Project Report on INSURANCE AS A CAREER SEMISTER VI PROJECT GUIDE PROF.SMT. SMITA KUNTAY (M.Com, M,Phil, B.Ed) T.Y B.

COM (BANKING & INSURANCE) 2012-2013 Submitted to university of Mumbai in part fulfillment to requirements for the Award of the Degree of b.com( Banking & Insurance) SUBMITTED BY MAHESH JAGADALE ROLL NO 12 SYDENHAM COLLEGE OF COMMERCE AND ECONOMICS, CHURCHGATE, MUMBAI - 400020

DECLARATION
I, MAHESH JAGADALE Student of B.Com (Banking & Insurance) Semester VI -20122013) declare that I have completed the project on INSURANCE AS A CAREER Whenever the data/information have been taken from any book or other sources the same has been mentioned in the Bibliography.

The information submitted is true and original to the best of my knowledge.

Signature of the student

(MAHESH JAGADALE)

ACKNOWLEDGEMENT

I express my sincerest gratitude and thanks to PROF.SMT. SMITA KUNTAY (BBI HOD) for whose kindness he advising me during whole time of my research report. Under his brilliant untiring guidance I could complete the research report being undertaken on the INSURANCE AS A CAREER successfully in time. His meticulous attention and invaluable suggestions have helped me in simplifying the problem involved in the work.

I would like to thank my family members, my colleagues and other staff of BBI Office who provided me the required help when I need.

EXCUTIVE SUMMARY
I have great pleasure in presenting this project of I have made a sincere effort to make this project informative and I am sure it would help in understanding the concept of INSURANCE AS A CAREER in a better way. I am very thankful to Professor SMT. SMITA KUNTAY madam for his responses and suggestions which have necessitated for successful project.

MUMBAI

INDEX
SR. NO. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 CONTENTS INTRODUCTION RANGE OF JOBS COURCES OCCUPATIONAL CAREER IN INSURANCE OPPORTUNITIES SALARY AND PROSPECTS TYPICAL TASKS FACT AND TRENDS SKILLS AND ATTRIBUTES REMUNERATION GATEWAY TO CAREER IN INSURANCE CONCLUSION SUGGESTION BIBLOGRAPHY PAGE NO. 6 8 12 16 17 19 20 21 23 23 24 26 27 28

INTRODUCTION
Today, many of the best jobs in finance are nowhere near Wall Street; theyre in the insurance business; 2.5 million Americans work in this trillion -dollar industry. Because population continues to rise, as does individual wealth, the need for insurance will continue to grow. Working in insurance means assisting companies and individuals in guarding themselves against loss.

Risk management is an integral part of the work. Those in the insurance business can expect stimulating, lucrative environment. As an insurance professional, you will guide customers in identifying the type, and level of insurance necessary, and help them purchase the correct policy. Positions in the insurance agency include sales representative, underwriter, customer service representative, asset manager, or actuary. Despite the used car salesman image that insurance agents are sometimes pegged with, the agents of today focus more than ever on the assisting customers in their time of need.

There are a wide range of careers in insurance, from insurance agent careers to insurance adjuster careers, plus careers in insurance sales, insurance broker careers, life insurance sales careers, etc. In this article we look at this careers, plus a whole raft of further potential careers. As well as different job titles there are also a number of different sectors for you to consider from life insurance careers and careers in medical insurance to pet insurance careers, plus specialist careers in risk management insurance, state farm insurance careers and farmer insurance careers.

Would a Career in Insurance Suit You?

Many insurance sales agents and claims adjusters work irregular hours outside the office. They frequently arrange their own hours, which include evening and weekend appointments, i.e., when their clients are available. Underwriters often work a standard office week, yet can be called on to do longer hours. Many are based in the companys head (or home) office, but may attend conferences and meetings at some distance, meaning they must be away for a few days. Many administrative workers put in a standard office week. Executives and managers may do so, but frequently work longer hours. Call centre workers operate on daytime, evening and weekend shifts. Nearly 10% of this workforce is able to work part time. For underwriting jobs, you will usually need a degree in business administration or finance, with courses or experience in accounting. Yet if youve done a different degree and have additional courses in business law and accounting, you may still qualify. Computer knowledge is essential. Once employed, you will benefit from the insurers own training programs, which will prepare you for advancement in the company. To gain employment as an insurance agent, you will need to have a decent standard of education, plus proficiency in maths. A confident manner and the ability to interact with a lot of people is essential, plus a good memory and the ability read through a lot of information about different insurance products. Attention to detail and the ability to use a computer are also important.

