A new report from the U.S Bureau of Labor Statistics shows that there are about 32,000 property-casualty insurance jobs available in the United States, and that number has grown by more than 10% over the last 10 years. The industry itself is one of the fastest growing in all of finance, reporting an annual growth rate of 7% in 2018 alone. With so many opportunities available to entrepreneurs, this may be the right time to start your own business as a property-casualty insurance agent or adjuster.
how many jobs are available in property-casualty insurers
There are more than 11,000 property-casualty insurance jobs open throughout North America. And with increasing natural disasters and new safety regulations, there will continue to be a need for qualified professionals to fill these roles. The three most important things you can do to increase your chances of getting hired by an insurer is:
1) make sure you have a degree or certification,
2) have several years of experience, and
3) apply for positions that fit your specialty.
For example, if you have an interest in cyber security, but also have experience working on physical security systems, it may make sense to apply for both positions as they’re related yet different types of roles. Which career path is best for you?
What Makes A Person Qualified
While there’s no specific education or training required to enter a career at a property-casualty insurer, most workers need at least a bachelor’s degree. A four-year college or university will provide students with training in some of the basics of insurance and finance, but students pursuing careers in PCI are often best served by an internship or part-time work experience while they’re still students. PCI employees will also receive thorough training before they ever step into an insurance office, with paid internships available that usually last several months. This allows new recruits to learn under experienced workers without having to start from scratch.
Not Just Sales Jobs
If you’re applying for a sales position at an insurance company, make sure you take any non-sales jobs that your potential employer offers. Sales people are needed in many departments at an insurance company, from marketing to underwriting and claims handling. Some people work their way up to top management roles without ever selling a policy. Because there’s always an influx of new policies being sold, competition is fierce for many of these positions; taking a job with other responsibilities will help you get noticed and give you something else to talk about during your interview. It might also prevent your interviewer from marking you down as just another wannabe salesman who’s only interested in sales jobs.
Job Duties Are Varied
A wide range of job duties are performed by property-casualty insurance underwriters. Depending on where they work, these professionals may be responsible for reviewing applications from customers and making recommendations to management, analyzing statistical data or performing cost calculations to establish premiums, overseeing claims and offering policyholders advice about policies, as well as making decisions about whether customer claims are valid.
The specific tasks performed depend on a variety of factors including an underwriter’s place of employment and position within an organization. For example, although all property-casualty insurance companies engage in similar activities to some extent – such as receiving requests for coverage from potential policyholders and providing quotes for certain types of coverage – these organizations differ greatly based on their size and organizational structure.
Career Advancement Opportunities Available
Many property-casualty insurance companies offer a wealth of career advancement opportunities, whether they are looking to fill managerial positions or entry-level positions. With such a variety of roles available within property casualty insurance companies, including marketing and underwriting roles, there’s bound to be a job opportunity that’s perfect for you! Whether you seek full time or part time work, chances are there is an opportunity for you to succeed in property casualty insurance. Start your career today!
Creative Careers Can Lead To Bigger Opportunities
Let’s face it: there aren’t a lot of people who picture themselves working for an insurance company. But property-casualty insurers are looking for motivated, innovative employees who want to be part of a fast paced, constantly changing industry. For those with talent and ambition, it can lead to opportunities that will take you far beyond your original goals. Start your career as a property-casualty claims adjuster and work hard.
If you’re successful, chances are good that you’ll get promoted into positions such as staff adjuster or even supervisor. And if you excel at those jobs, there’s no limit to how high up you can go within your organization. You might even have an opportunity to move into management positions in marketing or human resources where business acumen is just as important as technical skills. The point is: if you’re willing to put in some time and effort early on, there are plenty of ways for creative thinkers like yourself to make their mark on their company—and maybe even beyond!
