10 reasons why you should choose a career in insurance
Published 13/07/2016 | 10:30
Still unsure about what career path to take? Want to switch to a better, more rewarding job? Here are ten reasons you should consider a career in insurance.
Usually when people are unsure about what they want to do, they do a very general degree, but that means three years of full-time study, penny-pinching, beans on toast and no real prospects at the end of it, except more study and paying off student loans. If only there was a way to earn money while you studied and gain valuable work place experience in an industry with lots of opportunities.
Well there is… The Insurance Institute, in partnership with IT Sligo, has developed the Insurance Practitioner Apprenticeship programme, aimed at attracting new talent into the insurance sector. It is unique in that it is the first apprenticeship in which you can study for a level 8 degree over three years.
You can work and earn while you study
Think differently about the standard model of third level study, it doesn’t make much sense. Three years of all-night cramming sessions as well as financial hardship, only to leave college with a tonne of debt and few prospects. A Master’s degree can stave off the hard employment decisions but sooner or later you’re going to have to face that you’re highly qualified, yet inexperienced in a very competitive labour market. With The Insurance Institute’s Insurance Practitioner Apprenticeship programme you can work as the practical part of your study which means you’re set up to hit the ground running in the industry. It also means you can have a career and make plans while your student mates are scrounging around down the back of the sofa for beer money.
A more affordable alternative to a third level qualification
Third level education is expensive – fees, supplies, rent, expenses… most parents are saving for the child’s college education while they’re still in nappies. While it’s not as bad in Ireland as other countries, most students leave university under the weight of debt forcing them to do whatever pays right now, putting off their careers, which dulls any advantage they may have had from their studies in the first place. With the Insurance Practitioner Apprenticeship programme you earn while you study. It’s simple arithmetic – money in to cover money out.
Forget the points race
We all know about the madness of the CAO points race. You need 20 A1s to study Veterinary, Law or Medicine… The stress of filling out your subsequent third, fourth and fifth choices is almost as bad of that of the Leaving Cert. With the Insurance Practitioner Apprenticeship you require a minimum 2 honours in Leaving Cert, plus 4 additional passes including English/Irish and Maths and pass an interview process with an insurance employer. You can sidestep the CAO madness straight into an awesome career. For those over 23 on 1 January of the year of entry, interviews and other selection tools may be used to assess, replacing Leaving Cert entry requirements. Learn more about the programme and entry requirement here.
Insurance is actually one of the industries in Ireland that has a real skills shortage, that’s why the Insurance Practitioner Apprenticeship programme was developed. It’s designed to attract young talent to the industry and future-proof the sector. So there are plenty of jobs in a growing industry. Now with Brexit on the cards and some of the major insurance company’s considering relocating to Ireland, there may well be a whole new world of opportunity in the sector.
Insurance will always be needed
Insurance is a fact of life – it’s everywhere. People will always need it. There will always be risk, there will always be a need to reduce that risk, so there will always be work for people in insurance. It’s no coincidence that international insurance companies are so successful, they sell something for which there is and always will be a very high demand.
A dynamic industry
You might have an image of insurance as a stuffy and bureaucratic industry but you’d be wrong. In fact, insurance is a dynamic industry where innovation and development of new ideas and products is highly appreciated. Technology and innovation are now at the very heart of the industry and there is plenty of room for young people with a ‘can-do’ attitude to change the way things are done.
Good earnings and benefits
Insurance is a profitable industry, so there is a good salary to be had. There is also security in insurance and it is unique in that it can offer exceptional benefits to employees in the industry. In any job, your insurance and pension benefits are a key consideration, but nobody can offer better insurance than insurers. If you ever want to start a family, you’ll be glad you’re in insurance.
Plenty of room to grow
You can scale any heights you wish in the insurance industry. Why be hampered by a stifling advancement structure when you can benefit from regular professional reviews and the opportunity to shoot for the moon in your career?
You’re selling peace of mind
That is, in effect, what insurance provides. We live in a complex society with a lot of potential risk factors. Insurance allows people and businesses to put aside their worries and concentrate on the things that matter.
The good days are the best
Anyone in insurance will tell you, when you get to make that call to tell someone they’re covered or they’ll be looked after in their time of need is just the greatest feeling in the world. That’s what they’re really in insurance for - for days like those. All the other stuff is great though too!
#startyourjourney today with The Insurance Institute at www.iii.ie/be-an-apprentice
The Insurance Institute is the number one provider of insurance education in Ireland. We design and deliver insurance qualifications, training and CPD to 17,500 professionals nationwide. In July 2015, following the government’s approval of 25 new apprenticeships, we developed the Insurance Practitioner Apprenticeship programme, aimed at attracting new talent into the insurance sector. The programme was created with IT Sligo and is the first apprenticeship to offer a level 8 degree.