Insurance Careers: How Do I Know if One Is Right For Me?
Believe it or not, there aren’t many people working for insurance carriers or agencies who grew up dreaming of insurance careers. Unless insurance is a family business, most people aren’t even aware of the opportunities this field offers.
The insurance industry offers exciting, lifelong career paths that professionals across many areas of expertise can find fulfilling. In this article, we explore what working in the insurance industry looks like, what kinds of experience and training apply to the field, and how to determine if an insurance career is the right fit for you.
What does an insurance career look like?
There are a lot of stereotypes held about working in the insurance industry. From stuffy spreadsheets to piles of paperwork to stodgy suits, the misperceptions are plentiful. Some even believe insurance people are uptight, boring, or out to take advantage of others.
Nothing could be further from the truth.
First, many different insurance careers are available to professionals beyond those that these incorrect stereotypes reference. In 2021, the insurance industry employed approximately 2.8 million people; 1.6 million for insurance companies, 1.2 million for agencies, brokers, and other insurance-related enterprises.
These numbers also support industry-wide diversity. Employees of insurance organizations represent many different backgrounds, educations, experiences, and interests.
Where those with a knack for numbers may end up in underwriting, for instance, a person with great people skills can find a home in customer service. Similarly, employees with creative passions might work in insurance marketing, while those with a tech background can lend their skills to innovative insurtech projects.
No matter your path, an insurance career is what you make of it.
Who is a good fit for an insurance career?
Insurance is often referred to as a relationship business. People assume if you work in insurance, you will likely have to interact with your coworkers and peers across other organizations.
For some roles in the industry, this is true. If you’re a people person, there are countless opportunities to embrace career paths that allow you to connect with others, sell products and services, and share your knowledge.
However, there are countless other options for those with different skills and backgrounds. Raters, processing clerks, actuarial, legal, support staff, marketing, design, IT, and product development all offer career tracks for different personalities and preferences.
Overall, people who work in the insurance industry generally enjoy the service aspect of their work. We come to work each day wanting to help others by providing coverage that protects what matters to them most or helping pay claims so they can get on with their lives after a loss.
We also enjoy supporting our communities. The Insurance Information Institute estimates that by June 2020, insurance organizations had donated $280M to charitable foundations in response to COVID-19.
At Central, we support our community in several ways, including our United Way giving campaign, hosting blood drives, providing Christmas gifts for local families in need, and much more.
What skills will set me up for a successful insurance career?
Whether you work directly with agents and policyholders or across internal teams, insurance is a very people-focused industry. Insurance careers are ideal for anyone who enjoys solving problems and helping others. Regardless of job title, these are a few general skills that will come in handy whatever your role:
Collaborative spirit
Clear communication (written and verbal)
Patience
Problem-solving skills
Innovative mindset
Flexibility and adaptability
Empathy
Team-oriented
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What are my insurance career options?
For many, a claims representative is often the first role that comes to mind when they think about an insurance career. While claims reps do some very important work as our frontline point of contact with agents and policyholders, you may be surprised to learn there is a range of careers waiting to be explored behind insurance carrier doors. Career fields at Central include:
Marketing
Human Resources
Technology
Fraud & Loss Prevention
Customer Service
Claims
Underwriting
Actuarial
Analytics
What are the perks of an insurance career?
Career opportunities abound within the insurance industry across a range of interests and skill sets. The 2022 Insurance Labor Market Study found that 68% of insurance companies plan to increase staff over the next 12 months. Nearly two-thirds of companies surveyed said their primary reason for hiring is an expected increase in business volume over the year ahead. Others want to fill understaffed areas, including technology, underwriting, and claims.
Earnings and benefits within insurance are also consistent. For example, between February and May 2020, the average hourly earnings for insurance employees increased by 1.8%.
How do I know if an insurance career is right for me?
Most insurance companies have a mission statement. They’re each a little different, but often include core pillars like integrity, security, protection, and excellence. These statements express what we strive to do and why we do it. The best companies look to hire people who share those values and embrace a shared sense of culture.
If you’re considering an insurance career, look at the company’s mission statement and consider how it aligns with your values. With that focus as your North Star, you’re sure to find the right place to begin a long, happy career in an industry that might surprise you.
A career at Central is more than a job
Central offers challenging and rewarding employment opportunities across many different areas of specialty. We take pride in fostering a culture that prioritizes our people.
Employees live our core values every day, fulfilling the promise to make a difference in the lives of others. Central rewards their hard work and dedication with a competitive, comprehensive benefits package designed to meet evolving needs, maximize flexibility, provide work-life balance, and assist in building financial security for the future. These are just a few of the benefits and programs we’ve implemented to accomplish that:
Vacation Time: Every new hire receives at least 20 days of vacation attheir hire date (prorated on month of hire). Additionally, employees with 10-24 years of Central and/or relevant industry experience will receive 25 days, and those with 25+ years will receive 30 days.
Paid Parental Leave: 12 weeks of 100% paid leave for the birth, adoption, or placement of a child in foster care.
Paid Family Caregiver Leave: Eight weeks of 100% paid leave to care for a family member with a serious health condition.
Bereavement/Funeral Days: Eight weeks of 100% paid leave for the death of your spouse or child. Five days plus necessary travel time for the death of a parent, parent-in-law, brother, brother-in-law, sister, sister-in-law, or grandchild.
Paid Sick Days: Ten new sick days each year with a maximum of 20 banked days (prorated based on month of hire)to be used for the employee’s personal illness, injury, medical appointment, or to care for a family member.
Short-Term Disability: A 100% paid benefit based on years of service.
Other benefits include:
Medical, dental, and vision plans
401(k) Plan with profit sharing and matching contributions
Basic life/AD&D insurance
Flexible Spending Accounts (Health Care and Dependent Care)
Health Savings Account with company contribution
Employee Referral Award
Professional education and leadership development opportunities
Educational incentives and tuition reimbursement
Scholarship opportunities for employees’ children
Paid holidays and floating holidays
Flexible work options
Employee Assistance Program
Home & auto insurance discounts
Mothers’ rooms
Free breastmilk shipping service for traveling mothers
Ready to find your insurance career at Central?
Visit our Careers page to explore current job opportunities or LinkedIn to learn more about our culture and the benefits of a career at Central.
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