Job roles

Claims

60% of insurance employees work in claims. Entry positions include claims handler with a move onto being a loss adjuster. A loss adjuster would investigate insurance claims to see how/if they can be settled, and will see the claim through to completion. They would liaise with a client and visit a site if necessary and must be calm under pressure, confident, have an enquiring mind, attention to detail, be people person/ empathetic /understanding and assertive. Certificate and diploma can be taken (same as claims professionals).

Life and pensions

Life insurance/assurance and the world of pensions is a growth area with the current pensions market and retirement age increases. Roles within life and pensions include

Actuaries

Advise clients on financial risks, especially in the area of insurance and pensions, using their understanding and expertise of economics, business areas and mathematical modelling. See actuarial careers.

Underwriters

Determine whether applications for insurance should be accepted, and, if so, at what price and if any special terms should be applied.

Financial advice and planning

Help customers make the right decision about their pension, insurance, savings and financial needs by giving sound advice based on the current market’s products.

Pensions management

Ensure the company you work for or the companies you are advising have the most effective pensions by ensuring they are run correctly and to recommended pensions guidelines.

Broking

Identify insurance requirements and find suitable insurance solutions for their customers. Customers may be for commercial companies or public sector organisations (e.g. LOCOG) or are retail clients who are individuals who need insurance policies (home, pet, car etc.). 80% of business insurance is sold through brokers. A broker would identify the needs of their client and then search the insurance market or the insurance company they represent to give the client the most appropriate policy for their requirements.

London market

Including Lloyds Market Association; a market that brings together members to create syndicates, to enable more than one syndicate to take the risk. It brings together underwriters and brokers who conduct business in the Underwriting room.

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