I bet there are many people who might have heard of the word “Insurance” but there are very few who would know the science behind it. Insurance is an understanding or you can say an agreement between the insured person and the insurer where the former pays some amount of money called premium on a monthly or annual basis. There is a written understanding between them as the latter promises to pay a large amount of money the one who is insured in case of trouble.
There are many insurance companies who have many policies based on which they give insurance to the people. There are many kinds of insurance which the companies across offers and ones mostly preferable by the people like Life Insurance, Travel Insurance, Vehicle Insurance, Housing Insurance, Health Insurance etc. Companies such as Life Insurance Corporation (LIC), Bajaj Allianz, Birla Sun, Tata AIG etc are amongst the companies who sell Insurance policies.
Careers in Insurance Sector
This sector has many things to offer in terms of career and also considering the functional area which you can perform, the products you specialize in and the kinds of insurance companies you can work for. There are also many other roles, some of which includes excellent mathematical skills while there are others which are totally about selling products.
As a student, you might want to take this is highly in demand first step of your career in the Insurance sector after graduation. However, many students prefer to start with Insurance just after passing 12th. This monotonous sector offers many choices for the job seekers depending on their qualifications. Many companies offer full-time and part-time job opportunities for the students who have passed 12th or have completed their graduation. Nonetheless, it is suggested that one should complete their graduation and opt for Masters in Insurance management so as to be eligible for much higher job roles in the Insurance sector.
If you have the ability to sell products, have a good convincing power and you are quite passionate about solving their problems and also providing them with financial security, then Insurance jobs is the one for you. Moving ahead, you may join insurance companies as an Insurance executive in this case but before that, you have to clear the entrance exam conducted by the Insurance Regulatory Authority of India. After working for few years as an agent or executive you can grow to higher levels in the Insurance jobs Ladder.‘
The job opportunities in the Insurance sector is increasing day by day. Initially, you may join any company as an Insurance Agent where your primary task would be to sell insurance policies to the people for their own betterment. For this particular role, you might be given targets to complete, which on completing, you will get a commission through the premium paid by the insured.
Insurance is a very effective method to secure people’s life, health, properties etc. This sector is widely trusted and is effective in developed countries like the UK and the US. However, in India, it will take some time to gain ground and run effectively.
Hi I am Nikita Gupta, I am a content marketer by profession, I am also a graphic designer. I like reading fiction novels and watch sci-fi movies