If you or a loved one has ever been in a tight spot — perhaps due to a car accident or injury on the job — you know how reassuring it can be to have insurance to fall back on. It’s an industry many people take for granted, but when it comes to career potential and diversity, insurance has you covered in more ways than one.
From personal well-being to construction to entertainment, if you can name it, chances are there’s a policy to cover it. As such, people with diverse backgrounds and interests can find a niche in the insurance industry to suit them. “One of our program’s ambassadors was a former nationally ranked gymnast before working for a large national brokerage,” says Trevor Buttrum, program manager for Career Connections, a division of the Insurance Institute of Canada. “She used that interest in performance, and now helps insure everything from cats in cat food commercials and the Telus fish, to the million-dollar-kick at football games.” With that in mind, it’s no stretch to see how other seemingly unrelated backgrounds, like arts degrees, might translate to the industry. “There are underwriters who have English degrees, because they have the research and technical writing skills, and they’re resourceful,” says Buttrum.
There are a variety of roles in the industry for every skill set. Those who enjoy math might become an actuary, while a customer service oriented person might find they fit the profile of a broker. There are too many entry level jobs to name in each category, and a lot of room to move. “It’s important for me to continue to learn, which sold me on the industry,” says Holly Buchanan, a recent graduate from Seneca College’s Business Insurance program. She subsequently found work as an auto claims adjuster with Intact Insurance, and notes, “Even from the day I started, people have started moving into other departments.” This flexibility can go a long way toward keeping a person’s enthusiasm for the job fresh. “A person’s career might evolve to the role of risk manager or loss control specialist,” says Buttrum, “but depending on their background and interest, they could likely find entry level jobs in any of the areas.”
Insurance is an ever changing game, and success in the industry relies on one’s willingness to learn. “There’s incredible internal mobility in the industry, and the chance to grow your skill set,” says Buttrum. “As people continue their insurance education, it’s often supported by the employer.” This education often takes the form of courses and additional accreditation. “For those that value ongoing education, this is a great industry because there are so many designations you can take,” says Schryer. “It just depends on how far you’re willing to go.”
As industries continue to evolve and grow, they need adequate insurance to accompany that growth. Unsurprisingly, high tech is one sector where insurance is constantly trying to keep up. “The landscape is changing so rapidly in terms of manufacturing and the way the world does business,” says Brian Schryer, chair of the New Brunswick Young Broker Network. “I’m constantly seeing new types of insurance to compensate. In the past, there weren’t so many products that addressed liability for website design companies, for example, but there’s lots of options now.” While this is just one example of a growth industry, there is plenty of opportunity within the insurance industry in general.
With a large percentage of the industry’s workforce approaching retirement age, there’s never been a better time to contemplate a career in insurance. “If I were finishing up university and looking for a place to move up the ladder quickly, this is it,” says Schryer. “A lot of brokerages are looking for young people that will step up, so they can either hand off their whole business or be put in key positions.”
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