The Risk Management & Insurance Industry

Our industry welcomes your skills and experience. In fact, your leadership, character, and initiative will improve the Risk Management and Insurance Industry. It is a wonderful field of opportunities while helping others with some of their most important needs.

The first step is help you to uncover what you truly want out of your career. My Career Plan is a savable PDF file to evaluate potential positions using the nine career comparison points in the plan. Using a series of prompts, the My Career Plan will help you find out what matters most to you for a rewarding career. After you complete the insightful exercises you will have a section devoted to the actions you intend to take to develop a rewarding new career in the risk management and insurance industry.

Risk Management is the process of managing the uncertainty of exposures that affect an individual’s or organization’s assets and financial statements. Insurance is one tool for helping to transfer and reduce financial risk.

Insurance is a tool for transferring financial risks from one party to another by means of a formal agreement. In exchange for regular premium payments, insurance companies agree to assume certain financial risks and to pay clients for losses for those risks, according to the terms defined in an insurance policy.

Risk management and insurance are linked because proper risk management practices will make the client safer and reduce their “loss rates,” which will ultimately lower their insurance premiums and likely make everyone safer.

The industry offers dozens of career paths that might surprise you. Based on your personality and career goals, the variety of positions include administrative, service, sales, technical/specialist, management, and even ownership. Hear about the variety available through these Industry Stories.

How Big is the Industry?

More Than

According to the U.S. Labor Department, there are currently more than 2,379,400 people working in the industry.

Qualified people are needed now more than ever. As the Baby Boomers retire, thousands of great careers call for candidates who are ready for the challenge. In fact, Pew Research Center reports that over the next 19 years there will be 10,000 Baby Boomers that reach retirement age each day. With more and more retirees each year the industry is continually looking for professionals to fill the gap. In our industry, there will be 184,400 jobs available between now and 2020. This projection includes 90,200 new jobs and 94,200 replacement jobs.

The U.S. Bureau of Labor Statistics show industry employment increased by 47,300 in one year (April 2013-May 2014). Your talents can make a genuine contribution with just the right training. Click here to explore industry opportunities in greater depth.