Range of jobs
Following are examples of some of these positions, along with a brief job description of each: Underwriter - An Underwriter assesses the extent of a risk in a proposal, and decides how much of the risk should be accepted and on what terms. This can often involve a certain amount of technical knowledge, for example, if insuring a ship. Underwriters work for Lloyds of London, the International Underwriting Association of London (IUA), or for an insurance company. The environment of each is quite different so consider each carefully. An underwriter would study risk reports, look at health and safety procedures and consider reinsurance to spread the risk taken on. An enquiring mind, attention to detail, decision-making skills, initiative, sound judgment and excellent communication skills are all vital. Getting business often depends on personal contacts and reputation. Working to tight deadlines in small teams and in an increasingly international environment are characteristics of the role. A background in law, economics, business studies, science or engineering is particularly useful. Some specialist areas value biological or medical knowledge. Insurance Sales - Insurance Sales staff focus on advising clients on the most appropriate product to satisfy their needs. The ability to absorb and communicate technical insurance product information to lay people must be achieved in a balanced way. Building and fostering relationships with both personal and commercial clients is key to this role. Excellent interpersonal and influencing skills are essential.

 Insurance Brokers - Insurance Brokers act as intermediaries between those seeking insurance and those accepting the risks involved, and are independent of insurance companies. They have to liaise with individuals for personal insurance issues or with corporate clients for bigger insurance risks. Brokers can specialize in particular areas of insurance and will register to act. Lloyds brokers are the only brokers allowed to operate at Lloyds insurance market. Work involves generating business, placing risks, handling claims and providing technical back up. Some of these areas of work can be subdivided further, with some staff concentrating on client liaison and others on liaising with underwriters etc. Technical understanding of products and the ability to build close relationships with clients are important here. Your work may take you wherever your clients are, so negotiations can be anywhere in the world. Risk Analysts - Risk Analysts analyze and evaluate potential areas of risk, which impact on the assets or earning capacity of an organization. They work in a range of sectors and not just insurance. Within insurance they will conduct research, apply statistical methods and use mathematical models to analyze risk and make recommendations on controlling and reducing risk. This involves reviewing legal documentation and presenting ideas via presentations, reports and meetings. Skills for this role are strongly analytical and numerate, but interpersonal skills are still important. A good understanding of insurance, the insurance market, commerce in general and issues relating to risk is vital, but is generally developed on the job. Many study postgraduate courses in risk management before applying.

 Claims Inspectors - . Claims Inspectors must decide whether an investigation is required once an insurance claim has been submitted. These decisions have to be based on an analysis of the situation and sound judgment; in addition good communication is needed to keep the customer informed about action to be taken. Often claims inspectors will focus on the less complex claims and pass claims requiring an independent view on to a Loss Adjuster, who is employed by the insurance company concerned (see below), though this is not always the case. Many years of experience in claims are expected before it is possible to move into the position of Claims Inspector. Loss Adjuster - The Loss Adjuster is a specialist claims inspector and requires similar skills. These include: information gathering, interviewing customers and people involved in the events or activity surrounding the claim, producing reports (which can be quite technical and include site layouts), health and safety restrictions, etc. A technical, thorough, detailed and analytical mind is required along with the diplomacy required to handle often distraught customers. Trust and integrity are also important qualities, as are powers of observation and a detective approach. Investment Fund Managers - Investment Fund Managers have to oversee, and make decisions relating to, the investment of premiums received from clients. The performance of those funds must hit targets that at least cover the life policy bonuses and offset any underwriting losses, so the role is an important one for insurance companies. High caliber graduates are sought for these positions and, although a sound level of numeracy is important for all insurance positions, it is particularly important here. Analytical skills, sound judgment and good

