider the insurance industry.
- You can earn a good, stable income with generous benefits.
A career in insurance is a great way to unlock your earning potential. Compensation usually includes a generous benefits package as well that includes paid time off and a 401(k) match. Furthermore, employment in the insurance industry tends to remain steady even during economic downturns.
- There’s something for everyone.
There are many different career opportunities within the insurance industry. You can work for an insurance agency or an insurance carrier. In addition to insurance sales positions, there are also opportunities in underwriting, claims and risk management. Like many other industries, insurers also hire professionals in marketing, accounting, operations and IT.
- You may not need an expensive college degree.
Some positions in the insurance industry do not require an expensive college degree. If you can get your foot in the door, the opportunities for advancement are virtually limitless. Positions that may not require a degree include sales agent, customer service representative and account manager for starters. Some claims jobs also do not require degrees. Plus, many insurers offer educational benefits so you can earn your degree or insurance license while you are working.
- The job outlook for insurance sales professionals is good.
The Bureau of Labor Statistics expected job growth of 5% between 2019 and 2029 for insurance sales agents. This is faster than average growth, and it means that people who get into insurance sales now can expect many opportunities in the future.
- Technology is making things better.
Technology is changing insurance, but it’s not replacing insurance agents. As the job growth statistics show, more opportunities are expected in the next decade. Thanks to new technology that makes certain processes easier, however, insurance agents may have more time to focus on their clients. Technology is also adding exciting new capabilities to other areas of insurance. For example, underwriters and actuaries are finding new ways to analyze data and predict risk; loss prevention professionals are now conducting remote site inspections and safety training; and claims professionals are now using drones and other technologies to improve response times.
- You can help people.
Think about what life would be like without insurance. If a fire destroyed your house or a crash wrecked your car, you’d have to pay for the repairs out of pocket – and if you couldn’t, you’d be out of luck. As an insurance professional, you’ll be in a position to help people recover from some of the most difficult times they’ll ever experience. It’s work that truly makes a difference in people’s lives.
- You can challenge yourself.
Think insurance is boring? Think again. Whether you’re helping individuals or businesses, ensuring each client is different and getting the right coverage can be an interesting puzzle. Claims are unique, too. When you work in insurance, every day can bring new challenges to keep you on your toes.
Are you looking for an exciting, rewarding new career? Discover your future with FICOH.