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Monday, 20 August 2012

Insurance – an unlikely career?

Everybody has to have insurance. If you drive a car it’s a legal requirement. Wherever you live you’d be daft not to have some sort of insurance cover for your belongings, and the building itself if you are the owner. If you are a student living at uni, your landlord will undoubtedly have insurance.

That makes it big business, with lots of employment opportunities... ever thought of it in that way?
Think about a typical evening watching TV and the adverts that come along time after time. Without doubt there will be a smattering of insurance adverts of one sort or another, including the various market comparison sites.  Is there anyone who doesn’t know about the meerkat by now?
So if you are thinking about a career in insurance, what do you need to know?
 
The financial services sector, which includes banking, insurance, accountancy and mortgages, is a very competitive sector. New technology has made switching providers (back to that meerkat!) easier than ever before and financial companies are keen to retain business and remain competitive. It is also a highly regulated sector with various specialist qualifications.

Employees tend to be well qualified and there is a good balance between women and men overall. There are numerous roles as there are several different kinds of insurers, each with their own specialisms, ranging from off-the-shelf standard products to complex bespoke insurance solutions for major or unusual risks, both personal and commercial.

There is also the London Market aptly named Lloyds of London, centred in the City of London whose main activity is internationally traded insurance, especially high-exposure risks (the sinking of the Titanic is part of Lloyd’s history.)

Lloyd’s of London is a large insurance market firm, rather than an insurance company, with a prestigious reputation and a good name for your CV! It is the marketplace where international insurance specialists conduct their business and employs over 800 people.  These days they work in an award-winning modern building in Lime Street in the City of London, but the origins of Lloyds were in a 17th century coffee house.

If you are considering a career in insurance, you can keep an eye on the insurance industry using the Lloyds website, which provides a massive amount of background information presented in a very readable way. No techno-babble, no gobbledegook, no jargon, just clear and understandable information to help you decide if a career in insurance might be for you. You can go to this page and start reading up to get a head start!

1 comment:

onesureinsurance said...

I would not say it is an unlikely career but more like an unusual one simply because of the area of work, and because of all the bad light the press puts Insurers under. But if you ignore that and make your own decision then you will find that a career in Insurance is really promising.