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interpersonal skills are also vital. For many of these roles language and IT skills are valued. Re-insurance - is more an area of insurance than a job title and involves insurance companies gaining insurance to cover their own risks. Re-insurance is a broad field embracing many of the disciplines in the wider insurance industry, listed above. It is distinguished by the sheer scale of risks and the international nature of the companies involved. After general training you will enjoy opportunities to specialize in one aspect of re-insurance, such as broking or to focus on an economic region or industry sector such as marine or aviation. Re-insurance companies are typically large organizations and many offer structured graduate entry programmes that provide broad experience before you begin to specialize. You are also likely to be encouraged to pursue CII qualifications and accreditation and in many cases Lloyd's qualifications as well. Insurance Adjusters, Examiners and Investigators: Decide whether claims are covered by the customer's policy, confirm payment and , when necessary, investigate the circumstances surrounding a claim. Claims adjusters work for property and liability insurance carriers or for independent adjusting firms. They plan and schedule the work required to process claims, which includes interviewing the claimant and witnesses, consulting police and hospital records, and inspecting property damage to determine the extent of the insurance company's liability. Claims examiners investigate questionable claims, or those exceeding a designated amount. In life and health insurance carriers, they are the counterparts of the claims adjusters.

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 Higher Level Positions Executive, managerial or administrative jobs account for about three in 10 insurance workers. Here are some typical positions: Sales Managers Sell insurance products work with clients and supervise staff. Other managers who work in home offices are in charge of departments, such as actuarial calculations, policy issuance, accounting and investments. These people constitute the majority of managers in carriers' local sales offices and in the agents and brokers segment. Risk Managers Assess various risks faced by insurance companies. Sales Staff Sell policies to individuals and businesses. About 15 percent of wage and salary employees are sales staff. Insurance sales workers include insurance agents and brokers, also known as producers. Insurance sales workers can be further classified into three categories: Exclusive Agents (sometimes called Captive Agents)Independent Agents Brokers As you can see, the insurance industry offers quite a variety of career options. But if you don't find the right fit for your skills, you may want to explore the many options in the investment sector.

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 Actuaries: Graduates with 55% marks in Mathematics/ Statistics/ Econometrics/ Computer science or MBA in finance, CA, CWA, MCA are eligible to join for actuary training. Training in this field can be pursued from the Actuarial Society of India (ASI), Mumbai or The Institute And Faculty of Actuaries, London, UK. To work as an Actuary, one has to pass an entrance exam conducted by these institutes twice a year, in May-June and October-November. The post of Assistants, Typists, Machine Operators, Stenographer, Telephone Operators, Clerks etc. are open to graduates and school-leavers and the age limit is between 18 to 25 years. The candidates applying have to go through a written test and interview. The eligibility criterion for recruitment to both the LIC and GIC is the same. Those who have passed the Licentiate Examination of the Insurance Institute of India, will get preference in LIC and GIC recruitments

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Insurance Courses
WANT TO make a career in the Insurance Industry? There is no one specific way to start off. An aspirant must decide what he/she wants to do at the entry level work in operations, underwriting, actuarial, training departments or sell insurance. For fresh graduates with a flair for communication and selling ideas and therefore policies to people, private insurance firms are waiting. Much of the training will come from the firm itself, though a host of professional courses can be taken alongside. For several everyday functions too, fresh graduates are hired. They may fill positions in accounting, data entry, logistics support and do jobs such as calling up customers to get their correct addresses and filling up various forms. For those keen on becoming underwriters, at least a year of post-graduate study could swing that job interview. Many institutes offer post-graduate courses in insurance and finance. A handful are respected for their academic excellence and getting a degree from one of them could well be worth it.

