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Insurance and Pensions School Leaver Jobs - Careers Guide

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If you think insurance and pensions is all about maths, you couldn't be more wrong – this is a risky business that deals with probability, smart investing and stellar sales skills.

Have you ever had anything stolen, like your wallet or mobile? It's a huge inconvenience as you sort out cancelling phone numbers and credit cards afterwards to make sure you don't end up paying for someone else to make calls or buy video games.

Having insurance makes it that little bit easier to sort out the mess, as you could get money back into your account or get some cash towards a new mobile. People who work in the insurance industry set up and sell policies that people pay into so when disasters like this happen, they won't be too out of pocket.

Closely related to this is managing pensions, which people pay into as they work, then live off from after they retire. You'll use the same principles of investing the money that people pay in so the amount grows.

What’s it all about?TOP ^

You can keep your knowledge of insurance broad, or specialise in certain areas such as home, life, health or business. While you need to have a head for numbers in whichever part of insurance and pensions you work in, you can focus your job to deal more with the clients, or more with the risk assessment side.

Many people enter a career in insurance and pensions as a technician. This is an administrative role that supports a broker (advising customers and checking forms), underwriter (getting insurance quotes) or claims processor (gathering the bits and pieces need to pay a client).

You'll usually work 9-5 unless your job deals with a few major clients, and you may need to meet them after work or arrange informal gatherings. If you're talented at your job, your company will want to keep you, which will give you greater flexibility when it comes to holidays, training or pay rises. In order to show your talent, you'll need to prove that you can reach the goals set for your job – over-achieving is almost always a good thing. And dressing smartly is a must.

What will I earn? TOP ^

A starting salary in this industry can be anywhere from £15,000-£25,000, depending on the company and type of job. Managers and senior staff will easily earn over £40,000, with some making close to £100,000.

Where can I work? TOP ^

Insurance and pensions employees work in both the private and public sector. In insurance, the main employers are large insurance companies, brokers, risk management companies and life assurance organisations.

Pensions workers can work in public sector pension providers, banks, building societies and pension consultancies, among others.  

What skills do I need for insurance and pensions? TOP ^

While you need to be analytical in your approach to financial data, you need to also be able to make confident, experienced decisions under pressure. Also, your clients won't necessarily have the same financial knowledge that you do, so you need to be able to explain the complicated terms in a clear way.

School leaver jobs in insurance and pensions require you to have a great attention to detail and the ability to analyse data efficiently. Many roles are customer facing, so communication skills and the ability to sell your products are also important. Some of the skills you will have to demonstrate include:

What entry level jobs can I do in insurance and pensions? TOP ^

It is possible to enter the insurance and pensions industry as a school leaver without qualifications. You can work as an assistant or in administration, before working your way up to a managerial position.

Some entry level insurance and pensions jobs include:

  • Insurance broker
  • Pension scheme assistant
  • Insurance claims inspector
  • Loss adjustor
  • Insurance account manager
Browse all Insurance and Pensions jobs for this guide
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