What is Insurance?
Insurance is a form of risk management used by individuals and companies to hedge against a possible uncertain loss. Insurance professionals undertake a variety of services including calculating the cost of insurance, the terms and conditions of providing the insurance and the investigation and payment of insurance claims.
- Insurance broker
- Insurance risk surveyor
- Insurance underwriter
- Insurance claims inspector
What skills do you need to work in insurance?
- Research and analysis
- Excellent attention to detail
- Effective communication and interpersonal skills
- Numerical dexterity
- Excellent customer service skills
- Negotiation and selling ability
Where do insurance professionals work?
Insurance professions will often specialize in one of the following areas:
- Insurance brokerage
- Insurance underwriting
- Corporate finance
- Investment banking
Typical work activities
- Gathering information
- Investigating claims
- Advising clients on risk and risk management
- Calculating levels of risk
- Deciding whether to accept insurance applications
- Collecting insurance premiums and managing insurance accounts
- Selling products to customers
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