How to get into insurance

From the outside looking in, the thought of getting your foot in the door of certain professions can seem daunting. Launching a career in the insurance industry is no exception. However, the fact is there are plenty of pathways into this rewarding and potentially lucrative line of work

To help you understand all your options from day one, in this comprehensive guide, we highlight why working in insurance could be the right choice for you. From higher education to fast-track insurance apprenticeship schemes, we also crucially outline the different steps you may need to take to kickstart your career in this exciting field.

Why work in insurance?

Insurance is a misunderstood profession. Despite often being stereotyped as ‘boring’ or ‘stuffy’, the truth is much different. Indeed, this industry can present you with numerous fulfilling opportunities. These include helping people in your community, acquiring a set of versatile and transferable skills and aligning your career with your own interests – all while enjoying fantastic job security. Check out our top three reasons for embarking on a career in insurance below:

• It’s a stable industry with plenty of growth opportunities

Stability and growth are two fantastic indicators of a solid career path. In the UK, the insurance industry is very robust and is always evolving. This stability translates into steady job prospects and opportunities for career advancement.

• There’s plenty of role variety

The insurance industry generally gets a bad rap. From the outside looking in, this sector can appear dull and even a little old fashioned. This couldn’t be further from the truth. In reality, a career in insurance can mean a variety of different exciting and fast-paced roles. From underwriting and insurance broking to actuarial science and risk assessment, the insurance sector offers a diverse range of roles to suit all skill sets. Whether you’re analytical-minded, customer-focused, or have a knack for problem-solving, there’s a role for you in insurance.

• The industry can provide very competitive pay

On top of the stability and diversity the insurance industry can offer, roles in this sector can also typically provide very competitive salaries and benefits packages. Naturally, as you gain experience and start to progress within this industry, you can expect to be rewarded financially. Indeed, the average annual salary for insurance jobs in the UK currently stands at £47,500. This is around £12,500 more than the UK average. 

How to start working in insurance?

Like any industry, there are a few well-trodden pathways into a career in insurance. Below we take a look at the three most common.

Complete training courses

Completing training courses offered by accredited institutions or professional bodies such as the Chartered Insurance Institute (CII) or the Institute of Risk Management (IRM) can be a great way to kickstart an insurance career. Qualifications such as the Certificate in Insurance – which can also be gained through an insurance based apprenticeship – tend to cover all essential topics such as insurance principles, regulations, and risk management practices. This not only prepares you for life in the industry, but also shows potential employers you have taken the time to start to learn the trade of your own accord, working to gain a recognised qualification. 

Enrol on an insurance practitioner apprenticeship

Touched upon above, an insurance based apprenticeship can be a great way to get into insurance. These courses, such as Simply Academy’s Insurance Practitioner Apprenticeship, allow you to combine practical experience with structured learning. This is to say, you gain a formal qualification while also working at an established insurance firm. Lasting between 12 and15 months, an insurance practitioner apprenticeship caters for individuals with a range of different educational backgrounds and career aspirations, giving them the opportunity to get their foot in the door. 

Higher education

Although not necessary, obtaining a higher education degree in a relevant field can also help your prospects of securing a role in the insurance industry. Qualification in subjects such as economics, business and management and business administration all provide solid foundations for a career in this sector. However, as a rule we would also recommend pursuing more specific training, such as a Certificate in Insurance or a Diploma in Insurance before applying for roles in this field. This adds to your degree and demonstrates to employers you are committed and ready for a career in insurance.