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Convert Your Hard-Earned Degree Into a New Insurance Career

Posted by Pekin Insurance on Feb 11, 2019

4 min read

Find out if you’re the perfect fit.

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Think about the word “insurance” for a second. What comes to mind? Is it your future? 

Evolving technology and a changing professional landscape have made insurance a very desirable field for recent college graduates.

Discover the benefits of converting your hard-earned degree into a new insurance career.

 

Why Insurance?

You might assume most insurance jobs are in sales. While this is an essential function, insurance companies need employees from diverse educational backgrounds, including:

  • Math
  • Marketing
  • Communication
  • IT
  • And many more

We can’t overstate the importance of insurance because it acts as a societal pillar. When disaster strikes, insurance companies help customers pick up the pieces and restore their lives.

You’ll make a difference no matter where you land in this industry, and you’ll find yourself in a very stable career field.

 

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Insurance Career Examples

 

Actuary

You should look into an actuarial career if you dream of working with math, statistics, and data every day. Actuaries analyze statistics to forecast risk and liability. They interpret data to establish rates and premiums for insurance policies.

The Casualty Actuarial Society and the Society of Actuaries offer professional level classes and exams for professionals interested in this line of work.

If you’re wondering whether you have the qualities and qualifications necessary to pursue an actuarial career, here’s an actuary job posting from Pekin Insurance.

Job Responsibilities

  • Complete rate indications for both personal and commercial lines.
  • Perform competitive analysis to assist with rate change decisions.
  • Communicate rate changes for implementation with Underwriting and IT.
  • Provide filing support if necessary on rate changes.
  • Recommend pricing strategies to Management.
  • Continue progress with the CAS exams.
  • All other duties and projects as assigned by Actuarial Manager.

Knowledge/Skills/Abilities

  • The ability to create and maintain accuracy of actuarial reports and analysis.
  • Ability to meet established guidelines.
  • Excellent reasoning abilities.
  • Ability to organize and reason in a logical manner.
  • Ability to synthesize, write, diagnose, collect, extrapolate, and review data.
  • Ability to handle pressure and stress in a dynamic and changing environment.
  • Ability to manage time and complete multiple tasks while continually meeting deadlines.
  • Must have strong computer skills, including advanced Microsoft Excel use.
  • Must have advanced problem solving and analytical skills.
  • Must be self-directed and effective working independently, yet equally comfortable contributing in a team environment.

Education and Experience

  • Bachelor’s degree in mathematics, statistics, actuarial science, or related business field.
  • Completed 1 CAS Exam.
  • Experience using R, Python, or other statistical software.
  • Experience querying databases is preferred.

 

 

Adjuster

In the insurance field, adjusters investigate claims to determine how much should be paid for home, business, and auto losses. Adjusters inspect property damage and personal injuries, so this job is a perfect fit if you like to be on the go.

If you want to learn more about working as an adjuster, here’s an adjuster job posting from Pekin Insurance.

Job Responsibilities

  • Investigates claims for losses presented by insureds and claimants.
  • Contacts and interviews witnesses, agents, vendors, insureds, and claimants to gather pertinent information.
  • Reviews police records, hospital and medical records, and repair estimates.
  • Writes estimates on damages.
  • Uses discretion making decisions as to legal liability.
  • Documents investigation of losses and keeps file records.
  • Uses discretion and independent judgment in paying losses after damages and liabilities have been established.
  • Pays the loss after damages and liabilities have been established.
  • Maintains company vehicle in proper mechanical working order and appearance.
  • Studies training manuals, insurance books, pamphlets, and company policies in order to keep updated on accepted claim practices.
  • Completes monthly expense reports of company vehicle.
  • Is a member of our catastrophe team.
  • Climbs roofs for inspection of damages.
  • Other duties as assigned.

Education and Experience

  • Bachelor’s degree preferred.
  • Must have prior claim experience.
  • Must be able to keep business matters confidential and exercise good judgment in evaluating situations and making decisions.
  • Must have valid driver’s license and good driving record.
  • Must have experience with technology and software relating to insurance claims and adjusting.

Knowledge/Skills/Abilities

  • The ability to communicate information and ideas in speaking so others will understand.
  • The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • The ability to read and understand information and ideas presented in writing.
  • The ability to communicate information and ideas in writing so others will understand.
  • The ability to speak clearly so others can understand you.
  • The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • The ability to apply general rules to specific problems to produce answers that make sense.

  

Marketing

Marketing requires everyone from English majors to graduates with degrees in computer science.

Insurance policies are legal documents, and they sometimes contain complex language. Marketing professionals provide the public with highlights and benefits of policies through email, websites, print media, social media, and more.

Marketing requires a wide variety of employees, such as:

  • Compliance
  • Copywriters
  • Graphic designers
  • Market researchers
  • Social media specialists
  • Video specialists
  • Web designers

     

We’ve only covered three areas of insurance employment, which also includes professionals in:

  • Claim support
  • Human resources
  • IT
  • Loss control
  • Sales/management
  • Underwriting

 

Do you think the insurance field is right for you? At Pekin Insurance, we offer competitive pay, excellent benefits, and tuition reimbursement.

 

 


Browse our career opportunities at Pekin Insurance, or contact a recruiter at careers@pekininsurance.com. We’d love to hear from you!

 


 

  

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