1. Three-tier course offered by Insurance Institute of India (I.I.I)

The Insurance Institute of India was established in the year 1955, for the purpose of promoting Insurance Education & Training in the country. Institute qualifications are held in esteem both by the regulator and the industry. In its role as a leading education and training provider I.I.I. is closely associated with all the segments of the insurance industry which includes Insurance regulatory authority of India, public and private sector insurance companies. The most popular and perhaps the most cost-effective way to acquire insurance qualifications is to take the three-tier course offered by the Insurance Institute of India. "Triple I," as some in the insurance industry call it, offers an introductory "Licentiate" course, an intermediate "Associate" course and an advanced "Fellow" course. I.I.I conducts Licentiate, Associate ship and Fellowship Examinations twice a year. (i.e. May and November). An aspirant must necessarily start with the Licentiate's course and work his/her way up. The introductory course requires no more than an SSC qualification. The subsequent two courses require candidates to have cleared the previous level. So, if you want to take the Fellow's course, you must have cleared the Associate's course. Insurance firms value these qualifications when hiring people. After passing the Associate ship examination and after getting elected you may add with your name A.I.I.I and on completion of fellowship and election F.I.I.I. All the Public Sector Insurance Company and Private Insurance Company recognize the Institute's diploma as
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one of the highest qualification in Insurance and they encourage their employees to appear for the Institutes examinations. Public Sector Insurance Companies offer cash incentives to their employees who pass the institute examination.

2. Actuarial course: Rigorous study

The first point for embarking on training to be an actuary is on attaining 18 years of age and having passed 10+2 with at least 85 per cent in Maths or Statistics. Generally, first class graduates or postgraduates in Mathematics, Statistics or Econometrics will be in a better position than others to qualify as actuaries. To qualify as an Actuary, a candidate has to pass all examinations in the prescribed subjects spread over four groups called Series -- CT, CA, ST and SA in all, 15 subjects. In addition, he has to comply with other criteria such as experience requirement and attendance at a professionalism course prescribed for the purpose. Institute of Actuaries of India conducts the training programmes. In India, a "Fellow Member" of the Actuarial Society of India (ASI), a professional body, is called an actuary. ASI prescribes a course of study and conducts examinations as well. It does not bar students with other degrees, but there will be no escape from the tough four to six years of study required to master the basics of actuarial science. Most aspirants join an actuarial department of an insurance firm as apprentices, and study the ASI course alongside. It is hard work, but for those with aptitude for statistical modelling, the returns are good. The ASIs website, www.actuariesindia.org, has a "Frequently Asked Questions" in addition to other sections that gives accurate information on what actuaries do and on how to become one.

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3. Full time Course

Some of the top rated full time insurance courses involve the following institutions National Insurance Academy, Pune Institute of Insurance and Risk Management (IIRM), Hyderabad International Institute for Insurance and Finance, Hyderabad: Narsee Monjee Institute of Management Studies, Mumbai University of Mumbai: 3-year B.Com degree programme with Banking and Insurance

4. International courses: Self-study programmes

a. LOMA For those who like international exposure and recognition, the Life Offices Management Association (LOMA) in the U.S. offers a 10-course self-study programme that will earn a successful candidate the certificate of Fellow of Life Management Institute (FLMI). The programme is usually taken by people who are already working in a life insurance firm. LOMA is an association of over 1250 insurance and financial services companies from more than 60 countries. FLMI is a coveted certification and the recipients insurance knowledge is taken for granted by insurance companies. It is a quality standard for the insurance industry. Several multinational life insurance firms are member- partners of LOMA and nominate their meritorious employees to take up the FLMI course. Such employees get a chance to study the course at a discount and often, successful candidates find that their employers waive the expenses, for the qualification is valued and often a springboard for promotions and/or better offers from rival firms.

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Even Indian IT firms looking for talented people with some "domain experience" in life insurance business consider hiring FLMI-qualified candidates. FLMI is open to individual candidates too, but will cost almost double. Also, while those nominated by an insurance firm get to take online tests at their convenience, independent candidates will have to take "paper tests" conducted twice a year at various centers. Independent candidates will also have to wait awhile for their results, whereas the online test takers get to know the results within minutes of completing the tests.

