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Insurance Adjuster Jobs

An adjuster investigates claims as an insurance company representative and prepares files for a claims examiner. As a claims adjuster, you would work either directly for the insurance company or for an agency that the insurer contracts with. This job involves examining damaged properties or suffered injuries, collecting witness testimonies, communicating with lawyers and police, consulting specialists like engineers or architects, and finally, deciding whether the claim is valid and what the payout should be. It’s an appealing role due to the sheer variety of tasks you’ll handle, and it’s one of the better-paying insurance jobs

Average Annual Salary: $51,785

Job Satisfaction: 3.7 out of 5

Typical Skills: Attention to detail, math, sheets-based programs, good communication, and interpersonal intelligence

Insurance Agent Jobs

Agents are the lifeline of the insurance industry. They’re responsible for selling insurance products to clients and then catering to their needs while the policy lasts. In other words, they’re the intermediates between the ordinary people and the insurance companies. If you get a job in insurance as an agent, your main task will be to contact potential customers, make sales, and then assist them in communication with the insurer. Done right, this will lead to many policy renewals, which will boost your earnings substantially. 

There are two types of insurance agents: captive, who work for a single company, and independent, who sell products from different enterprises. Whichever one you become, your earnings are based on a commission that typically ranges from 10% to 15%.

Average Salary: $39,055 

Job Satisfaction: 3.7 out of 5 

Typical Skills: Approachable and friendly, able to negotiate and make a sale, confidentiality, and numbers handling

Insurance Sales Jobs

This is one of the great insurance jobs for folks who prefer working from the comfort of their home since many companies have no problem hiring home-based sales experts. Similar to insurance agents, you’ll be tasked with contacting potential customers and selling them insurance products. 

However, unlike agents, you won’t handle the policy while it lasts. Once you make a sale, a licensed agent will likely take over the account. This means that your day will mostly consist of making cold calls and engaging in plenty of email communication. Since no particular education or accreditation is required, this is one of the lowest-paying insurance jobs. Nonetheless, job satisfaction isn’t lower compared to other insurance professions. 

Average Salary: $37,683

Job Satisfaction: 3.7 out of 5. 

Typical Skills: Kind, accessible, persistent, capable of multitasking, solid computer skills, and knowing another language is a big plus

Insurance Investigator Jobs

Also known as an insurance fraud investigator, this is one of the more complex jobs in the industry. It involves investigating suspicious activities, which include shady claims, dubious new customers, and questionable insurance transactions and premium estimates. It’s among the highest-paying jobs in insurance, and it’s undoubtedly among the most exciting. You’ll need a vast knowledge of insurance and actuarial science. Furthermore, you’ll need to have a strong grasp of insurance law and how to conduct an investigation into suspicious activity within legal confines. 

This job offers a lot of diversity on a daily basis. Every case is a unique story with its own unusual details. That’s perhaps the reason people who choose this insurance career report slightly higher job satisfaction.

Average Salary: $60,167 

Job Satisfaction: 3.8 out of 5

Typical Skills: Deep understanding of the insurance industry, general grasp of various technologies and fraud techniques, and the ability to work independently

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We advertise job openings for Actuaries, Brokers/Agents, Claims Adjusters, and Loss Control Specialists, as well as positions in Financial Services, Risk Management, Sales, and Underwriting. 

Everything You Need to Know About Insurance Careers

It’s Not That Hard to Get in the Industry

 

While there are many degrees and training programs aimed at creating high-level insurance professionals, it’s possible to enter the industry without any special education. Insurance touches so many aspects of our lives, and major companies need all kinds of experts to help them assess the risks and estimate the damages.

That’s why insurance headhunters will often look for digital data experts, civil engineers, physicians, architects, and similar specialists. After all, an education in business will help management keep an insurance company afloat, but it won’t teach them how to stop hackers, assess injuries, or estimate the safety of a building.

Even if you don’t have particular expertise, certifications for lower-tier jobs, such as sales agent positions, are easy to obtain, and training is reasonably priced. Furthermore, since there’s such a variety of roles in the business, some insurance recruiters will consider top-shelf talent for more challenging positions even if they lack the relevant experience. In that case, the insurance company will provide the necessary training and cover the expenses. 

It Can Be Very Stimulating

 

Most people see working in insurance as a repetitive 9–5 job. While this is true for certain positions like data clerks or customer service support, there are many exciting opportunities. To qualify for the best insurance jobs, you’ll have to know quite a bit about the business and its security, and you’ll need to have a knack for realistically assessing risks. For instance, commercial lines underwriters will write for parades, pools, restaurants, detective agencies, pest controls, and many other risks. 

Just for underwriting swimming pools, one has to understand what risks different slides carry and how the space should be adequately fenced and marked. 

