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8 months ago · by · Comments Off on Why Working With The Small Insurance Companies?

Why Working With The Small Insurance Companies?

About Why Working With Small Insurance Companies?  To know About Why Working With Small Insurance Companies? We must know about Insurance and all about insurance products available for worldwide Insurance clients. We can get here all about insurance products or why work in insurance and About Why Working With Small Insurance Companies?

Why Work in Insurance?

Do you want to be involve in the key issues facing the world today: climate change, cyber crime, political risk, the cost of supporting an ageing population? Insurance understands and helps to manage all of these issues and so many more. We manage risks that range from driver less cars and smart houses to Cross rail and oil rigs, from rockets to sportspeople.

About Why Working With Small Insurance Companies?

The big picture

Insurance has a global reach and not only underpins our own individual security but also enables big businesses to operate more freely. Let’s put it another way without insurance. You couldn’t study at university or go on your summer holiday.  Furthermore, you couldn’t go out for dinner (or order in a pizza) or see your favourite band play live.

If you join the UK insurance profession, you’re joining one of the most influential and important parts of the UK economy. The sector employs more than 300,000 people in the UK alone and the City of London is the heart of international insurance and reinsurance. Insurance contributes nearly £12 billion in taxes and has more than £1.5 trillion of invested assets.*

Client-facing or back-office?

Insurance isn’t just a client-facing sector. Although there are many brokers, underwriters and loss adjusters helping to write business. Also deal with the impact of a major event on businesses, face to face.

There’re also many back-office roles in risk modelling, claims and business analysis. Plus actuarial and data science, for those who prefer scrutinising data-driven situations. Also helping their client-facing colleagues to make the right decisions for the business.

One important point to keep in mind is that the role you do at the start of your career doesn’t have to define the rest of it. For example, people may start in a claims role but then move to underwriting, or loss adjusting, or a business analyst or support role. In effect, it’s easy to have several careers in the insurance sector.

Graduates from any degree discipline can work in the profession as you’ll learn the specialist skills on your graduate scheme and beyond. Companies looking for people with the right set of skills, rather than a particular set of knowledge. That makes for a diverse and stimulating sector where historians, linguists and engineers can be team members.

Strong earnings potential

You probably want to earning a good salary, not just at the beginning of your career but throughout it. Starting salaries on graduate schemes can be up to £30,000 per annum, depending on the company size and location. Once you’ve completed your professional qualifications and shone in your roles, you can aim to double your salary, as well as have the tools to travel to other markets.

Those at the top of the insurance profession earn a six-figure salary. Some professionals will also have an entrepreneurial spirit and will establish their own specialist, insurtech businesses. For these people a seven-figure salary can be achievable; for others, the motivation is to offer clients social value.

Social value

Insurance is the part of the wider finance sector that offers tremendous social value. Look no further than the launch of Flood Re, the world’s first not-for-profit reinsurance company which allows those living in flood-prone areas to gain access to insurance. Microinsurance companies in the developing world also given security to businesses where they never previously had it.

Beyond these examples, insurance always been about risk transfer and supporting those in their time of need.

Professional qualifications

Your studies don’t end at university. Like any profession, there’s more work to do in order to become an insurance professional. The majority of graduate schemes in the sector will include the CII Advanced Diploma in Insurance (ACII). This’s a globally-recognised professional qualification that demonstrates your technical capability to your clients and peers. It’ll take around three years to complete. If you’re graduating in a business, finance or law-related area, you’re likely to be eligible for credits in to the CII qualifications framework. These credits may well shave six months off the time taken to get your ACII.

Global dimensions

Looking for a role that gives you a route to international travel and relocating to another country? Look no further than insurance. There are many large companies in the insurance sector, with multiple global offices that looking for highly-skilled, capable graduates. If you want to move from the UK to Australia, Asia, the Middle East, Europe, Africa or the Americas, insurance is full of opportunities to do just this.

Big or small?

Some of the biggest companies in the world are insurance companies. Within the top 100 of the global Fortune 500 you’ll find AXA, Allianz, Munich Re and many other insurance companies. Conversely, there are thousands of small to medium-sized enterprises (SMEs) across the UK. So there’s something to suit everyone.

Insurance offers hard-working graduates a challenging, long-term career. It offers the opportunity to achieve valuable and globally-recognized professional qualifications and play an influential role in one of the UK’s most significant professions. Thanks for visiting Why Working With The Small Insurance Companies?

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