Are you contemplating a career change and considering the world of insurance?
Transitioning into a new industry can seem daunting, especially one where you can easily encounter many rules and regulations to get your head around before you can get to where you want to go. However, insurance certainly can provide an exciting journey full of opportunities. Here are some tips to help you get started and navigate your change.
CAPITALISE ON EXISTING SKILLS
Firstly, it’s important to remember that existing skills and experience are valuable. Many skills are transferable and highly sought after in the insurance industry. For instance, experience in sales, customer service, data analysis, or management can be a great asset in various insurance roles.
EXPLORE SUITABLE ROLES
While it might not be possible to jump straight into a senior role in the insurance industry, there are many roles that could be a good fit. We’ll explore some here:
Insurance Sales Executive: Perfect for those with a background in sales or customer service. It involves using communication and persuasion skills to sell insurance policies and help clients select the right coverage for them. It’s a dynamic role where every client brings a fresh challenge or opportunity.
Claims Adjuster: This role is suitable for those with experience in investigation, negotiation, or customer service. It involves solving puzzles every day as claims are investigated and the company’s liability is determined. It’s a role that combines an element of detective work combined with helping people, making it both challenging and rewarding.
Underwriting Assistant: This role is ideal for those with experience in data analysis or administrative roles. It involves assisting with the evaluation of potential clients and risks, requiring attention to detail and analytical skills. It offers a deep dive into the risk assessment side of insurance.
Risk Management Consultant: Suitable for those with a background in business, finance, or consulting. It involves helping businesses identify and manage risks, requiring strategic thinking and problem-solving skills. It’s a role where significant impact can be made on a business’s success.
Insurance Compliance Officer: Ideal for those with experience in legal, regulatory, or compliance roles. It involves ensuring that the company complies with laws and regulations, requiring attention to detail and a strong understanding of regulatory requirements. It’s a role that keeps the company on the right track.
Insurance Claims Clerk: This role is suitable for those with administrative or customer service experience. It involves managing the claims process from start to finish, requiring organisational skills and empathy for clients going through difficult times. It offers a comprehensive view of the claims process.
Insurance Marketing Specialist: Ideally suited for those with a background in marketing or public relations. It involves promoting insurance products, requiring creativity, and understanding of customer needs. It’s a role that brings insurance products to life for potential clients.
Insurance Broker: This role is suitable for those with experience in sales, negotiation, or customer service. It involves helping clients navigate the complex world of insurance policies, requiring good communication skills and a desire to help others. It’s a role that puts the individual in the driver’s seat of helping clients protect what matters most to them.
PURSUE FURTHER EDUCATION
Consider pursuing a certification in insurance from the Chartered Insurance Institute (CII). This qualification provides a solid foundation in insurance principles, including underwriting, claims, and legal and regulatory issues. It’s a practical qualification that can enhance understanding of the industry and make individuals more attractive to employers.
NETWORK
Networking is crucial when transitioning into a new industry. The UK insurance industry hosts numerous events, such as the British Insurance Brokers’ Association (BIBA) Conference, the CII also host numerous networking events. These events provide opportunities to meet industry professionals, learn about the latest trends, and potentially discover job opportunities. For a list of events in 2023 click here.
Networking is more than just exchanging business cards. It’s about building relationships, learning from others, and opening doors to opportunities that might not be advertised. It’s a chance to learn about the industry from those who are already part of it and to make a name known within the industry.
BE PATIENT AND PERSISTENT
Remember, a career change is a significant step and it’s okay to start slow. It might be necessary to start in a lower-level role and work up. But with existing skills and experience, progress is likely to be quick.
If you like to discuss roles in the industry further, we’re always more than happy to talk and point you in the right direction if we can. The Movo Partnership also has a number of roles throughout the network business in the UK that may be appropriate. Why not contact us.
