Have you considered a career in the insurance industry? With a variety of specialties and sub-specialties in the industry, there are lots of insurance employment options. While you may be familiar with the positions of insurance agent and broker, there are several other insurance industry jobs to consider. Some positions will have you behind a desk working in customer service, while others have you out in the field.
The insurance industry features many specializations. The industry’s well-known divisions include automobile insurance, health insurance, casualty insurance and life insurance. However, each of these divisions have sub-specialties, so no matter what you’re interested in, there’s an insurance industry job for you.
Education Requirements for an Insurance Job
Most insurance jobs require a college degree. However, some jobs like customer service representative only require that you possess a high school diploma. Different jobs have different educational requirements, but most jobs that require higher education have higher pay.
Jobs within the insurance industry can lead to rewarding careers. With a wide variety of job opportunities, a career in the insurance industry can allow you to use your unique skills and talent.
Insurance Industry Jobs
Whether you love to work with numbers, people, or both, a career in the insurance industry could be the perfect choice for you. Many of these jobs pay well and provide a career path with room for advancement. Let’s take a look at some of the available career choices.
Insurance Sales Agents
Insurance sales agents are also known as insurance sales representatives or customer service representatives. It is an agent’s job to determine strategies to sell new insurance policies or to adjust current insurance policy coverage for existing customers. Agents appraise the needs of new customers, whether the new customer is an individual or a business, to determine the best coverage to fit their needs. When someone needs to assess their long-term insurance needs, they typically speak to an insurance agent.
Insurance Claims Clerk
If you’re all about accuracy, a claims clerk job may be the right fit for you. A claims clerk reviews claim documents and forms to determine if they have been completed fully and accurately. If they find flaws in these forms, it’s their responsibility to contact the customer for corrections or clarification. This is the person who determines what the benefits of your claim are and submits requests for payment of claims.
Insurance Investigator
When an insurance company has concerns that a claim may be fraudulent, the insurance investigator is charged with determining the validity of the claim. The investigator reviews insurance claims by reviewing paperwork, interviewing witnesses and viewing surveillance footage to determine the accuracy of a claim. Investigators speak to claimants, witnesses, law enforcement and insurance adjusters to evaluate a claim.
Insurance Field Inspector
Have you ever heard of an insurance field inspector? It’s the field inspector’s job to evaluate the amount of money a property is worth. Field inspectors can work for an insurance company, mortgage company or bank. The field inspector visits various properties, assesses their condition and documents it. The field inspector is also responsible for determining potential issues for the insurance company.
Claims Adjusters
Claim adjusters investigate all claims with a focus on a claim’s financial cost to the insurance company. A claims adjuster inspects the property and conducts interviews with claimants and witnesses to determine how much money the claimant is owed. Often, claims adjusters are the first point of contact in the claims process. Adjusters will submit information to the claims examiner who continues the claims process.
Claims Examiner
A claims examiner determines if the claimant and the claims adjuster followed the appropriate processes. Legal compliance is one benchmark by which claims examiners measure the claims adjuster’s work. This is a mid-level role that is ideal for someone who complies and familiarizes themselves with regulations, is adept at making decisions and can easily oversee the work of others.
Insurance Appraiser
Do you like determining the value of a property? If so, a career as an insurance appraiser may appeal to you. An appraiser’s primary role is determining the value of insured assets and deciding if the insurance company should pay a claim. Appraisers may conduct a field investigation to determine the amount of damage to a wrecked car.
Insurance Brokers
Insurance companies view brokers as an important part of risk management. A broker is charged with informing customers of potential risks and advising which insurance policies would be most beneficial for the client. Brokers work with both individuals and businesses and may specialize in one area of the insurance industry. They communicate coverage options and make recommendations based on the client’s needs.
Financial Analysts
Do you get excited over budget analysis and statistics? If so, consider a career as a financial analyst in the insurance industry. Financial analysts use financial theory and analysis tools to help companies with financial planning. They analyze market conditions and business performance to predict revenues and expenditures, create cost structures and decide on a budget.
Loss Control Consultants
A career as a loss control consultant is perfect for someone who enjoys using their skills to analyze risks for inventory loss and theft. They also analyze the safety practices of a business to determine any potential issues. Risk assessment and analysis of workers’ compensation claims are two additional responsibilities for a loss control consultant.
Actuaries
Mathematics, statistics and financial theory are the tools used by actuaries. This career is for someone who understands the importance of risk management and enjoys developing risk prevention protocols. Actuaries offer comprehensive assessments to help businesses decide on insurance policies, make financial decisions and select investment choices.
Risk Managers
Risk managers or risk consultants are charged with developing plans to minimize the effects of loss on a company. It’s their job to identify the causes of accidents or losses and to develop strategies to minimize damage if there is a loss. Market models, operational risks, loss control policies and analytical support are all terms that risk managers understand or use.
Insurance Underwriters
Underwriters determine the risks of insuring people and their assets. They recommend premiums to counteract the amount of risk present when insuring individuals or businesses. Using software, they analyze and calculate the risk involved in working with businesses or individuals.
The Takeaway
The insurance industry offers various career opportunities for people with a wide array of interests and has many career paths beyond agent or broker. Interested in pursuing a career in insurance? Higginbotham’s award-winning culture empowers our employees to reach their fullest potential. Learn more about joining the Higginbotham team.
