Stability And So Much More - The Many Benefits of Working In InsuranceJune 18, 2021
Pursuing a career in insurance is an exciting, dynamic opportunity where you can expect lots of benefits. Stability is only one significant benefit; there are many more compelling reasons to start a career in insurance.
Here are 11 great things about working in insurance that you may have overlooked. When finished, reach out to us at Duliban Insurance Brokers to discuss your future career in insurance.
Insurance is a reliable and stable field, which means you’ll have consistent income coming in every month. There will always be a need for some type of insurance coverage, whether you pursue a career in personal or commercial lines. The P&C industry alone in Canada employs over 130,000 people and holds $187.5 billion in total assets (2019). This helps to show the scope of the sector across Canada.
Equally crucial as stability is to many people is flexibility, and an insurance career is exactly that. Many employers offer variable work schedules long before the pandemic changed the way we work – 4-day work weeks and non-traditional hours are standard practices.
Telecommuting, hoteling, and working from home have been commonplace in the insurance industry for some time. This means you can design your career to fit your life, not the other way around.
The insurance industry drives innovation, safety, and risk controls in many industries. You can feel good about working for the insurance industry, knowing it helps people in many ways beyond covering them with an insurance policy.
For example, insurance companies can refuse to write policies for industries they deem harmful, such as coal or tobacco. Or carriers can write controls into their policies, forcing their policyholders to do more to eradicate slavery within their global supply chains, helping to protect people worldwide.
The insurance industry values diversity and recognizes the critical contributions of everyone on the team. Historically, insurance has developed through partnerships of people working together. That same trend permeates through Duliban Insurance Brokers and many other insurance companies today, making it a great place to work for people who value diverse thought and inclusive teams.
One great thing about insurance is there are plenty of different career paths and opportunities to pick from – so if you think you do not want to sell insurance, that is fine! There are many other ways to work in the industry. Roles like IT, HR, product development, attorneys, accountants, writers, and social media experts are all needed within any insurance company. You can reinvent yourself and change your job description many times during your insurance career.
6. Continued Education is Valued
Insurance is highly regulated, and the field is ever-changing based on new legislation and case law. This means continuous industry education is critical to keeping current and up to date. Employers value employees that want to keep developing their skills through insurance classes and designation programs.
Some employers pay for courses and other learning programs to ensure their employees continue to develop themselves. If you are licensed, you will likely have to take courses to maintain your license every year. This is great for people who love to learn and expand their skills in new and challenging ways.
7. Interesting Work
I know what you’re thinking: Insurance can’t be exciting, right? In reality, Insurance is an exciting field with many different engaging jobs. People who work in claims are good investigators and negotiators, and they see many interesting claims on a daily basis.
Working in sales requires you to think on your feet and be creative and lets you constantly meet new people. Product and IT developers have to think about future and current needs while balancing budget constraints with greenfield development. Underwriters consider how to make risks acceptable, and risk managers and loss control experts work with clients to develop safety plans and help people lower their risks.
There is something for everyone in the insurance industry!
Right now, it is a great time to join the insurance industry. Many different innovations are happening in all sectors through technology advancements. Insurtech – the idea of employing technology to drive efficiencies in the insurance industry – is changing the way we work.
The industry is in the early stages of using exciting technology like AI, robotics, and blockchain to serve customers better and make life easier for employees. Did we mention that it’s an exciting time to start a career in insurance!
9. Giving Back
Insurance companies value volunteerism. Duliban Insurance Brokers and other agencies have regular volunteer days and encourage employees to spend time at charitable events during working hours. Some companies give every employee hours off to volunteer where they would like, while others organize workdays at charities to help others.
Being a part of their community is an integral value for insurance companies, especially since they are in the business of rebuilding and helping people after a tragedy. If you share this value of volunteerism, working in insurance may be the right fit for you.
10. Shape the Future
Insurance is dynamic – it is constantly changing in response to the world around us. By joining the industry now, you have a chance to shape the future. Policy language changes as the industry responds to catastrophes, and people working in the industry directly influence this.
For example, following on the heels of COVID-19, business interruption denials policy language is being re-written to more specifically cover or deny pandemic losses.
11. Starting Your Insurance Career is Easy
It is easy to start working in insurance, even if you have no experience. On-the-job training is common at insurance companies, and you can often start in a customer service role and work your way up.
Because many carriers and agencies offer industry education, it is simple to learn quickly while working in insurance. You can expect to develop your skills while learning your job and helping people.
We can help you sort through the different possibilities and find the right insurance career for you – contact us today for more information.
How do I Learn More?
To learn more about the many benefits of working in insurance, contact the experts at Duliban Insurance Brokers. Our licensed experts will be happy to answer any questions you have.
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We partner with over 25 different insurance companies that fight to earn your business.
With multiple provincial and national recognition awards, it’s no wonder why our clients rave about us.
We make sure that you understand your policy without confusing you with complicated insurance jargon.