10 Reasons Why an Insurance Career is Great for Millennials

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The following article originally appeared on benefitspro.com

The insurance industry is a great place to start — and grow — your career.

From underwriter to data scientist to claims adjuster, there are jobs for a variety of different skills, and these jobs need to be filled ASAP.

Due to the retirement of baby boomers and industry development, the insurance industry will be hiring 400,000 positions within the next three years, according to The Institutes, a risk and insurance professional development group.

Millennials are the future of insurance, and possess many of the qualities that industry recruiters are looking for, such as an affinity for teamwork, an entrepreneurial spirit and love for solving problems.

Now is an exciting time to work in insurance. If you don’t believe us, trust your peers: According to a 2016 study from insurance technology provider Vertafore, which polled 4,000 insurance professionals between the ages of 19 and 35, more than 80 percent of respondents say they plan to remain in the insurance industry for as long as possible.

Still not convinced? Discover 10 reasons why millennials love working for the insurance industry:

1. There’s a job for your skills.

The scope of the industry goes far beyond the roles of insurance agent and broker. For example, if you have a degree in social science or a background in nursing, you could make an ideal claims professional. Working as an adjuster, appraiser, examiner or investigator taps into these learned skills of communication, empathy and deductive reasoning.

Are you in engineering? You could transfer your creativity, problem-solving, design and scheduling proficiencies to work in loss control or as a risk manager in outside industries such as the public sector, retail, hospitality or gaming. There’s a place for a variety of skills and interests.

2. Insurance careers are sustainable.

Like death and taxes, insurance has a long history — dating all the way back to 1347 in Genoa, Italy — and its need is a sure thing. According to The Institutes, the insurance industry employs more than 2.3 million individuals in America — that’s 115 times the number of jobs provided by Google, Facebook, Apple, Twitter and Yahoo combined.

The industry also has a positive effect on the economy, contributing $450.3 billion to the nation’s GDP in 2014, according to the Insurance Information Institute. Just as someone can’t purchase a home without proof of insurance, business owners cannot build or obtain financing for a commercial building without it. And without financing, businesses can’t develop, create jobs or contribute to their communities.

3. Career advancement provides opportunities to learn.

Millennials can exercise their entrepreneurial attitudes in the insurance industry, especially in jobs that require creative thinking, problem-solving and a desire to help others.

At CNA, for example, there’s a commitment to ensuring your professional development, whether it’s through on-the-job learning, defined courses, self-study or educational reimbursement. We also believe that millennials can further professional growth by volunteering or sitting on the board of a favorite charity, because those learned leadership and communication skills carry over to your career advancement.

4. Diversity is welcome.

At 87 million strong, millennials are the largest generational group in America, and also the most diverse. Insurance roles entail communicating and collaborating with people from all different backgrounds, and this experience will prove invaluable as the insurance industry expands to writing policies in emerging markets.

5. Teamwork is unavoidable.

Millennials recognize that working together is more efficient than struggling alone. In the insurance industry, successful collaboration identifies business opportunities and solves problems. No matter your role, you will work closely with a range of professionals — inside and outside of your own company.

See the remaining 5  Reasons why an insurance career is great for millennials

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