Jobs in Insurance Companies

Jobs in insurance companies are lucrative options for all finance professionals in India. With 15-20 percent growth rate per annum and the entry of private companies, Jobs in India have become more demanding. A host of facilities including an attractive salary package, handsome incentives and steady career growth are offered by most of the insurance companies in India. Anyone who wants to go for a good job in the insurance sector can also pursue a course in management that will give him an edge in the job market.

Insurance management courses offered by several renowned institutes across the country cover the nitty-gritty related to the insurance sector so that students can get a clear idea of the sector and grab better positions in any insurance company after the completion of the courses. Anybody can opt for an insurance course after graduation. Some insurance management institutes in India conduct admission test while some other institutes select students for the course through CAT and MAT entrance tests. Working professionals can also opt for insurance management programmes as many institutes also offer correspondence and part-time courses.

As far as jobs in insurance companies are concerned, both national and international insurance companies are ruling the job market. Some of the big names in the insurance sector in India include Bajaj Allianz Life Insurance Company Limited, Birla Sun Life Insurance Company Limited, HDFC Standard Life Insurance Company Limited, Max New York Life Insurance Company Limited, Tata AIG Life Insurance Company Limited, Aviva Life Insurance Company Limited, SBI Life Insurance Company Limited and many more.

Anyone planning to make his or her career in insurance sector can apply for several positions. Some positions for which insurance companies mainly hire people are as follows:

• Insurance Advisor: Many insurance companies in India hire skilled professionals as insurance advisors. The job of an insurance advisor is to serve all the policyholders of a company. An insurance advisor is responsible for assisting policyholders to choose the best possible plans for them, enabling policyholders to understand various risks and find out the right way to avoid the risk.

• Insurance Associate: A finance professional interested in insurance jobs can also apply for the position of insurance associate. Generally, an insurance associate is responsible for achieving sales target, creating and maintaining relationship with customers, implementing various promotional schemes, just to name a few.

• Back Office Support: Any commerce graduate willing to start his or her career path in the insurance sector can opt for the position of back office support. A professional working as a back office support has to shoulder various responsibilities. He has to attend all the service related queries of customers, send the MIS report to the concerned authority, assist teams at the time of log and many others.

• Sales Development Manager: Sales development manager position in any insurance company is a great reward for finance professionals. The responsibilities attached to the position include identifying insurance agents and recruiting them, reviewing the performance of the team, providing training to his team, setting target, improving the productivity of his team and many more.

Jobs in insurance companies are lucrative options for all finance professionals in India. With 15-20 percent growth rate per annum and the entry of private companies, Jobs in India have become more demanding. A host of facilities including an attractive salary package, handsome incentives and steady career growth are offered by most of the insurance companies in India. Anyone who wants to go for a good job in the insurance sector can also pursue a course in management that will give him an edge in the job market.

Insurance management courses offered by several renowned institutes across the country cover the nitty-gritty related to the insurance sector so that students can get a clear idea of the sector and grab better positions in any insurance company after the completion of the courses. Anybody can opt for an insurance course after graduation. Some insurance management institutes in India conduct admission test while some other institutes select students for the course through CAT and MAT entrance tests. Working professionals can also opt for insurance management programmes as many institutes also offer correspondence and part-time courses.

As far as jobs in insurance companies are concerned, both national and international insurance companies are ruling the job market. Some of the big names in the insurance sector in India include Bajaj Allianz Life Insurance Company Limited, Birla Sun Life Insurance Company Limited, HDFC Standard Life Insurance Company Limited, Max New York Life Insurance Company Limited, Tata AIG Life Insurance Company Limited, Aviva Life Insurance Company Limited, SBI Life Insurance Company Limited and many more.

Anyone planning to make his or her career in insurance sector career in insurance sector can apply for several positions. Some positions for which insurance companies mainly hire people are as follows:

• Insurance Advisor: Many insurance companies in India hire skilled professionals as insurance advisors. The job of an insurance advisor is to serve all the policyholders of a company. An insurance advisor is responsible for assisting policyholders to choose the best possible plans for them, enabling policyholders to understand various risks and find out the right way to avoid the risk.

