Let’s face it, everyone needs insurance, be it car insurance, content and/or building home insurance, travel insurance and so many more. Here, the Chartered Insurance Institute explain why, with the variety of insurance available, there is an insurance career for everyone too.
Technology is playing a pivotal role with how the insurance profession evolves; for example, the impact on cyber, artificial intelligence and automation of claims processing and payments. Celebrities insure their ‘talent’ – for example, Taylor Swift has reportedly insured her legs for $40 million in case of injury that prevents her from working.
The insurance profession is an inclusive and diverse place welcoming anyone who has the aspiration to learn and develop their skills. Geography graduates can bring their skills to catastrophe modelling, law graduates can utilise their skills as an insurance lawyer or in the claims function when assessing high risk and non-typical claims. Engineering, sports sciences and the fine arts are more examples of where you can apply your learning to the varied roles in insurance.
Inclusion and Diversity
The Chartered Insurance Institute, the professional body for insurance has it’s first female CEO, as does Lloyd’s of London. There are several employee resource groups and cross organisational networks providing a platform to attract, retain and work together as role models or allies in each of our diverse communities. Insurance is embracing diversity and inclusion across the country.
LINK is the LGBT+ professional network that spans the insurance sector. If you would like to find out more, please visit www.lgbtinsurancenetwork.co.uk
iCAN brings together multicultural and international employee resource groups, D&I champions, and their allies across the insurance industry to increase employee engagement, address intersectionality, and influence positive change across the sector.
GIN is the gender inclusion network that looks at ways to galvanise equality for all genders. If you would like to find out more, please visit http://www.genderinclusionnetwork.co.uk/
Similarly, the Insurance families network looks at how we can support people at work with eldercare and parental responsibilities.
A varied, progressive career
It’s easy to think that your first job might shape the rest of your career. Many people in the insurance profession enjoy a portfolio career, even in one organisation. For example, you may join a graduate scheme in the claims function. This could take you in several directions – further in to claims; or loss adjusting; or compliance; or in to a linked field like underwriting; or in to project management; or marketing. The opportunities are many!
Careers in insurance can meet your wider aspirations. If you want to work in a Fortune 500 business, apply for the large companies like AXA, Allianz and Zurich. These are companies with hundreds of billions of dollars of assets. If you would prefer to work in a small business, take a look at the thousands of local and regional brokers around the country – or the growing number of insurtech start-ups in the London area.
Do you yearn for a career that offers you the opportunity for international travel? Many organisations have offices around the world and a desire to retain and develop staff. This could means liaising with teams around the world through Skype and instant messaging or it could mean a travel to the international office.
The social value of insurance
There might be a perception that there is little or no social value to what insurance brings to our community and society. Insurance is about helping people and businesses mitigate against things going wrong and recover when things go wrong. Insurance is also an enabler. Without insurance, there would be no innovation. No insurance, no SpaceX. No insurance, no social media. No microinsurance, no way to grow a smallholding. The list really is endless. It feels good to be part of that profession.
Diverse and inclusive
There’s never been a better time to be part of this profession, which touches and affects all of the important global issues – political risk, climate change, cyber crime and ageing populations. So whether you’re an introvert or an extravert, there is a role for you in this successful, global sector.