Life Office Management Association, U.S.A. grants 3 exemptions in their FLMI designation to the Fellows (Life) of Insurance Institute of India. LOMA also has a website, www.loma.org.

b. Chartered Insurance Institute (C.I.I), UK As the premier professional body for the financial services profession, the CII promotes higher standards of integrity, technical competence and business capability. With over 90,000 members in more than 150 countries, the CII is the worlds l argest professional body dedicated to this sector. Success in CII qualifications is universally recognized as evidence of knowledge and understanding. Membership of the CII signals a desire to develop broad professional capability and subscribe to the standards associated with professional status. The CII works with businesses to develop bespoke, companywide solutions that ensure competitive advantage by enhancing employees technical and professional competence. Individually, CIIs members are able to drive their personal development and maintain their professional standing through an unrivalled range of learning services and by adhering to the CIIs Code of Ethics & Conduct. CII members are employed with world-class insurance and financial services firms including: Allianz, Accenture, AIG, Aon, AXA Insurance, ACE Insurance, Brit Insurance, Lloyds of London, Lloyds TSB, Marsh, McKinsey, Munich Re, New York Life, Sun Life, AVIVA, ING, Cardiff, HSBC, Deloitte, Goldman Sachs, PwC, Heath Lambert Group, Swiss Re, Munich Re, Prudential, RSA, Hiscox, Willis Re, Jardine Lloyd Thompson, Wilson Re (P&I) Ltd, and many more.

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Occupational Careers in Insurance

The following administrative support occupations, including clerical, account for 40% of insurance-related jobs:

Insurance policy processing clerks. General office clerks. Insurance claims clerks. Office and administrative support supervisors and managers. Secretaries. Adjustment clerks. Bookkeeping, accounting, and auditing clerks. Receptionists and information clerks. File clerks. Word processors and typists. Data entry keyers.

Executive, administrative, and managerial occupations comprise most of the remaining percentage, including:

Insurance adjusters, examiners, and investigators. General managers and top executives. Insurance underwriters. Claims examiners, property and casualty insurance. Accountants and auditors. Financial managers.

Marketing and sales occupations include:

Insurance sales careers. Marketing and sales worker supervisors.

Professional specialty occupations include:

Computer systems analysts, engineers, and scientists.

Technicians and related support occupations include:

Computer programmers. Legal assistants and technicians, except clerical.

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Opportunities for Various Categories of Job Seekers

Undergraduates
There are immense job opportunities for this category in the insurance sector, primarily in sales. Young college students can start their careers in sales by working as sales executives/ trainees/ agents and gain valuable job experience. Once they learn the rules of the game, and become confident, they can be promoted to lead teams. Thousands of vacancies in sales exist in entry level jobs, and the right candidate can kick start their insurance career from an early age. Entry level jobs exist in offices of insurance companies, insurance corporate agents, brokers, banks, and third party administrators.

Graduates in any stream

For graduates, there are immense opportunities in the sales, training, operations, IT, accounts, administration, and customer service functions. With prior work experience in the respective fields, the chances of getting selected are greater. Vacancies exist at entry levels for freshers and managerial levels for experienced graduates. Many companies have tied up with education service providers to offer job guarantees to students who join their courses, and pass the respective exams. For example, IFBI, a subsidiary of NIIT and co-promoted by insurance and banking companies such as ICICI, Corporation bank, ICICI-Prudential etc, offers 6 months program in insurance; and every student is offered appointment letters with the respective promoting companies even before completing the programs. This concept of tie-ups with corporate is on the rise and provides win-win opportunities for the corporate involved, the training companies and the students. For graduates with the entrepreneurship bug, an insurance agency or business partner relationship with an insurer makes sense, and offers great job satisfaction.

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Engineering graduates
They can work as surveyors and loss assessors, in the general insurance field. In life insurance, they can work in the actuarial field provided they possess actuarial qualifications. Nowadays, many engineers are working in the investment & funds management department as analysts.

Medical graduates/ diploma holders

Medical professionals with MBBS, BAMS, and pharmacy qualifications are sought after in the underwriting and claims departments. For doctors, Opportunities exist in Underwriting, Claims, Medico- legal departments, etc. Life insurance proposals require premedical inspection before acceptance of policy proposal.

