Many students have preconceived ideas of what a career in insurance will look like—boring, monotonous, sales driven, the list goes on. But we’re going to tell why that couldn’t be further from the truth.

Insurance is part of everything we do—it protects our homes, vehicles, jobs, and a lot more. This ever-evolving industry is at the forefront of game-changing issues like climate change, big data, autonomous vehicles, and other national and global risks.

Because of the all-encompassing nature of the industry, it is in constant need of fresh talent from a variety of educational backgrounds—meaning just about anyone can find their place in insurance.

So what’s stopping you from pursuing a career in the insurance industry? Is it one of the many misconceptions people new to the industry tend to have?

With the help from our friends at Career Connections, the careers gateway organization to property and casualty insurance, we debunk those misconceptions and shed a little light into what it’s really like to work in insurance.

1. Insurance is all about sales

On the surface, it’s easy to believe that insurance is only for those with sales career aspirations. For instance, when you purchase any type of insurance as a customer, it often only requires you to deal directly with brokers and agents. So on the surface, you’re only exposed to a small portion of its workforce: sales.

In reality, insurance is one of the most background-diverse industries, with many opportunities for students and new grads from a wide-range of academic specializations.

In addition to the broker and agent role, risk management, underwriting, claims, marketing, appraising, and Investigations are other areas critical to the industry. And of course the industry also offers the traditional roles you would expect to see in any organization, like HR, IT, finance, accounting, and communications.

According to the Career Connections website, career seekers can find their place in insurance with backgrounds in business, engineering, fine arts, health sciences, humanities and arts, legal, math and IT, social services, and science.

2. Young people don’t work in insurance

In fact, they do. And their cohort will continue to break through the industry in the coming years.

Currently, millennials represent 27 per cent of the insurance industry’s workforce—a 12 per cent increase from nine years ago. In addition, baby boomers are nearing retirement, opening up more opportunity for Gen Ys. In fact, according to the Insurance Institute of Demographic Research Study, a predicted 28 per cent of the current property and casualty insurance workforce will be set to retire in the next eight years.

3. Insurance isn’t diverse

One point the Career Connections experts constantly stress is that the insurance industry is reflective of the communities it serves. So not only is insurance diverse in talent, but it’s also vibrant and rich in culture.

According to Career Connections, visible minorities represent 14 per cent of the workforce, which is on par with national standards. In addition, women represent 62 per cent of the workforce, and 36 per cent of senior management roles are held by women.

4. Insurance is boring

A career in insurance is actually quite the opposite. Eighty-nine per cent of people employed in insurance say they’re satisfied with their jobs, expressing that it’s both challenging and rewarding. Because of the wide-range of sectors it serves and the diverse opportunities within, people can specialize in unique areas like agriculture, technology, or even sports and entertainment— the opportunities are endless. There’s nothing boring about that!

5. Insurance employers are not top employers

Insurance is a part of our everyday lives, meaning it affects virtually everyone and every sector. Insurance organizations come in all different shapes and sizes from small brokerages to adjusting and risk management firms, to multi-national conglomerates. They operate in both busy, metropolitan cities and quiet, rural areas allowing career seekers to find an environment that suits their needs.

Most insurance organizations are committed to supporting the ongoing education of their employees, allowing you to grow within your role and diversify your career path. They also typically offer competitive compensation and benefits.

Now that we’ve cleared up some of these myths, you might want to check out www.career-connections.info to find out more about a career in this vital and stable sector.

Want to learn more about careers in insurance? Career Connections can help! Explore their resources here.

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