4 Common Myths About a Career in Insurance Debunked
What comes to mind when you see that word? Do you envision a gray suit? Or picture someone making cold calls or traveling door-to-door to gain sales?
We get it. The insurance industry has been around a long time, and things that have been around a long time may seem, well, boring.
But a career in the insurance industry is anything but boring.
A career in insurance is exciting, can offer variety, challenges, and rewards, and can give you the chance to help others. Below, we offer four common myths and the associated facts about a career in insurance to help you learn a little more about what those opportunities look like today.
But you can still wear a gray suit if you'd like.
1. MYTH: Insurance is all about sales.
FACT: Sales is an important function in any insurance business, but there are so many other departments that make up a successful company and there are plenty of roles to suit a variety of skills and talents. Career options in insurance include accounting, marketing and communications, IT, systems engineering, web design, and more! Interested in a career in insurance sales? It's much more than phone calls. Sales representatives for Ohio Insurance Institute (OII) member, GEICO, represent one of America's most recognized brands. Through their roles, sales representatives:
- Attend industry-leading, paid sales training within either the Auto or Property insurance divisions
- Become licensed insurance sales professionals and receive inbound calls from potential policyholders
- Advise buyers on the insurance products they may want or need, state insurance requirements and coverage limits
- Prepare personalized insurance quotes, overcome objections, and close sales
- Receive coaching and feedback to help further develop their sales skills
- Qualify for monthly bonuses based on meeting sales goals
- Receive raises and promotions based on performance
Learn more about careers in insurance, and the careers pathways to consider to get the job you want here.
2. MYTH: Insurance isn’t a career that allows me to help people.
FACT: With a career in insurance, you can help people restore what’s most important to them. A claims career gives you the chance to help people who have been through a stressful situation, like a car crash or a powerful storm. OII member, Nationwide, has a claims team that travels to major disaster-affected areas to help people on-site. From handing out bottled water to assessing storm damage, their associates pitch in where needed so individuals can begin rebuilding their lives.
3. MYTH: Insurance is boring.
FACT: Did you know that by 2020, the Ohio-based insurance industry will need to fill approximately 26,000 jobs? And with technology advancements, the insurance-industry has a ton of exciting jobs including roles focused on cyber risk and data protection. Even traditional roles such as loss adjusters work with different customers with different scenarios, making every day anything but boring.
4. MYTH: I won’t make enough money working in insurance.
FACT: The average annual salary for an Ohioian working in insurance in 2015 was $71,806 – that’s 54% higher than Ohio’s average private sector annual salary of $46,582. And with 26,000 insurance jobs needing to be filled by 2020, you won’t have to worry about job stability in the insurance industry.
Interested in learning more about a specific career? Check out our list of job professions here.
Still deciding which career is right for you? Take our career survey to learn which opportunities align best with your interests and skills!