SECTOR SPOTLIGHT ON INSURANCE
to determine policy terms and calculate premiums taking into consideration actuarial , statistical and background information .
Claims management : This role will include managing policy claims and progressing these matters . This could involve managing the claimant and assessing whether a claim is valid . For example , pinpointing anything that may mean the full settlement can ’ t be paid .
Business development , finance and sales : These roles offer a varied career path depending on which area you ’ d like to work in . From analysing the businesses finances to finding new , innovative business opportunities and selling the service you provide , there is so much to offer .
Insurance broker : An insurance broker works on behalf of the client to select and provide the best insurance products , from an insurance company that offers the best premiums .
Actuary : This involves evaluating , managing and advising on financial risks , as well as completing forecasts and managing funds .
Loss adjuster : During this role , you are responsible for assessing the policy holder ’ s loss due to a claim , for example loss of income to an individual who was injured in a car accident . It is a loss adjuster ’ s job to check the validity of the claim . If the claim is being disputed , you would need to identify how the loss was caused .
Operations : Working in operations is at the heart of the organisation . You could be offering support for people , operations , budgets , product delivery and strategy .
Supporting roles : There is a wide range of supporting roles within the insurance industry , from technology specialists to HR and marketing professionals plus many more .
Useful Degrees
Many employers are open to hiring graduates from all degree disciplines , however , they may request a numerate or business related degree . These vary from employer to employer so it ’ s essential to check the job specification to see whether you match the requirements set . There is a wide range of degrees that would be useful for a career in insurance . These include :
• Accounting
• Business
• Economics
• Finance
• Law
• Management
• Mathematics / Statistics / Actuarial Science / Investment Analysis
Product manager : Product managers create , test and launch products within the insurance industry to different markets . It typically involves ensuring products comply with regulator ’ s requirements and delivering sales forecasting .