Jobs and Careers Summer 2021 - 226

claims, or you may work behind the scenes ensuring clientfacing
colleagues make the right decisions. Remember,
though, that just because you start your career in one role, it
doesn't mean you have to stay in that specialism forever. You
can enjoy many different careers within the same sector.
Insurance companies are looking for people with a certain set
of skills rather than specific knowledge, so any degree could see
you making your way in the profession. After university, you can
continue to study to obtain the Chartered Insurance Institute's
advanced diploma in insurance (ACII). This is recognised
around the world and will take three years to complete, less if
you graduated in a business, finance or a law-related subject.
As a graduate you'll probably start on a salary of around
£29,000, depending on how big the company is and where it's
located. Once you've demonstrated your worth and completed
your training, that figure can more than double, and those at
the top of the sector will earn a six-figure salary, if not seven.
Bear in mind, too, that many large companies have offices all
over the world, so if you fancy relocating - to Australia, Asia, Africa
or the Americas - there may be plenty of opportunities to do so.
INSURANCE BROKER
Brokers use their knowledge of the insurance market to find the
best level of cover at the best price. You'll help clients identify their
individual and/or business risks to help them decide what to insure.
You may start as an insurance technician, junior account handler
or trainee broker and work your way up. And with experience,
you could progress into management or move into other types of
insurance work, such as loss adjusting, underwriting or compliance.
What skills and qualifications do I need? To get taken on, you'll
usually need GCSEs at grades 9 to 4 (A* to C), including English
and maths, and A-levels. Other qualifications and training can be
obtained through graduate training schemes or apprenticeships.
226 /// JOBS & CAREERS /// jobsandcareersmag.com
How much can I earn? Junior brokers earn around £20,000 to
£24,000, but as experience grows so does the salary - up to as much
as £80,000. Earnings could include commissions and bonuses.
UNDERWRITER
Insurance underwriters decide whether to insure a person or
company, and set out the details of policies. They work closely with
actuaries, risk and claims managers and brokers, ensuring a balance
between attracting and retaining customers through competitive
premiums and being able to cover potential losses. Day-to-day tasks
may include gathering background information, analysing statistics,
assessing risk and calculating the price of insurance premiums.
What skills and qualifications do I need? There are no set
qualifications, but a degree in business, maths or economics will
help when joining a graduate training scheme. Apprenticeships
are also available. You'll need maths and statistics skills, and the
ability to analyse complex information and negotiate.
How much can I earn? Trainees on graduate schemes often start
on salaries between £25,000 and £30,000. Once you're trained,
they can reach £100,000. Bonuses for personal or company
performance are often included.
INSURANCE RISK SURVEYOR
Risk surveyors assess the potential financial risk posed by offering
insurance cover for items or sites, and provide underwriters with
information about reducing risk or whether cover should be
offered. Responsibilities include visiting sites, carrying out detailed
surveys, writing reports, advising and making recommendations.
What skills and qualifications do I need? You'll usually need
a degree-level qualification in management, business studies,
economics, engineering or similar, plus work experience in
insurance. You will need to be skilled in diplomacy, negotiation,
time management and problem-solving.
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Jobs and Careers Summer 2021

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