Insurance: currently 406 jobs.The latest job was posted on 01 Mar 21.
The insurance industry is made up of a number of layers that interact to create and deliver insurance products that protect corporations and individuals against financial loss.
Insurance companies are responsible for assessing risks and developing products to sell to private individuals and corporations.
These insurers then mitigate the risks they are exposed to by making deals with re-insurers, firms which specialise in providing insurers with insurance that protects against significant losses.
Insurance Industry Careers
Entry-level positions are available within most functions of the insurance industry, and progress can be made either by climbing the hierarchy within one specialism, or by gaining breadth of experience, and aiming for a managerial or director level role.
The underwriting department is responsible for analysing the risks associated with their clients. They use industry statistics, demographics, and risk analysis to help prepare a competitive but profitable quote for the cost of insurance for a particular client.
Underwriting decisions are based on the models developed by actuaries. Actuaries are mathematically capable individuals who use statistical risk analysis to produce financial models, upon which underwriting pricing decisions can be made.
As with a firm selling physical goods, there are marketing, product and sales teams who work to identify market opportunities, develop saleable products, bring them to market, and sell them.
The claims department is an important function within any insurance company. The firm’s reputation for customer service will be founded on the quality of service offered by the claims department. Continuous process improvements are made thanks to the work of ‘claims business change analysts’. Data on claims is funneled into the actuarial models to help create pricing structures, and claims managers have an important role to play in detecting fraudulent claims on insurance policies.
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