Insurance - Eligibility

Eligibility

A few jobs in the insurance industry, especially in office and administrative support occupations, require no more than a high school diploma. However, employers prefer to hire workers with a college education for most jobs, including sales, managerial, and professional jobs.

Courses in word processing and business math are assets, and the ability to operate computers is essential. On-the-job training usually is provided for clerical jobs such as customer service representatives. Several years of experience and training can help beginners advance to higher paying positions. Office and administrative support workers may also advance to higher paying claims adjusting positions and entry-level underwriting jobs. A master's degree, particularly in business administration or a related field, is an asset for advancement into higher levels of management.

For beginning underwriting jobs, many insurance companies prefer college graduates who have a degree in business administration or a related field. As an underwriter's career develops, it becomes beneficial to earn one of the voluntary professional certifications in underwriting. The American Institute for Chartered Property-Casualty Underwriters (AICPU) offers the CPCU program, which includes courses covering a broad range of insurance, risk management, and general business topics involving both personal and commercial loss exposures. Earning the CPCU designation requires passing 8 exams, meeting a requirement of at least three years of insurance experience, and abiding by the AICPU's and CPCU Society's code of professional ethics. In conjunction with the Insurance Institute of America, the AICPCU offers 22 insurance-related educational programs, including claims, underwriting, risk management, and reinsurance.

In almost every State, those working as a claims examiner or adjuster must obtain a license. Licensing requirements for these workers vary by State and can include prelicensing education or passing a licensing exam. Licensing requirements to become an insurance investigator may vary among States. All insurance sales agents must obtain licenses in the States in which they plan to sell insurance. In most States, licenses are issued only to applicants who complete specified courses and pass written examinations covering insurance fundamentals and State insurance laws. Insurance sales agents wishing to sell securities and other financial products must meet State licensing requirements in these areas. For actuarial jobs, companies prefer candidates to have degrees in actuarial science, mathematics, or statistics. Actuaries must pass a series of national examinations to become fully qualified.

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