Insurance is a broad category that includes several types of coverage, including life, health, auto, property, and casualty insurance. The industry provides many job opportunities for those with the right qualifications and skills.
If you’re interested in an insurance career, research different positions within the field to determine a job that best suits your interests and skills. Among the most common positions are actuary, claims adjuster, sales agent, and underwriter.
Careers in the Insurance Industry
Here’s an overview of some of the in-demand insurance jobs, as well as educational requirements, salary information, and job titles for the insurance sector.
Insurance Job and Education Requirements
Most of the insurance industry requires employees that have a bachelor’s degree, with a background in math and statistics.
The most challenging jobs in insurance, such as an actuary, may even require candidates to understand database management and SQL coding language. Like most jobs, each requires specific training, vocational certification, or licensing.
Other jobs, such as clerks, customer service representatives, and sales agents need only to have a high school diploma or GED. However, obtaining a college degree might make a job candidate more attractive. Here are job title lists and their categories for insurance positions.
Insurance Job Titles
Actuaries use analysis to predict the risk that an event will occur. They help insurance companies decide how much to charge for various types of coverage. Of the insurance jobs listed here, actuaries make one of the highest salaries with a median income of $111,030 a year.
Actuaries typically work for insurance agencies and brokerages that sell the policies of several companies. Or, they may work for one insurance company or for the government. They often specialize in one type of coverage, such as health or property insurance.
Actuaries must be skilled in statistics and mathematics, and they must pass a series of tests. Job titles include actuarial analyst, specialist, associate, and manager.
- Actuarial Analyst
- Actuarial Associate
- Actuarial Manager
Claims adjusters work with customers who have experienced losses and are submitting claims. Also known as insurance examiners, analysts, specialists, appraisers, or investigators, claims adjusters must decide how much an insurance company should pay for a damage or loss.
They typically travel to clients and inspect a property that a policyholder claims has been damaged. Their work may require research and seeking expert opinions to determine how much a claim might be worth.
Claims adjusters earn a median annual income of $68,130, according to the Bureau of Labor Statistics. However, due to increased automation in this sector, claims adjuster jobs are expected to decline 3% in the next 10 years.
Some claims adjusters work as public adjusters. Claimants may hire a public adjuster because they prefer not to rely on the insurance company's adjuster. The goal of an insurance company adjuster is to save money for their company, while the goal of a public adjuster is to get the highest possible amount paid to the claimant.
- Claims Adjuster
- Claims Analyst
- Claims Examiner
- Claims Manager
- Claims Representative
- Claims Specialist
- Claims Clerk
- Field Adjuster
Insurance claims clerks handle all of the paperwork related to insurance policies. They might process new policies, modify existing policies, and handle paperwork related to claim settlements. They are also known as policy processing clerks.
- Administrative Assistant
- Policy Processing Clerk
Customer Service Representative
Customer service representatives help customers with various questions and concerns about their policies. They may also take details from customers after their insured properties are damaged, and communicate with them on the phone, online, or in person.
- Customer Service Associate
- Customer Service Representative
- Customer Service Manager
Loss Control Specialist
Prevention is the domain of a loss control specialist. They inspect businesses to provide strategies for reducing the risk of loss or damage. Also known as risk consultants, loss control specialists travel to various workplaces to note any potential hazards that are then reported to the insurance agency.
An insurance sales agent contacts customers to sell them particular types of insurance. They explain policies, guide customers in the selection process, and maintain each client’s insurance records.
Most insurance sales agents work for insurance agencies and brokerages, although some work with particular insurance companies. The job typically takes place in an office, but agents sometimes travel to clients. The median annual income for insurance sales agents is $52,180, according to the Bureau of Labor Statistics.
An increasing number of insurance sales agents offer their clients comprehensive financial planning services, including retirement and estate planning. Additionally, these agents can become licensed to sell mutual funds, variable annuities, and other securities.
- Sales Agency Manager
- Sales Agent
- State Sales Manager
- Loss Control Consultant/Specialist
- Risk Consultant
An insurance underwriter decides whether someone seeking coverage should be provided with that insurance. The underwriter evaluates the candidate for risk and determines if the applicant meets the minimum criteria.
An underwriter might also help set prices for various insurance policies depending on the determined risk. Most underwriters work for insurance brokers, and others might work for particular insurance companies. Underwriters tend to specialize in one area of coverage, such as auto insurance or life insurance.
- Underwriting Manager
If you are analytical, detail-oriented, and have strong interpersonal and communication skills, you may be well-suited for a position in the insurance industry.
How to Learn More About Insurance Careers
If a position piques your interest, gather additional data such as job responsibilities, work schedule, and education and licensing requirements to determine if it is something worth pursuing. The U.S. Bureau of Labor Statistics’ Occupational Outlook Handbook provides employment information for specific jobs, including those in the insurance industry.