Should Graduates Get Into The Insurance Sector?
Some insurance is mandatory, some is life-saving, and some is there as a “just in case”. The reality is that there’s insurance for pretty much everything, and
the industry is booming, making it a great career option for graduates, regardless of what they’ve studied.
Graduating with a degree in insurance is ideal, but it isn’t necessary, as there are some basic skills that are desirable too, such as numeracy, good communication, and analytical skills.
Anyone can work in insurance
It really doesn’t matter what you got your degree in: anyone can go on to work in insurance. So, if you spent years studying psychology and then decide it isn’t for you, switching to insurance is a good move. Plus, your degree shows that you can commit to your education, which employers will value and be likely to invest back into your career. The reality is that insurance is everywhere, and your degree will always be relevant in one way or another. Everyone needs and has some sort of insurance, from medical and home insurance to car and pet insurance. This means that specializing in another area is very likely to be relevant to the insurance sector in one way or another.
Do you need to go to university to work in insurance?
The short answer here is no, but it can do wonders for you if you do. Many universities offer degrees in insurance, so if you know it’s the sector you want to get into, get your degree in it and let the insurance companies compete for you, offering you
higher pay based on your education, and they’ll be sure to progress you once you prove yourself to them, as you’ve already acquired the knowledge and skills. This will help you to pay off your student loans. The
best student loan consolidation companies can save you money on interest and change your term length to suit you based on how much you’re earning and can afford to pay. Once you work your way up to higher paying roles, you can pay your debts off quicker, and the investment into your insurance degree will be well worth it.
Ideal skills to gain alongside your degree
Whether you’re working in insurance as a broker, claims manager, underwriter, or loss adjuster, all roles involve negotiating with clients or on their behalf. At the heart of this is providing good customer service and communicating well with other employees. While you’re earning your degree, you could
work part-time in any role that requires great customer service to gain valuable experience. You’ll need to good numeracy skills, particularly for actuary’s work, but all work in insurance needs this. This can be gained through your education or even shop work where you handle numbers to a certain extent. Other desirable skills include being organized, having attention to detail, and analytical skills.
Insurance is a great industry for graduates to get into. It has plenty of progression opportunities, varied roles and pays well, especially if you have the skills needed for the job and a degree in insurance.