Insurance - Mihaylo College of Business and Economics

Mihaylo Career Services
SGMH 1409 • mihaylocareers@fullerton.edu • (657) 278-8738 • business.fullerton.edu/careerservices
Career Resource Guide: Finance – Insurance
For current list of career
In the simplest terms, insurance is the transfer of risk, from the insured to the
path advisors please visit:
insurer, in exchange for a premium. The insurance industry is big business.
Some 1,800 U.S. insurance companies offer personal and commercial product
lines including basic health/life and property/casualty protection as well as a
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long list of other coverage ranging from automobiles to mortgages to insur-
ance for insurance companies (known as reinsurance). These products protect
customers from losses resulting from illegal actions, medical needs, theft,
earthquakes and hurricanes, and a variety of other causes.
Covering policyholders' losses is only the beginning of what goes on
at insurance companies. For example, they mount huge marketing
campaigns to convince customers that they need protection in general
and the company's products in particular.
They also function as financiers, deriving a large part of their revenues
from investments. Insurance companies must maintain enormous
reserves of capital to back up potential claims obligations. They invest
those reserves in stocks, bonds, and real estate, within the United
States and overseas.
Source: https://www.wetfeet.com/articles/industry-overview-insurance overview-insurance
Sample Job Titles:
Entry-Level
� Actuary
� Insurance Agent
� Claims Adjustor
� Service Representative
� Loss Control Specialist
� Risk Manager
� Underwriting Assistant
� Call Center Associate
Mid-Level
� Insurance Business Manager
� Insurance Accounting Manager
� Commercial Lines Account Manger
� Project Manager – Insurance Operations
� Senior Actuary
Skills/Experiences Required:
� Quantitative and Analytical Skills
� Understanding of Basic Finance
� Sales Skills
Pinnacle
� Vice President of
Insurance Operations
� Customer Service and Relationship Management
� Strong Research Skills
Mihaylo Career Services
SGMH 1409 • mihaylocareers@fullerton.edu • (657) 278-8738 • business.fullerton.edu/careerservices
Career Resource Guide: Finance – Insurance
Starting Salaries/Trajectory:*
NACE 2012 average starting salary: $51,300
BLS 2011 average salary:
� $60,830 – Insurance Underwriter
� $47,450 – Insurance Sales Agent
� $59,320 – Claims Examiners, Property & Casualty Insurance
� $91,060 – Actuary
Professional Associations/Certifications:
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National Association of Professional Insurance Agents
International Association of Insurance Professionals
Association of Insurance Compliance Professionals
CSUF Center for Insurance Studies
*Note: Salaries are highly dependent on location, company type, and candidate experience/education. For the purposes of this guide, we are
providing average starting salaries as determined by the National Association of Colleges and Employers (NACE), overall average salaries as
determined by the U.S. Bureau of Labor Statistics (BLS), as well as supplemental information found from various industry-specific sources.
Industry Research and Tools:
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Job and Internship Search Sites:
careers-in-finance.com
investopedia.com/features/industryhandbook/insurance
financecareers.about.com/od/insurance/a/insurance.htm
CSUF Center for Insurance Studies
� greatinsurancejobs.com
� ultimateinsurancejobs.com
� indeed.com/q-Insurance-jobs.html
Sampling of Top Employers In This Field:
Source: 2012 OC Business Journal – Book of Lists
About this guide: This resource guide is intended to provide an introduction to the industry and relay a sampling of the resources
available to candidates. It is by no means comprehensive, nor intended to replace individual research based on specific job targets
and/or recommendations from an advisor.