Despite the appeal of faster growing sectors of the U.S. economy, a management career in the insurance business remains an appealing option for those with a freshly minted college degree and those seeking to transition from another line of work.
The insurance industry offers the kind of long-term career stability that more volatile fields simply cannot, and the future trend lines suggest insurers have a lot of business to win and investments to make in the future.
The growth of our nation’s population, the comparable individual wealth of American citizens and an existing shortage of talent all point to an industry that will thrive as people’s need for insurance escalates and one that needs more people with your skills.
But it’s important to note that the path to a management-level career in the insurance business doesn’t always lead straight to a sales role that requires you “sell” to your families, friends and old college pals. In fact, only 25 percent to 50 percent of current insurance management were sales representatives at one time, so there are many courses to follow to reach the management ranks in the insurance business.
Some of the most desirable – and best paid – roles in insurance today are in Risk Management, Claims, Actuarial, Product, Operations, Technology, Investments, Real Estate, Finance, Advertising, Marketing, and yes, Sales. Management career opportunities abound across the insurance spectrum because leadership in this vital insurance functions are key to sustaining the growth of today’s insurers and which go beyond policy sales.
Given an increasing corporate investment in operations security, risk management and loss prevention, growing a career in the insurance industry could make sense no matter the focus of your undergraduate or graduate studies or your past work experience.
Insurance companies are facing tighter competition for management talent because Baby Boomers are retiring and many of their existing employees are graying. That puts the bargaining leverage in the hands of today’s job seeker and those who expect their insurance industry employer to help develop their future careers.
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