Making a meaningful, positive impact on the world is a core value recent college grads share. But anything from financial considerations to market forces and more can make finding that career difficult.
One industry on the cusp of major change whose pivot directly aligns with Gen Z’s values is insurance. With an uptick in natural disasters, the insurance industry is set to shift to 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.
Forecasted Insurance Industry Changes Align with Gen Z Values
According to Deloitte’s 2024 Global Insurance Outlook, most insurers are pivoting into proactive measures to prevent losses from happening in the first place. Deloitte believes this will turn the entire insurance industry into “a sustainability ambassador, influencing and propelling purpose-driven decisions and strategies of clients across industries to create a better workplace, marketplace, and society.”
In short, insurance is set to play an even more meaningful role in improving society in 2024. Just what Gen Z is looking for when considering career paths and job opportunities: purpose, meaning, and contribution.
In fact, another study, this time from Deloitte Digital, found that 61% of Gen Zers see the work they do as a big part of their identity. A job that helps them contribute to the greater good and support others is an attractive one to the newest wave of young professionals.
Recent Changes to the Insurance Industry
Deloitte’s forecast is just that, a prediction. And a big one at that. Is this shift already underway? What ways are contemporary insurance companies making these positive changes?
Insurance companies have financial reasons to focus heavily on ensuring global risks are minimized, but they are not looking at necessarily cutting access to coverage. Instead, they’ve worked to create more hands-on tools and support within their customer base to minimize risks. Their goal has shifted to preventing losses from occurring in the first place, and that ultimately means they are protecting lives and property as a result.
Insurance companies are also transforming the way they operate to achieve customer-centricity and elevate their own meaningful impact—and they are doing it with more technology and resources than ever. Plus, employees are working more collaboratively within the organization as well as with customers to make it easier for everyone to get the support they need.
The Insurance Industry's Evolving Culture
There’s little doubt the “old” world of insurance was very corporate. Much of that has changed in the last few years, however, creating a unique opportunity for those who are younger and want to create an impact.
The insurance industry allows professionals to play an invaluable role in supporting the people in their community during some of the hardest times of their lives. Plus, insurance professionals have a host of career options—such as risk management and financial planning—that are also vital services every community needs.
With the insurance industry projected to make another pivot to support their communities even more, now is the perfect time to align those goals with Gen Z’s interests and lead the industry into the next generation.
What You Can Expect From an Insurance Career
While many people have some form of insurance, its seemingly mundane necessity has caused some to overlook what could be a fulfilling career in the industry.
Today, insurance companies and agents are more hands-on than ever. They are readily available as the first line of help after fires, theft, and attacks. Responding to customers or affected areas in tough times is a vital role of the insurance professional and goes a long way in supporting their community.
Aside from selling policies, what do insurance professionals do for customers? In short, they offer support when and where it’s needed most.
They snap photos of damage to a car, for example, when an auto claim is made, ensuring all damage is properly reported to help expedite repairs. After a hurricane, they make lists of everything lost or damaged as well as assess those damages. Part of assessing damages may also involve interviewing all parties to gather more information on the incident. Insurance professionals can also help negotiate with third parties to reach a fair settlement.
Sometimes a situation demands more support and empathy than an app can deliver. The value of an insurance professional’s work to alleviate incredible financial burdens in a time of need should never be underestimated. In that moment of need, you’re helping that client recover emotionally as much as financially.
How to Make Your Mark in the Insurance Industry
Once you have completed your insurance exam, you can dive into a transforming industry and make your mark. Industries with uncertain futures are always on the lookout for new leaders. Do you have what it takes?
With license in hand, one of the best ways to stay sharp enough to respond to any new challenges is with insurance continuing education. Becoming a leader in the industry begins with mastering product knowledge alongside experience in the field. Not only will insurance CE give you the latest updates and trends in insurance, selecting your courses with some strategy in mind can give a competitive edge. As you select your courses, ask yourself, “What trends are shaping the industry? And what courses best prepare me to meet that moment and succeed?”
Plus, you can expand your horizons beyond insurance with additional professional certifications in risk management, finance, investing, and more. Each has natural overlaps into insurance, and all are vital to a healthy community. And each can steer your career in a variety of directions, meaning a career in insurance is never just a career in insurance.
Is a Career in Insurance Right for You?
If you’re interested in taking the leap into insurance, the first step is with insurance exam prep. Online exam prep courses and study aids not only offer insights into what’s on the exam, but offer invaluable foundational knowledge of the insurance industry for some early momentum. Practice exams give you time to get comfortable taking a timed test and helps you spot where you need to focus your study efforts most to ensure you pass.
Another way to help ensure early success is through effective training using real world scenarios to prepare you for the field. WebCE’s EXCEED insurance training series offer short episodes to apply foundational insurance concepts and products to actual situations you will encounter. This approach goes beyond academics to prepare you for the unexpected. Plus, short 2-3 minute micro-learning videos that offer a mix of real-world situations and knowledge checks are the perfect stress-free place to fine tune your expertise.
With your career in full swing, you and every other insurance professional must regularly complete insurance continuing education to maintain your license. World-class insurance CE, like WebCE’s, should be from trusted experts bringing you the most up-to-date information. Our expansive catalog offers courses on a variety of topics—including professional certifications—to foster success throughout your career, wherever it may take you.
There’s so much more to the insurance industry than meets the eye. If you’d like help navigating it all, our award-winning Support Services team is happy to help at 877-488-9308.