The insurance industry is going quite strong and the result of its stability and growth has led a high number of young graduates to opt for a career in this growing sector.
Moreover, the demand for buying insurance policies is increasing in every segment. This demand is a result of insecurities and instability in the minds of people. The recent pandemic has also made people aware of the need for life insurance and medical insurance.
Top Careers That You Can Choose In The Insurance Industry
- Choosing Insurance as a Career Option
- Career Options Abounding in the Industry
○ Insurance Claims Officer
○ Insurance Surveyors
○ Insurance Agents
○ Insurance Underwriters
○ Actuarial Career
○ Administrative Officer
- Join TimesPro’s PNB-Metlife CPISSM for a Flying Start!
- Choosing Insurance as a Career Option
Thinking of insurance as a good career option because your friend is getting into it is not a wise thing to do. If you carry out a Google search of insurance as a career option, you will know why it is gaining the limelight. You will also know about the importance of taking up Certificate courses in insurance. Read ahead to know the benefits of insurance.
● You can get into insurance jobs even after 12th as a fresher.
● You can choose a job from a variety of sub-domains like finance, claims, administration, Sales, HR, and others.
● One gets to meet people from various backgrounds and cultures.
● Most jobs don’t ask for insurance experience.
● Company-specific insurance training is usually provided by the company.
● Work schedule is flexible and convenient, especially for women who need to balance between home and work.
● Work from home option is also provided depending on the position.
● Some jobs come with perks and commissions.
● Many job options have cropped up with the expansion of the insurance sector
Your career will definitely get a push if you are armed with an insurance management course in India.
- Career Options Abounding in the Industry
The insurance industry is now booming with an increasing number of customers, insurance companies, insurance products, and job options. You can do online insurance courses in India from a reputable institute like TimesPro’s CPISSM to get a job of your choice. Let’s look at some common job roles in the growing insurance sector.
- Insurance Claims Officer
They are the officers who allow the insurer to make claims and get the benefits out of it. Some officers work in the field and make inspections of the losses and finally put in their word. Also, in some job positions officers work in offices ensuring that policies and claims are settled. They receive an annual salary that ranges from ₹1.8-₹5.5 lakh annually. But on an average, they receive ₹3 lakh.
a) Insurance Surveyors
Insurance surveyors are a link between the person who insures his future and the person who is doing the job of insuring. The insurance surveyor will have to examine the loss and report on it. Whatever report he submits will decide on the compensation for the loss of any property that has been damaged or lost. They serve to analyze only physical property issues. These officers receive an annual salary of approximately ₹3-₹5 lakh.
b) Insurance Agents
With a short-term insurance program, you can become an insurance agent. As an insurance agent, your job will be to collect data, make calls & follow them up, meet clients to sell the policies, and attend to the post-sale queries of customers. For this, you must know about what you’re selling so that you can explain the details and answer the queries of the clients. Your basic salary would be around ₹2.5 lakh annually. However, you will also earn a certain commission on each insurance policy you sell.
c) Insurance Underwriters
As an underwriter, you would be judging whether a policy can be issued or not, settling the premium rate, deciding coverage limits, and examining the terms and pricing of the policies. Insurance underwriters also analyse and estimate the risks involved in an insurance contract. The average salary for this job role is approximately ₹4-₹6 lakh annually. With an Insurance certification course in India, you can brighten your chances of getting hired by a known company and of career advancement.
d) Actuarial Career
This is one of the high paying jobs in the field. To land a job in this field, it would do you good to complete any of the short duration insurance courses available today. This job is very important because an actuary is the one who analyses and examines all the risk factors involved before insurance happens. He decides on everything and the chances of everything by calculations and ultimately makes out ways to allow certain insurances. In India, an actuary gets an average annual salary of ₹9.9 lakh per annum along with perks and commissions.
e) Administrative Officer
Here you can work in any department as the company deems fit. Sometimes, you may have to verify the risk proposal or underwrite. You might also need to authorize the claims made and may also have juniors working under you, but you would also need to work as per your senior’s instructions. You’re liable to receive a salary of almost ₹5 lakh annually in this position.
- Join TimesPro’s PNB-Metlife CPISSM for a Flying Start!
There are so many other job opportunities in this growing field for a qualified candidate. For a jumpstart, graduates can do Times Pro’s insurance management course online i.e., PNB-Metlife CPISSM. It promises a bright future by allowing you to start your career as a Relationship Manager with PNB MetLife.
You will get 45 days of intensive online training by industry experts and training for IRDA Certification. To ensure you carry out the specific role of a relationship manager, the curriculum includes sales management training, domain knowledge, communication skills, grooming etiquette, and more to help you succeed.
Know more about this Certificate Course in Insurance Management
https://timespro.com/the-growing-insurance-sector-in-india-a-promising-career-choice/
Find the best general insurance, health insurance, car insurance, motor insurance quotes and plans in India for your needs.
Thus, all such consumers who are caught by the family glitch or coverage gap and don't have access to affordable ACA-compliant coverage may at least find out about the short-term plans available in their area to check whether it is worth having or not.
These plans usually provide coverage for 3 months or less but in some states, they even provide coverage for 1 to 3 years.
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Short-Term Plans Significance during the PandemicShort-term insurance turns out to be a valuable option during the coronavirus pandemic, as it allows people to obtain coverage for a short duration of their unemployment period.
With the uncertainty looming over their jobs and even if they get a job then also their employers may impose 90 days waiting period before including them in the group health plan.
