Insurance Professions

Claims Management
Claims managers review insurance claims and make sure that the appropriate settlements and payments have been made. At least a high school diploma is required for this position. Claims managers should be able to work well with customers and across departments.

Insurance Agent/Broker
Insurance agents, also called producers, sell one or more types of insurance, such as life, property, casualty, health, disability and long-term care, from one or more insurance company. Insurance policies provide protection to individuals and businesses against loss or catastrophe. Insurance agents don't just hawk the same insurance plans to everyone they meet. They consider the financial status and life situation of their clients and assist them in selecting their optimal insurance policy. When selecting a policy, an agent helps tailor the value of the policy meet the financial needs of the policyholder, whether that person needs to send a child to college or build up their nest egg for retirement. Increasingly, insurance agents and brokers offer comprehensive financial planning services to their clients, such as retirement planning counseling. Because of this, many insurance agents and brokers are licensed to sell mutual funds and other securities. The work of an insurance professional includes such things as helping policyholders when they have a claim, generating reports, and keeping records. Specialists in group policies may help employers provide their employees the opportunity to buy insurance through payroll deductions. Agents may work for one company or independently for several companies. Brokers do not sell for a particular company, but direct their clients to companies that offer the best rate and coverage. The insurance industry is broadly split into two main categories: property and casualty and health and life. Property and casualty insurance agents and brokers sell policies that protect individuals and businesses from financial loss as a result of automobile accidents, fire or theft, tornadoes and storms, and other events that can damage property. Health and life agents sell insurance that covers medical bills and provides compensation to a family in the event of a death. An insurance agent's success is contingent upon his or her ability to seek out and retain clients and on the agent's reputation among colleagues. Difficulty in developing a client base drives many insurance agents from the field early. However, those who are able to withstand such adversity can look forward to high salaries and career autonomy.

Insurance Appraiser
Insurance appraisers assist with the settlement of claims by estimating the value of insured items. A high school degree is necessary, although employers prefer college graduates. Attention to detail and good communication skills are traits valued in insurance appraisers.

Insurance Examiner
Insurance examiners review claims for costs and accuracy and authorize payment or refer a claim to an investigator. A high school degree is necessary, but a four-year degree is preferred. Examiners should have good communication and analytical skills.

Insurance Investigator
Insurance investigators examine claims where fraudulent or illegal activity is suspected. Typically, only a high school diploma is required, although a college degree is favored. Insurance investigators must have keen observational skills and the ability to handle stress and possible confrontations.

Policy Underwriting
Underwriters examine information in insurance applications to establish whether a risk will produce a loss for the company, then underwrite policies. A bachelor’s degree in finance or business is preferred, but a four-year degree in another field is usually acceptable. Underwriters should have good communication and interpersonal skills along with an eye for detail.

Underwriting
Underwriters examine information in insurance applications to establish whether a risk will produce a loss for the company, then underwrite policies. A bachelor’s degree in finance or business is preferred, but a four-year degree in another field is usually acceptable. Underwriters should have good communication and interpersonal skills along with an eye for detail.

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