Tag Archives: Insurance Careers

Underwrite, Underwriting and Insurance Underwriter–Who Are These People?

I once told a very wonderful editor that an Insurance Underwriter was just about the same job description as the editor of a bunch of Bloggers. When I first started in the Business of Insurance my best boss ever used to kindly refer to underwriters as “people from a different planet.” Of course, we did our very best to make sure we kept our underwriters happy, because they had an amazing skill of causing extra work when we didn’t do our end of things correctly. An Underwriter is an intermediary between the insurance company who offers to accept the liability … Continue reading →

What is an Insurance Actuary?

Life is filled with uncertainty. We all face events that are unexpected and happen. “Risk” what is possible–those things that could be horrible–but, might actually happen to us. An Actuary is a person who is an expert in the following skills: Evaluates of the possibility that something horrible might happen in the future. Looks for simple, and creative ways to control, eliminate or reduce the odds of something horrible happening in the future. Finds methods to decrease the impact when something horrible does actually happen. Insurance serves one major function and that’s to help decrease the impact when something horrible … Continue reading →

Insurance Careers: Entry Level

In the old days an “Entry Level” career position meant a person with a high school diploma could apply and expect a good chance for the opportunity to build a career from the bottom up. In the business world today “Entry Level” usually means after earning a college degree. This is true for the Business of Insurance, there are many careers that require a four-year college degree. However, there are still paths where talented and motivated high school graduates can work their way up. In the first part of this series, Insurance Careers I outlined the overall workforce and some … Continue reading →

Insurance Careers: Part One

A career in the insurance industry might be something to consider. In 2004 an estimated 2.3 million people earned a wage or salary working in careers that support the Business of Insurance. Insurance companies offered 62 percent of jobs, and insurance agencies, brokerages, and other insurance providers and insurance-related services made up the balance of 38 percent of jobs. The insurance industry also offered nearly 151,000 workers to be self-employed during 2004. The majority of these careers were mostly insurance agents. Insurance companies generally employ 250 or more workers and tend to have home or regional offices located in or … Continue reading →

What is An Insurance Agent?

An insurance agent represents an insurance company or insurer that pays the agent a commission for transacting business with the insurance company or insurer. An agent works for the insurance company and keeps his primary obligation on representing the companies that he writes insurance with. This is very different than an insurance broker who is a representative for the customer, the insurance buyer. The difference between an Insurance Agent and an Insurance Broker is an important issue if there is a situation of claim and there is a reason to determine which professional is responsible for an error or omission. … Continue reading →