The Complete Guide to

Insurance as a Career
What Kind of Insurance Jobs Are There?​
• Insurance Agent ​
• An insurance agent is an industry professional who works as a
representative for insurance companies. They help their clients
select the right insurance to buy but represent the insurance
company throughout the process. ​
• There are two types of insurance agents: ​
• Captive agents typically represent one insurance company. For
example, State Farm sells its policies through captive agents. ​
• Independent agents or insurance sales agents can represent
multiple carriers rather than a single company.
• Insurance Broker
Insurance brokers work directly with insurance buyers and are not
tied in any way to insurance companies. ​
They utilize their knowledge, expertise, and experience to help
their clients assess their unique insurance needs and help find the
coverage that’s best suited for them.
• Underwriter​
Underwriters are professionals who create insurance policies. They
decide which people or things the insurance company should insure and
which they should not. ​
An underwriter also decides the amount of money the insurance
company should charge for insuring something or someone. ​
In order to underwrite the most effective coverage, they use complex risk
management techniques and dynamic proprietary algorithms.
• Customer Service Representative (CSR)
• Customer service representatives, or CSRs, talk to clients after
their property is damaged or stolen. They provide the initial
information and answer questions from people who want to
know what their insurance will and will not cover.​

• They are mediators between the clients and the insurance

company and help people learn about new policies, make
adjustments to their policies and collect details from the
policyholders after a loss. ​
• Adjuster​
An insurance adjuster works in the field and investigates their clients’
property after it has been damaged. ​
They assess how the property was damaged and determine whether or
not the insurance company will cover the damage.​
They are tasked with the important responsibility of determining how
much the damage to the person’s property will cost to repair. There are
two types of adjusters: ​
• Staff adjusters are salaried employees of an insurance company.​
• Independent claims adjusters are independent contractors that work
for Adjusting Firms.
• Regulator​
The role of an insurance regulator is to oversee and supervise the business
practices of the insurance industry in a certain state. ​

They have the power to investigate cases, carry out penalties, and provide
licenses to insurance companies. They can also revoke licenses and permits. ​

Regulators play a key role in protecting the insured and the insurers. If a
company faces financial hardships, it compromises its ability to cover its
clients and policyholders. Regulators monitor and preserve the financial
solvency of insurance companies. ​

A good regulator can provide legal services and applicable business solutions
on a wide range of administrative, corporate, insurance, and transactional
issues.
• Actuary​
An actuary is an insurance professional who helps insurance providers
estimate the amount of money to charge for insurance. ​
Actuaries use mathematical and statistical models to create and set prices
of insurance plans based on how likely they will be to have to pay out on
the claims. ​
Insurance companies use this information in designing insurance policies.
Actuaries base their analysis on various factors like the lifestyle of groups
or people looking to be insured, their location, state of health, and other
related factors.
How do Insurance Agents Make Money?​
• The rate of commission that captive agents make is reliant on whether
they are employees of their parent company or independent
contractors. ​
• Captive agents who are regarded as employees are provided salaries and
benefits by the company they work for. ​
• Captive agents who are classified as independent contractors are
provided with payment based on sales and commissions. ​
• Independent agents are paid solely on a commission basis. ​
• They are compensated by insurance companies every time they sell their
insurance policy and when their clients renew their policy. ​
• Independent agents can sell from a wider array of carriers, so they have
the potential to earn higher rates.
Some benefits of choosing an insurance
career​

• Limitless Earning Potential​

There is no denying that building up a good network of clients and a book
of business will take time and effort. However, an agent with limited
experience can achieve financial success relatively quickly. ​
• Unprecedented Flexibility​
Whether you’re an independent insurance agent or a captive one, you can
generally pick when you want to set your appointment times. ​
• Never a Dull Moment​
Besides the regular work, for the most part, insurance agents need to
constantly meet new clients, find them the right insurance policy, and
close sales. ​
They also need to think about growing their business. This includes
marketing and advertising, providing prompt responses to emails and
calls, and establishing a good social media presence.
Let us help you start off your insurance career and be the insurance professional we
know you’re capable of becoming!