JOBS & CAREERS SPRING 2018 - 94
Being a broker, underwriter or loss
adjuster puts you on the front line, but
there are plenty of other roles that's don't
involve dealing directly with clients. There
are those who work in risk modelling
(determining how safe an investment is),
claims and business analysis. Or you may
work behind the scenes ensuring clientfacing colleagues make the right decisions.
Remember, though, that just because
you start your career in one role, it doesn't
mean you have to stay in that specialism
forever. You can enjoy many different
careers all within the same sector.
Degrees of success
Insurance underwriters decide whether
to insure a person or company, and set
out the details of policies. They work
closely with actuaries, risk and claims
managers, and brokers, ensuring a
balance between attracting and retaining
customers through competitive premiums
and being able to cover potential losses.
Day-to-day tasks may include gathering
background information, analysing
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offices all over
the world, so
you may get the
chance to relocate
statistics, assessing risk and calculating
the price of insurance premiums.
What skills and qualifications do I
need? There are no set qualifications, but
a degree in business, maths or economics
will help when joining a graduate training
scheme. Apprenticeships are also available.
You'll need maths and statistics
skills, and the ability to analyse
complex information and negotiate.
How much can I earn? Trainees on
graduate schemes often start on £25,000 to
£30,000. Once you're trained, salaries can
reach £100,000. Bonuses for personal or
company performance are often included.
Brokers use their knowledge of the
insurance market to find the best level of
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Insurance companies are looking for
people with a certain set of skills rather
than specific knowledge, so any degree
could see you making your way in the
profession. After university, you can
continue to study to obtain the Chartered
Insurance Institute's advanced diploma
in insurance (ACII). This is recognised
around the world and will take three years
to complete, less if you graduated in a
business, finance or a law-related subject.
As for salaries, as a graduate you'll
probably start on around £30,000 a year,
depending on how big the company
is and where it's located. Once you've
demonstrated your worth and completed
your training, that figure can more than
double, and those at the top of their game
will earn a six-figure salary, if not seven.
Bear in mind, too, that many large
companies have offices all over the world,
so if you fancy relocating to Australia,
Asia, Africa, the Americas, there may
be plenty of opportunities to do so.