Careers in the Insurance Industry

Insurance is a stable yet dynamic industry which provides a wealth of advancement and career opportunities. From administrative support to management programs, from sales to information technology, from accounting to customer service ... anything you want to do in business, you can do in the insurance industry. Working in insurance means assisting companies and individuals in guarding themselves against loss. As an insurance professional, you will guide customers in identifying the type, and level of insurance necessary, and help them purchase the correct policy.

Resources:

• IIABW members post job openings at IIABW's classified section.
• Washington has two strong insurance programs in higher education: Washington State University and Bellevue Community College. For more information,  click here.
• IIABW has created an internship program for people interested in the insurance industry. If you are interested in being an intern in an insurance agency in Washington, contact an agency in your community or IIABW.
• View videos about careers in the insurance industry and as an insurance agent.
• Download a brochure on careers in the  insurance industry.
• For information on earning your insurance agent's license, click here.
• InVEST, a school-to-work insurance program, teams up with high school and community college educators to provide a useful insurance curriculum for students.

Facts About The Insurance Industry:

• Insurance is a trillion dollar industry in the U.S.
• Property and Casualty (P&C) insurance is a $440 billion industry.
• Nearly 3 million people work in the insurance industry.
• Thirty-three P&C insurance companies are listed on the Fortune 500 annual ranking of America's largest corporations.
• According to the U.S. Bureau of Labor, in the next ten to fifteen years the insurance industry will grow by 20% - 40%.

Jobs in the Insurance Industry

Actuary
Uses analytical skills to predict the risks involved in insuring certain businesses and occupations. They help set prices, or premiums, which helps to decide the company's profits or losses. A good choice if you like working with numbers.

Agent/Broker
Sells and services policies to individuals and businesses. They advise customers on how to protect the things they value and which protections to choose.  A good choice if you like working with people and selling.

Claims Adjuster
Determines the extent of damage when an accident occurs and whether the damages are covered by the insurance policy. Arranges for repairs and is responsible for reaching settlements that are fair to both customers and the insurance company.  A good choice if you are a good negotiator and enjoy working with numbers.

Customer Service Agent
Serves customers on a day-to-day basis by helping to keep policies up-to-date. They may spend time adding new cars to a policy, changing coverage when a business grows, or adding a new child to a life insurance policy.  A good choice if you like working with people and have a knack for detail.

Field/Marketing Representative
Acts as a liaison between the insurance company and the agents and brokers who sell the company's products. A good choice if you can communicate and think on your feet.

Loss Control Specialist
Helps to keep accidents and losses to a minimum by examining work areas, looking over machinery and recommending safety procedures. Works directly with customers to promote safety in the workplace.  A good choice if the engineering field appeals to you.

Risk Manager
Identifies risks that their company may face and recommends how to deal with them. They help to keep their company's losses to a minimum and to control them when they do occur.  A good choice if you are interested in an analytical, management position.

Underwriter
Evaluates risk of a person or company having a loss and decides whether or not to provide insurance to applicants.  A good choice if you are analytical and can make decisions.