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Why Insurance is a Smart Career Choice for New Grads

By WebCE
Mar 22, 2024

Why Insurance is a Smart Career Choice for New Graduates

Recent graduates experiencing uncertainty about their future is common. Hopping jobs and even switching careers two or three times is becoming the norm among Gen Z. Factors like flexible schedules, work-life balance, and sufficient training to find success early are all at the top of their list when considering a change.

One unsuspecting industry offers a surprising number of opportunities for young professionals and recent grads to grow their skills, find success, and open doors to a host of rewarding opportunities.

The industry? Insurance.

Here’s why.

Entering the Insurance Industry is Easier Than Others

Recent grads want to dive in and find success. They do not want to be bogged down by another lengthy educational journey into a new career. What makes the insurance industry easier to enter are all the transferrable skills many graduates have that perfectly align with that of an insurance professional.

Grads who majored in business, marketing, finance, or something similar have the foundational skills needed to succeed in insurance. These disciplines provide students with a deep understanding of economic principles, financial analysis, strategic planning, and effective communication—all of which are essential aspects of the insurance industry.

A background in business offers advantages in understanding complex market dynamics, assessing risk, and developing sound strategies to mitigate potential losses. Budding marketers bring valuable insights into customer behavior, market trends, and promotional strategies critical for attracting and retaining clients. Similarly, finance majors are often well-versed in managing money, evaluating investment opportunities, and assessing the viability of insurance products and services.

Beyond these disciplines, others that have strong analytical skills, an attention to detail, and an ability to interpret data find success as they are indispensable in the industry.

Why Consider a Career in Insurance?

Qualifications aside, why insurance? In short, for the sheer number of opportunities.

Many Available Positions

The U.S. Bureau of Labor Statistics expects 50% of the current insurance workforce to retire by 2036, amounting to more than 400,000 open positions in the next twelve years. All this at a time when insurance products are in increasingly high demand.

These numbers amount to many opportunities for advancement and competition for talent. The more competition for talent, the more leverage a potential employee has. This leverage often means more competitive salary and benefits.

A Variety of Roles

Roles in the industry vary widely, from fieldwork to risk assessment to marketing. The roles include working as a claims adjuster, insurance underwriter, claims and processing administration, and management. On top of that, insurance offers numerous product lines for more specialization. These product lines include personal lines, property and casualty, and life insurance.

For a peek into what insurance professionals do on a daily basis, check out our blogs on What Do Insurance Adjusters Do? and What is an Insurance Underwriter?

Maintain Your Series 63 License

A career in insurance is never just a career in insurance. The insurance industry has several overlaps with other industries, such as finance and real estate, that some enter to offer a greater variety of services. When someone buys a house, they also need insurance. Life insurance has many direct intersections with investing. With experience and an increased understanding of the industry, some insurance professionals pursue their niche and develop their expertise based on the work and lifestyle they prefer.

Insurance is a Meaningful Career

Finally, insurance offers a chance to make a meaningful, positive impact on the world. With an uptick in natural disasters, the insurance industry is set to shift to being an ambassador of sustainability to help communities prevent loss in the first place. This presents a fresh opportunity for young professionals to not just shape the future of the insurance industry, but play an active role in protecting their community on a grassroots level.

Read all about what’s in store for the future of the insurance industry and how Gen Z can help shape it in our blog Why Insurance is a Meaningful Career.

Beginning an Insurance Career

Since most of the training is on-the-job, entering the insurance industry only requires a licensing exam. For those without prior experience with the industry, it is recommended they complete an insurance license exam prep course.

WebCE offers online insurance exam prep courses that include coverage of every topic on the licensing exam. Each insurance prelicensing course comes with unlimited practice exams, online flash cards, and a study planner to adapt the course to any schedule. Plus, WebCE’s EXCEED insurance training program can give you the tools to sharpen your expertise and prepare for early success.