Professionally qualified persons

Lawyers: Opportunities exist in claim management, claim investigation & related legal aspects. Chartered Accountants: Opportunities exist in Accounts, Finance & Auditing Department, Investment management, claims management, etc. Engineers: Opportunities exist in pre-insurance survey, loss assessment, claims settlement, valuations, etc.

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Salary and Prospects for Insurance Careers

Employment of sales agents and underwriters has slowed down, due to the advances made through development of software applications that considerably decrease data processing time. Mergers of insurance companies have also led to few positions and jobs being combined. Currently, the new jobs are in the growing fields of insurance, such as retirement planning and long-term care insurance. Career prospects continue to be better in health / medical insurance, rather than property, casualty and life insurance. A successful insurance sales agent who also has strong organizational and people skills may advance to become a manager in a local office. Sometimes it is possible to advance to an executive position. However, once a good client base has been built up, its often better to remain in sales work, gaining a good sales commission. Some may go on to establish their own independent agency or brokerage firm.

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Typical Tasks in Insurance Careers

Insurance Sales Agents often visit prospective and existing customers' homes
and places of business to market new products and provide services. On a typical day, the agents work might include:

Preparing reports and records. Identifying possible new clients. Helping policyholders submit claims, if they have suffered a loss. Offering and/or providing other financial services.

Underwriters are usually based in the insurance companys head or main office.
Some of those working in property and casualty can be based in regional offices. Underwriters assess known risks by:

Analyzing data held on software applications. Studying consultants reports. Requesting and analyzing medical reports. Assessing reports from actuaries.

An increasing number of employees are spending time working by phone in Call centers, undertaking the following tasks:

Answering questions. Providing information. Entering data to produce quotations and estimates. Taking claims information. Answering medical questions.

Claims adjusters often have to travel to clients insured properties to inspect

damage, in addition to processing the financial aspects of paying claims.

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Insurance Career Facts and Trends

More and More People are Seeking Coverage

Analysts predict that as risk and liability issues continue to increase in importance throughout the economy, the need for good insurance coverage will rise as well. A study done by the Bureau of Labor statistics states that in the next ten to fifteen years the insurance industry will grow by 20 to 40 percent. In addition, the insurance industry can expect to gain business by providing services to companies that are developing new employee Compensation and benefit packages that offer insurance options.

Only the Strong Will Survive

You should know the status of companies you apply to. It is not unheard of for even large insurance companies to. A number of powerful insurance companies dissolved in the 1980s, Mutual Benefit and Executive Life among them.

Securitization on the Horizon?

There are rumors that some insurers may leave the industry completely and use Securitization or derivative contracts to reinsure their customers. These

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are, for the time being, merely rumors. So far, no investors have stepped forward to support the limited number of catastrophe bonds that do exist.

Do you IT?
In todays market of rules and regulations, insurance companies rely on complex information systems to keep track of customer and policy information. It is not difficult for IT professionals to find work in the insurance agency, particularly because of the increased number of automated policy payments made through payroll deduction.

Health Insurance is Sizzling

As the population has gotten older, the need for health insurance has increased. Despite possible changes in the regulatory environment, healthcare is expected to continue its rapid expansion.

Banks have Entered the Game

More and more banks are offering insurance products to the general public, and there doing it cheaper, and more efficiently. Banks like to offer insurance because it makes their customers sense of security, and customers like banks because of the smaller commissions. Companies that focus on this particular issue include Lifestyle Financial Investments
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Insurance Skills and Attributes

Ability to convince others, presence of mind and dedication for service towards the clients are the deciding factors in this profession. Similarly organizing skill, logical approach, quick grasping skill, good communication skills are always beneficial for managers and officers. In case of an insurance agent, the key- skill required is to have a capability for convincing people along with a great business sense. For surveyors, excellent communication skill coupled with willingness to work outside the office for odd hours are the qualities required.

