JOBS & CAREERS SPRING 2018 - 95

INSURANCE

cover at the best price. You'll help clients
identify their individual and/or business
risks to help them decide what to insure.
You may start as an insurance
technician, junior account handler or
trainee broker and work your way up.
And with experience, you could progress
into management or move into other
types of insurance work, such as loss
adjusting, underwriting or compliance.
What skills and qualifications do I
need? To get taken on, you'll usually
need GCSEs at grades 9 to 4 (A* to
C), including English and maths, and
A-levels. Other qualifications and training
can be obtained through graduate
training schemes or apprenticeships.
How much can I earn? Salaries for junior
brokers start around £16,000 to £24,000
but as experience grows, so does the salary
- up to as much as £80,000. Earnings
could include commissions and bonuses.

Actuarial analyst
Actuaries work with companies and
government departments to forecast
long-term financial costs and investment
risks. They use the results to design
and price insurance policies. Actuaries

Companies
are looking
for certain
skills rather
than specific
knowledge

estimate the likelihood of catastrophic
events, such as earthquakes or terrorists
attacks, and assess the risk to their clients.
Most actuaries hold full-time positions
and work in offices, but some may
travel to meet with clients and work
long hours to complete projects.
What skills and qualifications do I
need? You'll need to join the Institute
& Faculty of Actuaries (IFoA) as a
student member, and then study for
exams while working as a trainee. To
join the IFoA, you usually need a degree
in maths or a related subject, such as
actuarial science, economics, physics,
engineering, accounting or statistics.
How much can I earn? Salaries start at
around £30,000 for students, rising to
£50,000 as you gain experience and as
much as £70,000 when highly experienced.

Insurance risk surveyor
Risk surveyors assess the potential financial
risk posed by offering insurance cover for
items or sites, and provide underwriters
with information about reducing risk or
whether insurance cover should be offered.
Responsibilities include visiting
sites, carrying out detailed surveys,
writing reports, advising and
making recommendations.
What skills and qualifications do I
need? You'll usually need a degree level
qualification in management, business
studies, economics, engineering or similar,
plus work experience in insurance. You'll
need to be skilled in diplomacy, negotiation,
time management and problem-solving.
How much can I earn? Salaries start
at £22,000, but highly experienced
managers can earn £100,000.

Find out more
* Association of British Insurers
abi.org.uk
* Chartered Insurance Institute
cii.co.uk
* Institute & Faculty of Actuaries
actuaries.org.uk

J O B S & C A R E E R S /// 9 5


http://abi.org.uk http://cii.co.uk http://actuaries.org.uk

Table of Contents for the Digital Edition of JOBS & CAREERS SPRING 2018

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