“Covering” Your Career Trajectory: Climbing up the Insurance Industry Ladder

Every career path usually comprises a ladder of sorts. Arguably, the only exception to the rule is those working in the creative industries. But if you have been eyeing up a career path in the insurance industry, what is the best trajectory?

The Wide Variety of Gateway Roles

You could start out as a broker or claims agent, as well as numerous other roles, but this gives you a thorough grounding to progress within the industry. The insurance industry is a very mobile one. And it is common for people to gain experience in multiple career paths. The best thing for you to do is to try a role that feels like the best fit. And one of the best ways to gain access to mobility in the industry would be to obtain a CIP (Chartered Insurance Professional) designation as early as possible. There are a wide variety of ways for you to improve your knowledge, from the Ambetter contracting opportunities to short courses online. But once you get an understanding of the gateway roles that can provide you with an idea of how to progress, you can venture into one of the four popular insurance careers:

Underwriting

Underwriting provides a thorough base knowledge of a wide variety of policies. The more complex the policy works, the wider the knowledge you get. It gives you an opportunity to liaise with customers directly while also protecting your employer from risk. As such it can be the perfect opportunity to build strong relationships with both sides and you can get recognized and rewarded for the right choices, which can help you progress up the ladder.

Sales

Quite a hard-nosed approach, but some people take to it like a duck to water. It’s all about achieving sales targets while also keeping customers happy. The best approach to progress up this career ladder is to develop a wide variety of knowledge and demonstrate a commitment to continuous learning. You can then become a subject matter expert or progress on to a supervisor or management role.

Claims

One of the positions that require a significant amount of contact with customers. It’s not for everyone because of the contact center nature of the role. But it’s a perfect place to start your insurance career trajectory by doing the grunt work. By getting a wide variety of knowledge through this career route and learning to handle all your claims adequately, you can get recognized for progression. It can lead towards manager or supervisor roles, and you could become an independent adjuster that represents a wide variety of insurance companies.

Actuary

One of the most important roles in insurance because it requires taking exams. However, it becomes a more fulfilling role in many ways because you work on projects that require various degrees of risk while analyzing trends and establishing premiums for products. It requires a wide knowledge of niche subject matter expertise, and is a fundamental component of the insurance industry.

Climbing up the insurance career ladder is not just a singular journey. As you can see, there are a wide variety of roles suitable for anybody looking to make their mark.