And if you’re proficient with numbers and computers, other insurance positions may be fitting for you. For instance, working as an actuary, you’ll use various advanced software programs—such as Wolfram Research Mathematica, MS Access, and GGY AXIS—to analyze multiple statistics and determine the rates for all kinds of risks.   

There Are Many Opportunities for Specialization

 

While a degree isn’t necessary, many business-related colleges and universities offer specializations in insurance. This will give you an edge and enable you to get a higher-paying job in the insurance industry. 

What’s even better, there’s almost unlimited potential for specialization once you find an insurance job you like. As your career evolves, you’ll have opportunities to explore various niches and focus on an area of your choosing.

For instance, there are insurance experts for expensive wine or watch collections, for preventing hacker attacks and other forms of cybercrime, or for insuring major sports events. Whatever your area of interest is, there’s definitely an insurance company involved in it. 

The Salaries Can Be Outstanding

 

Before you go and type “insurance jobs near me” into your browser, you’ll perhaps want to know how much insurance professionals earn. Well, the starting salary is typically in the $25K–$35K range. However, with just a little bit of specialization, you can become an insurance agent and earn near $40K. And if you’re aiming for the big bucks, becoming an actuary of a finance expert is the way to go. They earn between $80K and $100K annually.

Furthermore, in the insurance industry, a job that’s not directly related to selling and maintaining policies isn’t actually that hard to find. For example, you can work as a content writer for an insurance-based website or as a graphic designer. Just look at how neat and polished GEICO’s and Allstate’s sites are. People who made these didn’t earn peanuts.

Growth of Jobs in the Insurance Industry

 

Before you decide to pursue a career in insurance, it’s worth knowing what the prospects of the industry as a whole are. Well, the good news is that insurance in the US is a very stable business

According to the report by the Insurance Information Institute, the number of people getting insurance jobs was 0.6% higher compared to 2017.

Advancing technology has been cited as one of the main reasons for the lower hiring rate in the insurance industry. The automation of various processes has enabled employees to be more productive. Furthermore, many insurers decided to outsource basic and mid-level tasks to Eastern Europe or India.

While other sectors of the economy posted more impressive numbers, the general outlook is still quite positive. Insurance industry jobs are generally more resistant to a recession since the investment of money from premiums is strictly regulated. Furthermore, many companies are mutual, meaning they respond to their policyholders instead of Wall Street. Finally, the need for insurance products is always present, no matter the swings in the economy.

When it comes to particular sectors, Property and Casualty carriers are the least vital, with job growth of -1.1%. On the other hand, health carries employment, with life insurance jobs seeing growth of +2.1%.

Bottom Line

 

There are many reasons to look for a job in the insurance industry. The salaries can be outstanding, the prospects are stable, and there are numerous opportunities for further development once you get a job. 

However, perhaps the most significant upside is that you don’t need a particular type of education or unique skills to enter the insurance industry. If you have a professionally designed CV with some related work experience, and if you compose a relevant cover letter explaining how your talents can contribute to the company, the chances that you’ll get invited to a future round of selection aren’t insignificant. Give it a shot, you never know what life may bring. 

Frequently Asked Questions

Why is insurance a good career?

If you’re exploring insurance jobs near you, you’re probably also wondering if a career in insurance is a solid choice. Generally, the answer is yes. The median salaries are often above the average, and you don’t need extraordinary levels of education and training to start in the industry. 

Furthermore, the industry prospects seem very stable, meaning automation or a recession won’t hurt the job market that much. Finally, while many believe working in insurance is tedious, there are several exciting insurance job openings. For instance, an underwriter needs to assess risks, and to do that, they need to have extensive knowledge about building materials, different types of businesses, how people behave while intoxicated, and much more.

How much does a job in insurance pay?

The salary that insurance employment brings depends greatly on your position. Sales representatives and call center operators earn the lowest amounts, typically near $30K per year. Agents generally make about 20% more, but a well-connected and experienced agent can earn big bucks. Claims analysts and adjusters rank in the middle, with salaries in the $50K–$55K range. Finally, underwriters, financial analysts, and actuaries are at the top of the food chain with salaries typically ranging from $70K to $100K.

What is the highest-paying job in insurance?

If we exclude the top management positions, which bring big bucks regardless of the industry, actuaries have the highest-paying insurance-related jobs. According to the US Bureau of Labor Statistics (BLS), the median salary of an actuary was $ $100,610 in 2016. The good news doesn’t stop there. The expected job growth by 2026 is 22%. After actuaries, financial analysts have the highest median salary, at $81,760.

What qualifications do you need to work in insurance?

Different insurance jobs require different qualifications. For a sales specialist or a customer service representative, persistence and some relevant previous experience might be sufficient. Agents will have to do a little bit more work, namely to obtain an official license from their home state. Finally, underwriters, actuaries, and other higher-end positions require an appropriate university degree, strong math skills, and many specialized courses.