THERE is no specific degree route into the insurance sector but the industry presents significant opportunities for ambitious graduates.
Richard Willis, managing director of Belfast-based Willis Insurance and Risk Management (Willis IRM) explains why there has never been a better time to consider a move to the sector.
CUTTING EDGE
The insurance industry may be centuries old but it remains at the cutting edge of advancement in technology and must constantly evolve to deal with new threats, making it an exciting sector to work in. Recently, it has had to move in new directions to deal with emerging risks, such as cyber crime, climate change and new technologies.
SECURITY
The industry has a global reach, providing security that allows individuals and businesses to operate freely on a world-wide stage. It also provides job security for employees. Firms in the sector proved to be more resilient when faced with the economic downturn compared to other financial industries.
DIVERSITY
Graduates from a diverse range of disciplines can work in the profession. In addition to the traditional insurance brokerage, Willis IRM has added divisions in employment services, accident investigation and wealth management in recent years providing new opportunities for candidates from a wide range of backgrounds.
INFLUENCE
The industry is considered one of the most influential and important to the wider economy. Across the UK, the sector provides employment for 300,000 people.
CAREER PROGRESSION
The industry provides training on the job, meaning you can achieve your professional qualifications while you earn. A typical certificate is the CII Advanced Diploma in Insurance, which takes around three years to complete and offers a globally recognised accreditation. As there is no specific insurance degree, companies are looking for people with the right skills rather than a particular level of knowledge. Willis IRM takes on graduates every year as we continue to grow and last year’s intake is already on a steady career path, training towards industry qualifications – the cost is covered by the firm – and accruing strong pension contributions.