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Insurance Remuneration
Agents get about 25 to 32 percent of the premium amount in the first year of the policy. In the second and third year they get about 7.5 percent and in fourth and fifth year they get about 5 percent of the premium. After about four years of good performance, an agent may also be entitled to office facilities, car, computer, telephone, maintenance, housing loan etc. Moreover, for an actuary, sky is the limit as this is one of the most rewarding jobs in the insurance sector. Here, entry level salary is expected to be somewhere around Rs. 8 lakh per annum .For the underwriters it is around Rs. 6 lakh per annum. Actuaries are one of the most highly paid people in the insurance sector and the entry level salary is expected to be somewhere around Rs. 8 lakh per annum and with a few years experience they could earn a seven figure salary per annum, especially in the private sector. For the underwriters it is around Rs. 6 lakh per annum.

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Providing a Gateway to Careers in Insurance

Our goal is to tell the industrys story to as many students and career seekers as we can at as many career events and youth-oriented opportunities as possible. Our calendar of career events and promotional opportunities provides extensive outreach during the school year.

On-campus presence
Our multi-pronged approach includes telling the property & casualty industry story at both general and subject-specific career fairs (business students, for example), giving insurance presentations, sponsoring student events and participating in commerce society and business department activities.

In-class career presentations

Ambassador presentations in the classroom help to increase understanding of insurance principles and awareness of the variety of professional careers available in insurance.

Feed the Minds of Youth

This event coincides with The Learning Partnerships annual Take Our Kids to Work day, usually the first Wednesday in November, when grade 9 students can accompany their parent or guardian to work. For insurance organizations who participate in this annual event, there is an opportunity to take part in the Insurance Institutes Feed the Minds of Youth. Each year, local institutes and chapters invite the insurance community to partake in a lunch event that demonstrates to all students the many roles within the insurance industry.

Insurance networking events and insurance fairs

The Career Connections team, along with industry ambassadors, participates and/or hosts industry nights, lunch n learns, panel discussions, round tables and more. Career Connections also hosts insurance-specific career and job fairs, bringing industry employers on campus to enable career seekers to connect with industry employers and available job opportunities.

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Other opportunities
Career Connections is committed to expanding our message to reach as many youth and career seekers as possible. With our extensive network across the country, we can facilitate the opportunities for co-ops or internships, workplace tours, mock interview sessions, employer presence on campus and much more.

Coming soon
More events, activities, advertising and public relations initiatives targeted at reaching our expanded audiences, including career changers and new Canadians. To receive regular updates on Career Connections initiatives, please e-mail your contact information to cconnections@insuranceinstitute.ca and join our network.

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Conclusion
There are a wide range of careers in insurance, from insurance agent careers to insurance adjuster careers, plus careers in insurance sales, insurance broker careers, life insurance sales careers, etc. In this article we look at this career, plus a whole raft of further potential careers.

As well as different job titles there are also a number of different sectors for you to consider from life insurance careers and careers in medical insurance to pet insurance careers, plus specialist careers in risk management insurance, state farm insurance careers and farmer insurance careers.

More than 80% of Indian dont own any kind of insurance policy compared with only 20% in the developed world. The prime reason for this was the absence of any services in the insurance industry with only Life Insurance Corporation of India or LIC, India being a sole player for a long time. But with the entry of a number of private players all this is set to change and we are seeing exceptional growth rate in the industry. This in turn generates a huge number of career and job opportunities in insurance industry.

Insurance signifies an agreement of being covered or protected against any kind of danger of life or to any of the assets possessed by humans. I todays world, insurance is a financial agreement that binds two parties to certain obligations which is known as Policy. This policy can be used to cover certain eventualities e.g. fire, theft, motor accident, etc

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Suggestions:
1. Check the websites of the best Insurance companies for the job openings and apply for the same.

2. Develop an excellent friend and contact circle to avail their reference in future for negotiating in Insurance deals.

3. Read necessary books on selling skills, business etiquette and business communication.

4. Upgrade yourself with latest world Insurance scenario and new strategies that arena being introduced.

5. Update yourself with the various laws and regulations such as IRDA act and the following amendments that may be applicable to Insurance policies.

6. Update yourself with the top-notch finance companies and their

stock exchange status so that you can plan your selling and negotiating accordingly.

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Bibliography
REFERENCES BOOK: INNOVATION IN BANKING AND INSURANCE WRITTEN BY ROMEO S. MASCAREHAS

Webliography
http://career.webindia123.com/ http://managementhelp.org

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