Insurance is an agreement between an insurer and insured person where the insured person deposits a fixed monthly or annual amount as 'premium' to the insurer. In return, the insurer pays more money than the premium to the insured person in the event of an accident. In the situation of illness, accident or robbery in the family, insurance proves extremely beneficial. Today, insurance companies have policies to deal with almost every situation. Life insurance, travel insurance, vehicle insurance, health insurance, and home insurance are most common among them.
Step by Step Process:
Students can make a career in the field after graduation. However, some students prefer to join the insurance sector since the twelfth. Nowadays, many companies offer a part-time job to graduate students. Still, to take full knowledge of the subject, it will be credible to take a Masters Degree in insurance management after college.
The postgraduate course in insurance consists of the following topics:
- Principles and experiments of life insurance and general insurance
- Life insurance and non-life insurance area
- Insurance Law
- Life insurance underrating and risk management
- Insurance Liability and Life Insurance Claim
- Re-Insurance and Life Insurance Products
- The main objective of this study is to introduce you to different aspects of the insurance sector.
Starting:
If you have marketing Skill, then you are always ready to understand the problems of people and then the insurance sector is best for you. But if you consider it as a whole to earn money then do not choose it as a career. Importance of insurance should be understood in the beginning in the real world itself.
Is it the right career options for me?
If you have ever felt at school or after you during your student life that you have good people and selling skills or after that, then the insurance subject will be appropriate for you. You can start a career as an Insurance Agent or Sales Executive - Insurance of a famous insurance company. After working in such a few years, you can also become Insurance Manager.
Insurance requires two types of skills to make a career- first, make friends easily and secondly, identify their problem accurately and explain the importance of insurance. You can explain to them how security insurance provides protection from any future accident. Insurance can at least provide financial protection to the people.
Careers Opportunity in Insurance:
You can start a career as an Insurance Agent where you have to sell insurance policies. For this, you are given a definite target that you have to earn for the company as a premium. In return, you are given a commission. Apart from this, the sales manager- insurance position is also important where you have to handle a team of insurance agents. You can also start your career as an insurance underwriter.
Demand and supply of Insurance:
Today only 14 percent of the world's population is insured by insurance agents, which means that still 86 percent of the people have not made any insurance. So demand is much higher than supply. Today, this area requires people who are diligent and business-looking. Since it is often said that "insurance is a matter of prayer", therefore good income can be achieved through the right policy and a clean system.
Market Watch of Insurance:
In the past few years, many companies like Max New York, ICICI Lombard, have brought a new policy to attract people. Most policies are for trustworthy and beneficial people. The insurance industry has always touched new heights, except for 2009; almost all major companies registered a decline in their income.
International Performance:
Insurance is the best ways to secure financial condition, movable real estate, and life. These areas are reliable and well-organized in developed countries like the US and UK.
Positive or Negative Aspect of Insurance:
Positive
- The industry is on the path of development. For people who have good people and sailing skills, the chances are increasing day by day.
- In the next few years, the insurance sector will touch new heights, which will ultimately reach the students who make a career in this area.
- Many good institutions are employed in this area.
Negative:
- Students or insurance professionals should have a high ability to convince the policy and to convince them to buy that can sometimes be disliked by people.
- New companies are making offerings in this field every day. Recently, like the movements have stepped into this area. So people can get less trust in these companies.
Role and Designation:
Insurance policies can be sold from different names, but ultimately their purpose is to secure a future in the event of any natural disaster, theft or any other accident. There are several types of insurance-life insurance, health insurance, home insurance, vehicle insurance etc.
Tips for Careers in Insurance:
After taking a Graduate or Postgraduate Degree in Insurance, you can find jobs with the following suggestions:
- Check the good companies' website regularly and apply for it on the job opening.
- Increasing the scope of your friends and identities that you can use in your future deal in the future
- Read the book to increase trade-way, communication and sales skills
- Keep track of global insurance scenario and new strategies that have not been launched in the country yet
- Keep information about new laws and regulations like amendments and the amendments in them
- Keep track of their position in big finance companies and stock markets so that you can plan your bargaining and sales.
