Career Opportunities Within the Insurance Sector For New Graduates


There is no doubt you’re an insurance graduate and looks forward to a most fulfilling career in the industry. There are hundreds of job opportunities within the insurance industry and you will carve a niche for yourself when you become a specialist in your own chosen area. The following are some job opportunities where you can excel in the insurance sector –

Insurance agent/broker/agency

You can become an insurance marketer or agent within the industry and earn both salary and commissions in the course of your job. You can also choose to become a firm rather than an individual marketer, giving you the opportunity to become a broker or agency which manages other agents for a company.

Career Opportunities Within The Insurance Sector For New Graduates

Policy underwriting

As an insurance underwriter, you will be charged with analyzing an insurable risk and working out the appropriate premium that will cover the risk in a way that will make it profitable for the company. You also issue a policy document when a customer pays premium you have carefully calculated to cover his risk.

Investment analyst

Insurance companies are also into investment businesses. They invest premiums not disbursed for claims over the year, and they invest it into government bonds and currency securities and real estate among others.

Claims appraisal

When you are hired as an insurance claims appraiser, you determine the genuineness of a filed claim and analyze whether your company would be justified in settling the claim or turning it down due to breach of policy terms by the customer.

Forensic investigation

When you work as a forensic investigator for an insurance company, you may also be referred to as a claims examiner. You go to the scene of a loss to gather evidence of the loss and determine if the customer has careless or fraudulent in any way.

Loss adjustment

When you work as an insurance claims adjuster, you work to evaluate a customer’s claims and seek to reduce the value of his claims. The essence of this is to ensure that the customer does not enrich himself from his loss or defraud the company in any way. You must adjust the claims of the customer to save money for your company by citing depreciation, carelessness, loss in economic value, and other factors that will help you pay lower than what the customer demands for. Here you work as a loss control specialist or analyst.

Risk management

As a risk manager, you determine if it is profitable to provide coverage for certain classes of risks. For instance in Nigeria, providing insurance coverage for a petrol tanker on a long trip can be unprofitable – because an accident involving a petrol tanker may also involve other motorists and cause loss of lives in villages or towns where the incident occurs, leading to vicarious liability.

Actuary

An actuary works as a technical specialist within the insurance sector. He is trained in statistical analysis and the scientific determination of insurance policy terms and corresponding premiums.

Office staff

You can work as a computer operator or data analyst, driver, researcher, legal adviser, receptionist, cashier, and other normal office work.


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