An Insurer essentially takes on risk on behalf of companies, governments and individuals. It provides the insured party with a contract (or policy) agreeing to cover a specific risk and defines how much it would pay the policy holder in the event of a claim. In return for this cover, the policy holder pays the Insurer a premium.
The Insurer's prime objective is to ensure they make a profit - they make money in two ways - firstly, by ensuring that premiums received exceed the claims paid out and secondly, by investing the premiums they receive and making a return on their investments.
There are approximately 400 insurance companies (or Insurers) in the UK offering products such as motor insurance, life insurance, home insurance and personal pensions. These Insurers employ a staggering 350,000 people which equates to almost a third of total employees within financial services. There are many different types of jobs within all areas of insurance such as:
Actuarial.
Risk Management.
Account Management.
Loss Adjusting.
Lloyd's.
Reinsurance.
Underwriting.
Broking.
Do you work for an Insurer? Would you like to contribute to our "Day in the Life of..." series? Email us at info@topfinancialjobs.co.uk for more details.
