The Aspire Guide - Flipbook - Page 43
Insurance
Insurance is a wide sector within Financial Services that consists of offering risk management
in the form of insurance contracts, which are a guaranteed protection and payment for an
uncertain future event, in return for a fee on the part of the insured/policyholder. Within
an insurance firm there are many different roles available including actuarial, accountancy,
brokerage, claims management, finance, HR, underwriting, legal, marketing, procurement,
sales & distribution, risk, IT.
The actuarial division assesses and manages the risks of any financial investments, insurance policies,
and other activities the firm might pursue. The accountancy division measures, processes, and manages
the financial activities of the firm. The underwriting division involves evaluating the risk of insuring an
item/individual to determine its profitability for the insurance company and then setting a price and
insurance premium to be charged in exchange for the risk. The risk division ensures the firm has the
appropriate frameworks to ensure maximum profitability and safety for the firm, as well as ensuring the
firm is upholding legal responsibilities.
What they’re looking for:
Graduates with an affinity for numeracy and STEM-based subjects, especially those with strong
analytical skills and/or with a degree in any of the sciences, finance, economics, maths or similar. Actuarial,
underwriting, and general insurance careers can be accessed through some apprenticeships.
Salary expectations:
Typical graduate salary: £20,000-£30,000
Potential salary (after five years experience): £25,000-£50,000
Top earners (10-15 years experience): £50,000-£100,000+
Considering a
career in law?
Quality work, leading clients and an environment
where you’re given all the early responsibility you
can handle. If you’d like to be one of the handful
of trainee solicitors we take on each year, get in
touch today!
training.bristows.com
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