• Insurance Associate: A finance professional interested in insurance jobs can also apply for the position of insurance associate. Generally, an insurance associate is responsible for achieving sales target, creating and maintaining relationship with customers, implementing various promotional schemes, just to name a few.

• Back Office Support: Any commerce graduate willing to start his or her career path in the insurance sector can opt for the position of back office support. A professional working as a back office support has to shoulder various responsibilities. He has to attend all the service related queries of customers, send the MIS report to the concerned authority, assist teams at the time of log and many others.

• Sales Development Manager: Sales development manager position in any insurance company is a great reward for finance professionals. The responsibilities attached to the position include identifying insurance agents and recruiting them, reviewing the performance of the team, providing training to his team, setting target, improving the productivity of his team and many more.

Plethora Of Insurance Jobs In India

Jobs in insurance sector are emerging at a fast pace due to the growing demand of insurance policies across the country. This sector has widened its scope and reaches in last few years and is now reaping huge benefits.

Insurance jobs are available throughout all levels like executive, administrative and managerial and in all types of insurance

i.e. life insurance jobs, health insurance jobs, marine insurance jobs, fire insurance jobs, property and automobile insurance jobs and others.

Getting insured is an easiest and the safest way of avoiding a risk, it is the covering of risk from loss and damage or from the agents causing them. This risk could be on life, health, travel, automobiles, goods, properties from agents like accidents, thefts, fire, emergencies, etc. In financial terms, insurance is the coverage or a financial agreement between two parties called insurer and insured of which one undertakes to indemnify other's loss. Insurance companies reduce the risk of financial loss to both individuals and organisations in return of the payment of regular premiums.

There are wide options for those thinking to pursue a career in insurance. Some of the careers are of underwriters, insurance agents, insurance adjusters, insurance brokers, etc. in insurance sales that maybe life insurance, medical insurance, pet insurance, risk management insurance, state farm insurance, etc. To explain a little more:

• -Underwriters are the most important link between an insurance company
  
  and the insurance sales agent. They calculate the level of risk and the premium amount before writing the policies.
• -Insurance sales agents are the intermediaries who ensure that clients get the best cover for their lives, health and property. They may work exclusively for one insurance company or represent several companies by acting independently as brokers. They have to don the role of advisors to some extent and also help clients in submitting their claims after a loss.
• -Claims adjusters have a travelling job as they are required to visit the client's insured property and inspect the damage occurred. They are involved in processing the financial aspects of paying claims as the job title suggests.

In a financial or insurance company, a professional may take up an insurance job in any of the following departments:

1. Administration Department - One has to deal with the registry of claims.
2. Development Department – He/ She is involved in dealing with marketing and procurement of business, etc.
3. Accounts Department – One is required to deal with the management of funds and their disbursement.
4. Investment Department – He/ She is responsible for the investment of funds of insurance company.

As said earlier, there are many career options in Insurance companies for those with diverse skill sets. Some of them are:

Administrative support occupations including clerical jobs make for almost 40% of insurance-related jobs like:

1.) Insurance policy processing clerks.

2.) Secretaries.

3.) Adjustment clerks.

4.) Bookkeeping, accounting, and auditing clerks.

5.) Receptionists and information clerks.

6.) File clerks.

7.) General office clerks.

8.) Insurance claims clerks.

9.) Word processors and typists.

10.) Office and administrative support supervisors and managers.

The mainstream occupations at executive, administrative and managerial levels comprise of the following kind of jobs:

1.) Insurance adjusters, examiners, and investigators.

2.) Claims examiners, property and casualty insurance.

3.) Accountants and auditors.

4.) Financial managers.

5.) General Managers and top executives.

6.) Insurance underwriters.

Other Marketing, Sales and Technicians related support occupations include:

1.) Insurance sales careers.

2.) Marketing and sales worker supervisors.

3.) Computer systems analysts, engineers, and scientists.

4.) Computer programmers.

5.) Legal assistants and technicians, except clerical.

You may choose whichever profile suits you the best and become a part of the swiftly growing insurance industry.