Written by Loretta L. Wurters, vice president, media relations, Triple-I
Forget the stereotype of the boring door-to-door life insurance salesperson – aka Ned Ryerson from the movie hard day. Insurance isn’t just about sales – it’s a purpose-driven industry with endless opportunities to make a positive impact on people, businesses and communities.
The insurance industry employs more than 2.8 million people with an incredible range of skills and talents, from art historians to actuaries. data scientists for drone pilots; marketers to mergers and acquisitions professionals; And of course from insurance companies to claims professionals.
The annual February Insurance Careers Month celebration provides a reminder of the industry’s opportunities.
Insurance Career Month, first held in 2016, seeks to inspire young people to choose insurance as a career, share what makes the industry great to work in, and collaborate on the recruitment, nurturing and retention of emerging leaders.
“Insurance is the backbone of the global economy, providing security, recovery and sustainability,” said Triple-I CEO Sean Kevelighan. “Whether you are just starting out in the workforce or are considering advancing a career path, there is a wealth of opportunity across a wide range of endeavors.”
To raise awareness about insurance as a career path, Triple-I continues to partner with HBCU IMPACT Initiative, Inc. (IMPACT), a campaign aimed at recruiting students for black colleges and universities (HBCUs) in the insurance industry.
Lack of exposure to the insurance industry and professional networks are the biggest barriers for black professionals, according to a study by Marsh. That’s why the Black Insurance Industry Collective (BIIC), a nonprofit organization affiliated with the institutes, is focused on accelerating the advancement of African American insurance professionals. The goal of BIIC is to enable these professionals to expand their leadership development opportunities by emphasizing mentorship and nurturing while collaborating with like-minded organizations.
“We contributed to the formation of BIIC as part of our overarching Diversity, Equity and Inclusion initiative,” said Peter L. Miller, CPCU President and Executive Director of the Institutes. “We look forward to working with the Leadership Council at BIIC as they cultivate and maintain a culture of inclusion for all who work and are served by the insurance and risk management community.”
The Insurance Industry Charitable Foundation (IICF) has a talent hubTMIt is an online resource center created to help job seekers learn about opportunities in the insurance industry and for insurers, reinsurers, brokers and agents to access a new and diverse pool of talent.
“As baby boomers approach retirement, the insurance industry will need to fill jobs for a generation,” said Bill Ross, CEO of IICF. The goal of the IICF Talent HubTM is to introduce a new audience of non-traditional job seekers to the industry and the rewarding jobs and careers available.”
Talent development and the future of work will also be key themes at the IICF Inclusion in Insurance World Conference, June 13-15, 2023, in New York City.
Other organizations — such as RIMS, the Spencer Educational Foundation, and Gamma Iota Sigma — promote risk management, education, and insurance at the undergraduate and graduate levels.
In conjunction with Insurance Careers Month, the American Property Accident Insurance Association (APCIA) 5y The annual Emerging Leaders Conference, which will take place February 5-7 in Charleston, South Carolina, will give young industry professionals access to executive thought leadership, cross-functional networking opportunities, and an agenda focused on professional and personal development.
“The insurance industry faces the most competitive job market in decades, making talent retention and development a top priority,” said Margaret Tortorello, managing director of the Employment Insurance Movement, an industry initiative aimed at raising awareness about managing the risks of diverse occupational options. “The Insurance Jobs movement is designed to bring together and recognize the exceptional rising stars of our industry; an industry we are proud to be a part of.”
As the next generation of professionals embark on their careers, they will find it an exciting time to join the insurance industry – an industry of people who can drive change, innovate and solve problems. They will find that through the insurance profession they can contribute to meaningful work, making a difference in the world every single dayy.