Survey of young insurance professionals finds 93 percent are proud to work in the industry
Malvern, Pennsylvania, January 31, 2017 — The second annual Insurance Careers Month kicks off Feb. 1, 2017, rallying young insurance professionals around the world to share pride in their careers and stimulate interest in the industry among their peers. First organized in 2016, the objective of Insurance Careers Month is to encourage carriers, brokers, agents and industry associations to plan their own outreach to young people to help spread awareness of the diverse career options that insurance offers.
Last year’s inaugural event saw hundreds of companies participate. Momentum has grown significantly and the monthly observance has transitioned to a year-round campaign called the Insurance Careers Movement.
This past December, Hamilton Chairman and CEO Brian Duperreault was joined by other industry CEOs in a virtual town hall in which they called on young professionals to take an active role in spreading the word to friends and relatives that insurance is the “careers trifecta: stable, rewarding and limitless.” Industry representatives from 10 countries joined the call, a development that Mr. Duperreault called “unprecedented.”
A survey conducted among Town Hall participants found that 73 percent of respondents have already taken some action to convince peers to join the insurance industry. Ninety three percent said they were proud to work in the insurance industry.
Fifty seven percent of respondents cited lack of awareness and understanding as the main issue preventing high school and university students from considering insurance.
Organizers of the Insurance Careers Movement also ran a contest among young insurance professionals, asking them to respond in 200 words or less to the question “Why should other young professionals explore a career in insurance?” The winners were:
Ashley Fitzsimmons, a licensed agent and insurance specialist from Fitzsimmons Insurance Agency in Forest City, Pennsylvania, who stated:
As a little kid, we dream about being firefighters, policemen, superheroes — all occupations that help people. Protect people. Save people. Take a step back and look at insurance agents. We help. We protect. We save. We ARE superheroes. We are the superheroes putting a blanket over our client’s shoulders as they stand outside their home after a fire. We are the superheroes helping them put their lives back together after a loss. This industry is so much more than writing policies. Don’t get me wrong – if you have passion and work hard, this can be a very lucrative industry financially. But the relationships I have gained both with clients and other young professionals in the world of insurance have proven to be priceless. You can’t put a price on a sincere thank you from someone you helped. We may not look like your everyday superhero – but we’re here. Ready to jump into action. Besides… have you ever seen Batman and your agent in the same room? That's what I thought...
Laura Peterson, Marketing Assistant with OneBeacon Government Risks in Parker, Colorado, who stated:
Never in a million years did I think I would end up in the insurance industry. I had the misperception, like many, that insurance was boring. Yet, four years later, here I am. Why? Three words: stability, growth, opportunity. I, like many professionals in the industry, did not go to school with the intention of working in insurance. Because of that, every day is a new challenge. I am constantly learning new things, which is by far the most rewarding part of my career. I am challenged to lead new projects, understand the materials and topics, bring new ideas and be a part of the process. I am challenged daily to think like an owner and to do and be more. 50% of the industry’s workforce is over 45 years of age. With that being said, in 5 to 10 years many of those people will be retiring, and who will take their place? The answer is me and you! Because of this, my career is more stable than most. There is more to insurance than you know. Take a chance; opportunity is knocking.
Donovan Burgess, Junior Underwriter with XL Catlin in Bermuda, who stated:
"A career in insurance is the TOTAL PACKAGE! It’s reputable, being a staple of the global economy, and it’s dynamic. You can easily find yourself dealing with the best companies in the world, exposed to international employment and networking opportunities, or providing a viable
source of assistance after a catastrophic event. It offers a great work-life balance and provides abundant channels for growth.
It’s suitable for everyone. You can channel into the industry from almost any educational background, personality type, or prior career focus as it connects and incorporates an array of professions: actuaries, data analyst, accountants, relationship managers, software developers, lawyers, etc. This further fosters amazing collaboration opportunities and allows for the potential broadening of your own career prospective. Also, there are many senior insurance leaders who are passionate about developing the next generation of professionals. A career in insurance can be prosperous for you.
About Insurance Careers Month and Insurance Careers Movement
A collaborative of more than 600 insurance carriers, agents/brokers, trade associations and industry partners launched the Insurance Career Movement, beginning with the first-ever Insurance Careers Month in February 2016. Insurance Careers Movement is a cross-industry, multi-phased initiative designed to raise awareness of the dynamic career opportunities in the risk management and insurance profession and to recruit the next generation of industry leaders.
Hamilton Insurance Group; MyPath, powered by The Institutes; Valen Analytics; The Jacobson Group; InVEST; and PCI have designated each February for a month-long focus on careers in insurance. The campaign promotes insurance as “the career trifecta”, a phrase chosen because it encapsulates the three key attributes of a job in insurance: it’s stable, it’s rewarding, and it’s limitless. To learn more and get involved, visit: http://insurancecareertrifecta.org/
For ideas and resources to participate in Insurance Careers Month, go to InsuranceCareersTrifecta.org, and follow the conversation on Twitter using the hashtag #CareerTrifecta.