This blog entry is part one in Jacobson’s Insurance Careers Month series, which features our own Millennial bloggers providing their unique insights and insider perspectives into insurance as a great career choice. It is my pleasure to introduce Steve Lessaris as our Millennial guest blogger for this latest post. Steve is a Client Development Manager with our Professional Insurance Recruiting practice. Enjoy...
Individuals, families and businesses nationwide share a common concern: security and stability. Following the recent economic downturn, a larger portion of the population is actively seeking stability in their personal lives, in their finances and—most importantly—in their careers.
In terms of the insurance industry, most people are aware of the three basic coverage areas: health, life, and property and casualty. They have a basic understanding of these three industry pillars and how they provide a safety net within their own lives. However, insurance does so much more and goes far beyond these narrow definitions. In fact, insurance provides stability to our personal lives, as well as the global financial industry.
New technological advances are happening all around us at a rapid pace. As a result, insurers are now seeing the greatest increase in market accessibility in recent history. In response, the industry is expanding its focus and changing up its routine. Insurance is now moving into new and exciting areas—providing security for our financial and personal electronic data and records. In today’s globally connected world, the industry has an obligation to expand this financial security to underinsured markets across the globe, leading to new developments in international products and risks. Beyond these new horizons, the industry is also expanding within its current markets—providing financial-service type products including mutual funds and retirement plans.
However, insurance stability goes far beyond just personal and financial coverage. What most professionals fail to realize is the unparalleled stability offered by a career within the industry. As the industry expands into new frontiers, insurers will need to work to ensure they have the talent to keep up with the latest innovations and demand for new products. In fact, by 2020, the industry will create more than 400,000 job opportunities. These new positions go beyond the agent or claims adjuster roles that most think of in terms of an insurance career. Today’s modern insurance organization offers dynamic careers in accounting, finance, marketing, information technology and much more!
For young professionals, recent graduates and students, the insurance industry provides a great opportunity to develop a secure and challenging career. Each year, nearly four million Baby Boomers are retiring, creating a growing executive skills gap that must be bridged. Faced with such a large talent gap, insurers will be looking to graduates and young professionals to step in and make a difference.
The story of an industry career is one of stability—even in times of dire economic challenges. Individuals and businesses will always need insurance, making it one of the most stable industries in the business world. As the next generation begins to think about their careers and moves into the workforce, the advantages and stability the insurance industry provides should not be overlooked.