Thought you picked the perfect degree, but it’s not all it cracked up to be? Don’t start your career in an industry you don’t enjoy.
Despite being an $8.3 trillion global industry and the second largest industry in Australia, insurance is often forgotten about when people think about career options.
There is an abundance of leadership opportunities for young grads who enter the industry today. Consider the following:
Notice anything? The insurance workforce is aging. When senior managers retire, mid-level managers are promoted, which opens middle management positions for young insurance professionals to step into.
If you are a young professional in insurance, you can expect to see endless opportunities to progress your career.
“I was one of the first graduates in Fuse Recruitment’s Future Insure Graduate Program. I’ve had three promotions over the last three years and have since moved into an Account executive role – which is a client facing role with a lot of responsibility.”
“Insurance wasn’t particularly on my radar while looking for graduate roles, but it’s been really interesting to see how insurance is connected and relevant to everything we do.”
Insurance is crucial to life as we know it, and a vital component to securing our social and economic future. Insurance protects our health, our homes, the cars we drive; and if you’re David Beckham it protects your legs, feet and toes!
Different insurance businesses specialise in different industries and products.
Example: Insurance Company XYZ specialises in the construction sector. Businesses pay Company XYZ to protect them from liability for any issues that may arise on their site or project. A graduate who wants to work for Company XYZ may have an advantage if they have a civil engineering degree, for example, as they will understand the industry and the potential risk associated with that industry. This is an example of how ‘non-insurance’ qualifications can be relevant in an insurance role.
Due to a lack of education pathways into the insurance industry, our program partners employ graduates from all degrees. So, whether you’ve studied finance, law, marketing or even science, it’s worth considering the insurance industry if you’re looking for a rewarding career.
To be considered for a role in insurance, all you need is a good attitude, great verbal and written communication skills and the ambition to learn and grow – the rest can be taught!
While our clients are hiring graduates across all roles and all departments in their businesses, the vast majority of the insurance roles in our program are across three areas: broking, underwriting and claims.
Broking: A trusted adviser and integral client partner; Brokers are the link between the client and the insurer, ensuring both parties get the outcome they need. Working on behalf of the customer, Brokers will be responsible for identifying and analysing client risk, preparing policy quotes and renewals, creating new business opportunities, liaising with clients, insurers, and other industry service providers, and providing customer service, particularly around claims management.
Underwriting: Product & Underwriting roles cover a range of specialist functions including Actuarial, Product Management, Pricing, Reinsurance and Underwriting Services.
Product & Underwriting areas cover activities such as pricing, product development, reinsurance, and portfolio management.
The Product & Underwriting area ensures that a product range meets the changing demands of customers whilst achieving profitability targets for the business.
In an environment that offers the opportunity to interact with all parts of the business and clients directly, Underwriter’s work within a dedicated and professional team. Underwriters can directly impact business results and enjoy a challenging and rewarding area of insurance.
Claims: It’s all about managing claims efficiently and effectively and delivering excellent customer service at the customer’s greatest time of need. Within that broad scope, there is a variety of experiences — everything from managing your own portfolio of claims to assessing motor claims on the road!
Future Insure Graduates do not need a degree in any particular field, we hire grads from all backgrounds. The scope of roles available within the industry is so wide that we know there is an alignment for any degree being studied!
“With the help of the team at Fuse, I was able to analyse my strengths and weaknesses and identify my career ambitions”
Fuse is a specialist in insurance recruitment, and we work with major players in the industry. Our clients offer attractive salaries and are invested in the growth and development of the graduates they take on.
Our consultants support you throughout each stage of the program. From submitting your video interviews to preparing for careers day and client interviews, you can be sure our team will be as dedicated to you as you are to finding the right career path.
Click here to meet two Future Insure graduates who have progressed their careers in the industry.
Ready to take the first step in your career? Apply for the Future Insure Graduate Program here!