As an industry, Insurance companies honour caution but careers in this sector have never been more exciting. Our in-house Insurance specialist, Nikki Farrugia has listed 5 great careers in this field, all of which involve continual professional growth.
1. Risk Analyst: This position requires individuals who are very inquisitive — ones who can derive information from volumes of data and numerical figures. Insurance companies are generally willing to train their employees so if you have graduated in statistics or you have studied accounts, then you can take on this career.
2. Head of Compliance: Ever since the global economic crisis hit, compliance has been enforced in every major financial industry, including insurance. Being the head of compliance involves a certain amount of responsibility since you would be required to oversee the company’s every move to ensure it is complying with the regulations of the jurisdiction it is in and also make sure you are up to date on all regulatory changes. This profession is indispensable for any financial entity.
3. Assurance, tax and advisory: Starting off as an accountant, you can then opt to become an auditor for a company whose clients include insurance companies. By doing so, you would be able to fine tune your skills and expertise in a specific sector, in this case, insurance, while practicing your accountancy skills.
4. Actuarian: Rather than merely lecturing at the local University to put your statistics degree to good use, you can choose to become an Acturian — the person insurance companies will turn to for a professional assessment to actuate various risk factors and estimate which ones are likely to occur. This role is a highly specialised one and greatly sought after.
5. Financial Sales: Insurance companies need people with great people skills, natural flair for sales and good communication — skilled or not, they must be individuals who can entice people to get on board the insurance train knowing that they have invested their money wisely. Financial sales people are essential for insurance companies and the latter are always willing to train individuals if they see they have the raw qualities to become great at selling their products.