1. Why choose a career in the insurance industry?
Insurance Careers
Why choose a career in the insurance industry?
Chapter 5

2. Agenda A Trusted Choice Independent Insurance Agent
Help your community
Be your own boss
What’s your passion
Job Stability
Flex Scheduling
Insurance is Fun!
Resources
Video

3. Independent Agents
VS.

4. Independent Agents
Trusted Choice Independent Agents represent multiple insurance carriers to offer the best coverage based on your needs
Chubb Group
C N A
Fireman’s Fund
Hanover
Hartford
Liberty Mutual
MetLife
Progressive
SAFECO
State Auto
Travelers
Westfield
When you are at home tonight you can ask your parents who your insurance agent is and who your company is 
State Farm, Allstate and GEICO sell only their own products and coverage

5. Help Your Community
Recent weather events – Hurricanes in OK, Hurricane Sandy in New Jersey
Accidents in winter weather here in Maine
Ice dams

6. Be Your Own Boss

7. Do you like problem solving? Making decisions?

8. What’s Your Passion?

9. Company Actuary or Analyst
What makes a great Actuary?
Detail oriented
Strong math, statistical and analytical skills
Enjoys statistical challenges and probability
National Annual Mean Wage: $107,750
Both the Wall Street Journal and CareerCast agree that being an actuary is one of the best jobs you can land. Actuaries mathematically determine the probability an event will occur using statistics and other information, so keen math and analytical skills are a must. Actuarial science is an important part of determining cost of insurance and sets the terms and conditions of an insurance policy, including premium costs Actuaries need to pass a series of exams through the Casualty Actuarial Society. Many students begin taking these exams while still in college to get a jumpstart on their career.
Education:
Bachelor’s Degree
Actuaries are on the top of an annual ranking of best jobs by Careercast.com, which ranks careers based on dozens of factors, such as the income growth potential, employment outlook, competitiveness, travel and contact with the pu

10. Company Claims Adjuster
What makes a great claims adjuster?
Enjoys helping those at a time of need
Detail-oriented
Passion for investigating situations
Good written and oral communication skills
Strong negotiation skills
Claims adjusters work for an insurance carrier and are responsible for estimating the cost of damage for the customer after an event has occurred. Along with insurance agents, they serve as the first responders.
Claims adjusters perform initial investigations of the facts surrounding a claim, determine if and what coverage applies to the incident and recommend payment to the client. Claims personnel also need to know standard claim settlement policies, procedures and statutory or regulatory requirements.
Education:
High School Degree
Associates or Bachelors preferred
National Mean Wage: $62,340

11. Information Technology
What does it take to be an IT Insurance professional?
Tech savvy
Strategic thinker
Ability to diagnose problems
Great problem solving skills
Detail oriented
Insurance is heavily dependent on technology for day-to-day operations.  IT professionals help develop and maintain the various technology functions necessary to keep agencies and companies operating at peak performance.
Technology specialists are heavily involved in developing new technologies used to predict losses, track customer data and help companies underwrite business. 
Education:
Bachelors Degree
National Mean Wage: $132,570

12. Company Underwriter What makes a great Underwriter? Analytical thinker
Enjoys learning about different types of businesses
Able to understand impact of decisions on stability of company
Strong negotiation skills
Education:
High School Degree
Associates or Bachelors preferred
National Mean Wage: $70,110
An underwriter is responsible for deciding which insurance applications to insure or reject. Underwriters must be able to read and analyze insurance applications, ask the right questions to determine the true exposures presented and determine the appropriate price for insurance based on the exposures of the applicant. 
The underwriter is in a position to obligate the company’s assets to pay for claims and also to increase its income with profitable business. Underwriters are responsible for selection, underwriting, pricing, negotiating and servicing of business for the agent.

13. Lots of Choices in Insurance

14. Job Stability

15. Flexible Schedule

16. Opportunity
Currently 60% of insurance professionals are over age 45 and will be retiring within the next 15 years
What does that mean for you? Lots of opportunities for great jobs in the insurance industry

17. Strive to Achieve

18. Designations

19. Insurance is Fun!

20. Resources

21. Questions or Comments?
Several slides from: Maine Association of Insurance Agents
Wage info. from U.S. Dept. of Labor / 2013