Monday, January 26, 2009

Job Opportunities in insurance sector

Job Opportunities in insurance sector

With the opening of the insurance sector, new career opportunities are becoming visible in the following streams of insurance:

Every insurance company is in great need of persons who can market its products. Such a person can be an agent/ adviser of the companies concerned, an employee-cum-associate of an insurance broker or a corporate agent of an insurance company. The minimum qualification required is class XII. A person has to undergo at least 100 hours of training to be arranged by the insurance company and has to pass a test, after which a licence is granted by the Insurance Regulatory and Development Authority. If one is willing to work sincerely for at least three to four hours daily, then he can earn about Rs 10,000 per month, which will continue to increase.

Insurance companies
are also recruiting unit/sales managers, who recruit and guide agents to bring new insurance policies. The person to be recruited as a sales manager should be at least a graduate, with some experience in marketing.

Training: All insurance companies are in need of persons who can impart training to their marketing force and other staff. Such training is being outsourced from insurance colleges by some companies while some have their own training managers. A majority of these imparting such training are retired insurance officials.

Insurance courses:
At present about 20 private insurance companies are in the market and are in the process of expanding their activities. They will require qualified persons. Many colleges are introducing insurance as a subject at the graduation level. Some private institutions also offer insurance courses. While choosing a course, a candidate is supposed to be vigilant, as placement cannot be guaranteed by any such course.

Actuarial Science:
If one goes for the actuarial science exam and qualifies even in a few papers, then placement is not a problem. The eligibility for admission is:

(i) 10+2 (HSC) or equivalent with at least 85 per cent marks in mathematics/statistics.

(ii) Graduate/postgraduate with subject like mathematics, etc and must have at least 55 per cent marks in mathematical sciences.

(iii) The medium of instruction must be English.

The total number of papers is 16 and the exams are held every year in May and November, with no restrictions on the number of papers you want to appear in at a time and with no age restriction. The hand book can be obtained from the Actuarial Society of India at the following address: 9, Jeevan Udhyog Building, 3rd Floor, Dr DN Road Fort, Mumbai-400001.


This is one stream of insurance, where the future is secured with a handsome salary.

Source The Tribune

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