Insurance JobsInsurance is what protects our homes, cars, businesses, and other possessions against damage or theft. Insurance also helps us when we are sick, injured, or unable to work. The insurance industry is also known as risk management. It is basically hedging against the possibility of some sort of loss. The insurance industry is at a constant. As the economy fluctuates, insurance premiums may rise and fall with it but overall business is steady. Simply put, everyone needs insurance. You can’t drive a car without it, businesses need it, and most people are willing to pay against the chance of getting hurt or sick. There are several types of insurance: auto, health, life, home, commercial, disability, property, and liability. Insurance Job QualificationsThe main key to getting an insurance job is to get a state license. You will first need to check on the specific state requirements for getting a license. Each state has different rules so make sure you know them. A good way to find out is to go to your state’s official website and look up ‘insurance’. Every insurance job title, whether it is an adjuster, agent, or commercial requires a different license. There are also different policies for each type of insurance. After applying for a license you will be required to take one or more comprehensive exams. These tests are to make sure that you are familiar with laws and regulations regarding insurance. You will need to study carefully for this test. It is recommended that you get some books to help you study. Once you take the test and receive a passing grade, you will then need to file the appropriate paperwork for your license and pay state fees. Insurance Job Descriptions
Adjusters – Adjusters are responsible for calculating the amount of value for a property or item to be insured. Adjusters are also responsible for evaluating damages and losses to insured property and then assigning a payout amount. Premiums are usually recalculated based on results by an adjuster. Claims – Closely tied with adjusters, claims departments deal with managing and processing claims to insured items and property. Insurance companies staff several employees within their claims departments to handle the paperwork and filing. Sales – Insurance salesmen are needed to offer insurance to potential clients. This can cover individuals for health, life, and disability or it can cover commercial establishments for business liability. Insurance sales is usually the first job title most people start out in when they receive their state license. Underwriters – This insurance job is the process with which an insurer selects the risks to insure and decides how much in premiums to charge for those risks. This is perhaps the most complicated part of the insurance business as underwriters must calculate the probability of an actual claim being filed against the insured property. Insurance Recruiters – These are firms and individuals who provide a service to the insurance industry. Their task is to recruit insurance agents to fill positions at insurance companies and other insurance businesses. Workers Compensation – Insurance workers that deal with workers compensation are a bit more specialized. Like the claims department, worker compensation adjusters must oversee and process claims dealing with work-related injuries. The policies and regulations for filing such claims are strict and workers compensation agents must work closely with doctors dealing with the insured’s injury. |
There are several types of insurance and dozens of companies that you can work for in the industry. Some of the more common insurance jobs areas that you can work in are adjusters, claims, sales, underwriters, insurance recruiters, and workers compensation.