Insurance Industry is Going to Generate Millions of Insurance Jobs

January 18, 2017

Insurance sector in India is quite large in size, which not only offers protective coverage to people and materials, but also offers attractive insurance jobs. Numerous national and international players competing and growing at rapid rates in the Indian insurance sector attract the best talents to work and earn a livelihood. Various reforms and the easing of policy regulations have brought in tremendous positive changes in the insurance sector.

More education about the importance of insurance coverage to people will only enhance the sector. According to some media reports the period from 2010 – 2015 projected to be the ‘Golden Age’ for the Indian insurance industry is going to generate millions of insurance jobs in India as a broad understanding says that people in India have started to see that a basic necessity to control the present eventuality and simultaneously secure the old age is insurance.

One major attribute a person interested to work in insurance sector is that he must understand the specific insurance requirement of the customer and depending upon that should offer solutions such as term life policies, endowment policies, joint life policies, whole life policies, loan coverage term assurance policies, unit-linked insurance plans, group insurance policies, pension plans, and annuities amongst others.

The primary job in insurance that comes in sight is one of insurance agent. These professional called insurance agents are expected to introduce the policies to the people and business entities. The position can be got through joining any insurance company. The entry level insurance job requires that a person must be a graduate. Selling the insurance products and related policies, an insurance sales executive should be a subject matter expert as he is expected to answer millions of question of customers.

An insurance job, particularly actuary requires a person to have predict the risk of writing insurance policies on property, businesses and people’s lives and health, etc. Candidates with graduation in Mathematics or Statistics or Econometrics or Computer Science or have degree of MBA in finance can have plenty of choices in the sector. Then there are agents and brokers who advise people and organizations on how to protect things they value by selling customers insurance contracts.

Another position in insurance jobs is of Claims Adjuster who determines the extent of damage when an accident occurs and whether the damages are covered by the insurance policy signed with the customers or not. Moreover, he is destined with a duty to arrange for repairs and is responsible for reaching settlements that are fair to both customers and the insurance company. The position of service representatives in insurance job is attractive as they are a link in the field between agents who sell policies and insurance companies who write the policies.

Whereas Customer Service Agent listen to the grievances of customers, Loss Control Specialist helps to keep accidents and losses to a minimum by taking care of work areas or looking over machinery and recommending safety procedures amongst others. Then there are Risk Manager whose job is help identify the risks that it faces and to make recommendations for dealing with these risks. Underwriter

On the other hand, underwriter decides whether to provide insurance to applicants seeking coverage amongst others.

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