● By Mel Sim
What you need to know about a future in insurance
Unless you’re a math wizard aspiring to be part of Malaysia’s leading insurers, chances are insurance may not be your preferred career prospect. After all, isn’t insurance something we put our money in but never really see the use of?
It can be hard to appreciate the value insurance has in our lives (trust us, we get it), but if there’s anything to be learned in the wake of COVID-19, it’s that tragedy can strike anyone and at any time. As we continue to face risks in our daily lives, insurance can help protect us from unfortunate events and give us the peace of mind we need to weather through tough times.
This noble line of work is what makes insurers an essential financial service, and even more so during a pandemonium. Here are five reasons to work in Insurance:
1. It is a relatively stable industry
Insurance is deemed an essential financial service by the government of Malaysia. During the Movement Control Order, insurers continued to serve their policyholders by providing the necessary support and assistance to customers who were affected by the economic brunt of COVID-19. Due to the nature of the business, insurance is a relatively stable industry to work in and offers jobseekers stability, challenges and rewards.
2. It doesn’t matter what background you’re from
Majored in engineering but interested in data analytics? Great! Graduated with a degree in psychology but enjoy creative writing? Even better! Most insurers today actively recruit graduates from various backgrounds and disciplines to diversify their workforce and create a more creative and innovative work culture. Regardless of your background, everyone has a place in insurance. Just be sure to study the job descriptions before applying for a role you find would suit you!
3. Insurance offers different career pathways
You can choose between two different career pathways in insurance, depending on which suits your interests and abilities.
The entrepreneurship pathway involves becoming a ‘life planning advisor’, where people skills are required to acquire new customers for the business. You get to meet people from all walks of life to advise them on financial planning, and much like the modern entrepreneur, you have the freedom to control how, when and where you work.
The corporate pathway entails the management of the organisation, where you can explore roles in various areas such as Digital Transformation, Risk Management, IT, Human Capital, Finance and so much more.
4. Insurance companies are employers of choices
Over the years, leading insurers in Malaysia have consistently climbed their way up to the top 100 list of preferred graduate employers. With the new generation of workforce making their way into the job market, insurers are gradually transforming their recruitment and retention efforts to attract and retain quality talent, offering flexible working arrangements and structured career frameworks to empower their employees to realise their potential.
5. Insurance is at the forefront of change
Let’s face it, there is always something new to worry about! As new risks continue to emerge, insurers are also continuously evolving, from providing new products such as cybersecurity insurance to digitalising customer interaction and touchpoints. As a result, new functions such as digital affinity and digital transformation have also emerged, and insurers are at the forefront of innovation to ensure the right products and services are being offered to customers to fit their changing demands and needs.
At its core, insurance remains a “people first” industry, with the noble aim to make life great for their customers and provide peace of mind during times of uncertainty.
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