If you are in the insurance industry and are like me, you never thought of it as a career while growing up, but have found it to be incredibly rewarding. While those of us in the industry can appreciate the opportunities this career path offers, it can be challenging to convince others what a rewarding career insurance can be. The Insurance Careers Month movement is trying to do just that.
Recent studies reveal 25% of insurance professionals are expected to retire in the next few years, leaving several hundred thousand positions unfilled. College graduates from risk and insurance programs will meet only 10-15% of the industry’s projected staffing needs. Unfortunately, insurance careers are not on most college graduates’ radar – less than 5% of those entering the workforce for the first time express interest in working in our industry.
So how can we change that? By sharing the message that insurance is the career trifecta: stable, rewarding, and limitless. Research by the Insurance Careers Month movement indicates that 50% of the generation that is now entering the workforce want a stable job, 64% want to make a difference, and 46% want diverse career opportunities. Insurance careers offer all three.
Stability. Even when the economy takes a downward turn, individuals and businesses will always need insurance. And in nearly all employment cycles, unemployment rates in the insurance industry are 2-3 percentage points better than that of the general population.
Rewarding. We make a difference every day when we help our clients get the coverage they need or deal with a loss they have suffered. We make our customers a promise to provide security, protection, and peace of mind, and we fulfill that promise when they need us most.
Limitless. Insurance is as diverse as it comes! With numerous career path possibilities and opportunities for professional growth, there’s something for almost every interest – marketing, customer service, analytics, human resources, legal, accounting, IT, sales, finance, product development, etc. People with all types of skills – problem-solving, conflict resolution, negotiation, project management, collaboration, teamwork, relationship building – can find various avenues to deploy those skills in the insurance industry.
How did you find your first job in insurance? Why have you chosen to stay and make it your career? Take the opportunity to share what you find meaningful about your work with others, not just this month but throughout the year. You never know who you might influence to pursue a stable, rewarding, and limitless career in insurance.
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