Working in the insurance industry

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  • Hands-on experience in the industry can be crucial in securing a job … as is flexibility. Get experience in different areas and be willing to travel....get into insurance
  • How to Become an Insurance Broker
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Companies Are Able To Demand A High Level Of Educational Qualifications, And

Companies are able to demand a high level of educational qualifications, and may think that an entrant with two A levels today is equivalent to one with five GCSEs five years ago. However, many jobs require education to GCSE standard only. Employers look for the right person for the job, and that is not necessarily the best - qualified person. Many people enter insurance because it is possible to start at the very bottom and work your way up.

There are cases of people who started work after school in the most junior capacity, and managed to reach the board of directors by the age of 40. This kind of spectacular career progression is most likely to be seen within a medium - sized brokerage firm, where there may be the widest scope for development of individual initiative and entrepreneurial skills. In most insurance companies, however, progress beyond a certain point may now be impossible without professional qualifications. It is, in any case, hard to progress from a clerical position.

The best opportunities for advancement are through the trainee schemes. This kind of scheme can lead to rapid promotion. All recruits to such a scheme are considered to have the potential to reach a management position. Trainee schemes normally require a minimum of two A levels, which will qualify the recruit for entrance to the ACii (www.cii.co.uk) examinations.

The schemes involve intensive training, both on the job and in residential courses. During the trainee period the recruit may be moved around different departments in a job - rotation plan, and, at the same time, will be expected to study for professional qualifications. Companies may provide day - release, and here it should be noted that a continued course of study requires discipline and determination. Many people do not complete the examinations. Generally, experience shows that those students who must obtain BEC National Diploma/Certificate or additional A level qualifications are most likely to drop out.

Graduates: A substantial number of graduates choose insurance as a career. Over 500 entered in 2009 - 10, mainly into specialist categories. The number of graduate entrants is expected to increase. Most employers welcome applications from candidates from any academic discipline for general insurance work, though certain subjects such as behavioural sciences, business studies, economics, languages, law, mathematics, and statistics provide a particularly useful background. A good honours degree in mathematics, statistics or economics is essential for actuarial trainees.

Companies May Provide Specific Graduate Trainee Schemes. These Are Broadly Based And

Companies may provide specific graduate trainee schemes. These are broadly based and are designed to give a general knowledge of insurance so that the graduate may speciali

There Are 10 Examination Subjects, And The Syllabus, Course Of Reading And

There are 10 examination subjects, and the syllabus, course of reading and examination question papers are given in the examinations official website or are available online.

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