Insurance is important to prevent unavoidable risks in the life of a person or for the operations of a business. For an individual taking a life insurance policy ensures that their loved ones get adequate financial support in the event of their untimely death. However, there are several types of insurance available like vehicle insurance, term plan, health, home and many other. The insurance sector of India consists of 53 insurance companies of which 24 are in life insurance business and 29 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company.
Earlier LIC of India was the only company owned by the government which carries an absolute guarantee for all insurance policies issued by it. Over the period of time, many private companies started with this service all over the country. This also boomed the availability of insurance jobs in India as companies needed more manpower to sell their policy.
The future is very promising for the life insurance companies, there are going to be several changes in the regulatory framework which will lead to further change in the way the industry conducts its business and engages with its customers. So, here is the list of the best jobs in the insurance industry for you.
There are numerous jobs available in this sector, here we are going to discuss some of the most popular and best jobs.
Professionals doing actuarial jobs help to decide insurance companies the coverage charges of various things. Actuarial Analyst, Actuarial Associate, Actuarial Manager and Actuary are job roles under this segment. These people use analysis to predict the event risk that can occur. Actuaries having good skills in maths and statistics work for insurance agencies, brokerages and also for the government.
In this department itself, there is wide range of job titles, and they are Director, Division Manager, Manager of Customer Billing, Marketing Manager, Risk Manager, Training Manager to name a few. These are some jobs titles who perform all the managerial task for an insurance company in order to meet company’s goal effectively.
Underwriting is a process of analyzing risk factors and determine whether an insurance policy can be issued or not. The cost of the premium for an approved policy and how much coverage will be offered to the applicant is determined by underwriters. Jobs in this department are Underwriter and Underwriting Manager.
An insurance sales agent task is to contact and sell insurance to customers. They help customers select a policy, explain policies and maintain each client’s insurance records. Here, work takes place in an office, but agents sometimes have to get their foots on the field to meet with clients. Best jobs under sales department are Sales Agency Manager, Sales Agent and State Sales Manager.
These are some of the most lucrative and high paying jobs for the aspirants looking out to start their career in the insurance industry. So, let us know what type of job excites you in the comment box below.