These are the sellers who sell insurance policies. From the first contact with prospective customers, they should have strong communication skills, as they explain the details of insurance policies and premiums and help determine which solution is best for the customer. Insurance sellers also establish long-term relationships with their customers, helping them to renew, adjust and process policy claims. When an insured needs to file a claim, they often go to their insurance agent for guidance on steps to follow.
This career is ideal for motivated, people-oriented professionals who enjoy networking, problem solving, and helping clients ensure their financial well-being. Kalyn joined Goodwin Recruiting with more than a decade of experience in hotel operations, leadership and management. She is known for her value-based approach, strong team-building skills, and commitment to excellence. Kalyn's experience in different sectors, from medicine and construction to hospitality and finance, has made her highly effective in hiring staff throughout the entire cycle. Stacey has a degree in Business Administration from Florida Atlantic University.
Ben has a degree in Culinary Arts from Sullivan University and a degree in Criminal Justice from the University of Louisville. Usually, a life insurance agent receives between 30 and 90% of the amount paid by the customer for a policy (also known as a premium) during the first year. In later years, the agent may receive between 3% and 10% of each year's premium, which are also known as “renewals” or “cumulative fees”. Jacobson also noted that while layoffs in the financial services industry in general have reached their lowest point in 10 years, the opposite is true in terms of the number of people leaving their jobs, which reached its highest level in a decade.
According to the study, more than two-thirds (68%) of insurance companies plan to increase their workforce in the next 12 months, an increase of 12 percentage points compared to last year. These are the 10 highest-paying jobs in the insurance industry, according to the company's calculations. A consulting actuary provides accounting and risk assessment advice to customers. The position involves several years of experience in the actuarial field and skills related to carrying out financial audits and risk models.
This type of professional can work as part of a large consulting agency or as a freelancer. Professionals in this line help determine the prices of life insurance policies to minimize costs and risks. Its functions include evaluating customer risks, performing financial analysis and creating reports for sellers and management. Those who wish to pursue a career as life insurance actuaries must have a degree in mathematics, actuarial science, or a related field, and a professional actuary certification.
A price actuary is a statistician who works in financial services, including insurance. They help determine the price of products by calculating risks and analyzing data, in order to ensure coverage of company expenses, such as the cost of claims or employee retirement. Actuaries need strong analytical and computer skills. A degree in mathematics, statistics or actuarial science is also required. Like that of an actuary, this role involves evaluating the risks associated with insuring individuals, businesses or assets, but they focus more on individual cases and are responsible for setting insurance prices.
Health actuaries, who work for healthcare organizations and insurance companies, analyze healthcare data and market trends to determine future financial and strategic plans. An insurance actuary is a professional who uses statistics and mathematics to assess the risk and uncertainty of an insurance company. In fact, more than any other factor, including education and experience, life insurance agents must possess a fighting spirit. Life insurance is a contract between an insurance company and a policyholder in which the insurer guarantees to pay a sum of money to one or more designated beneficiaries when the insured person dies.
Insurance company One Inc., which provides insurers with a digital payment platform, shared the main reasons why working in the insurance industry is a good option. Many insurance company recruiters refuse to interview a potential agent who doesn't make a follow-up call first; this is considered a solid indicator of a potential agent's tenacity. Compare SIAA Insurance to Renegade Insurance based on customer service, experience, claims processing, and overall suitability and reputation. According to the study on the insurance labor market, the most difficult positions to fill are those related to technology, actuary, analysis, claims and underwriting.
Insurance agents who sell this type of coverage are either “captive agents,” meaning they only sell insurance from one company, or “non-captive agents,” meaning they represent several insurance companies. The insurance industry grows and evolves every year, and today's insurance landscape is more dynamic than never. Either way, the typical insurance agent will spend most of their time doing some type of marketing activity to identify people who might need new or additional insurance coverage, providing them with quotes from the companies they represent and persuading them to sign the new insurance contract. The sales commission that life insurance agents could earn during the first year if they only have a commission salary; that's the highest commission of any type of insurance.
Employment of insurance sales agents is expected to grow 6% through 2033, faster than the average for all occupations. Currently, insurance agents are licensed by the state or states in which they are going to sell insurance.
