Why Insurance Jobs Provide Job Security

July 29, 2023 in

Starting a new job position can be stressful and somewhat scary. You don’t always know what to expect, how you’ll be treated, and what your colleagues and employers will be like. Most people crave a career path that promises a bright future and the opportunity to develop their skills on the job. If that’s you, you’ve landed in the right place. In this article we’ll explore why insurance jobs provide job security and how Afni can help you.

It’s only normal for a company to experience some external impacts, and many employees worry that it’ll affect their job position. With all that’s happening in today’s age, this glooming anxiety affects many hard-working individuals. Some factors such as the new technology, globalization, recession, and outsourcing contribute to the decrease in job security and make it harder to find a stable job.


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Why Choose the Insurance Industry

The insurance industry is deeply rooted in risk management. Since the dawn of humanity, people have been exposed to life-threatening risks. That’s why many cultures began crafting plans to help individuals out when dealing with an incident or other forms of unpredicted damage.

Even though many refrain from applying to the insurance industry due to a lack of knowledge about the field, we assure you that the insurance industry is diverse, vast, and exciting, and its popularity is growing by the minute. Besides its growing popularity, Afni offers many job opportunities, from accounts payable specialist to network engineer.

Brief history and evolution of the insurance industry

The first traces of an insurance policy date back to ancient Babylonian times. It stated that a man in debt doesn’t have to pay off his loan if he is affected by a catastrophe. In Medieval times, insurance was often provided through guilds. This was mostly seen for master craftsmen who paid the guild to train apprentices.

After the Industrial Revolution, insurance companies began to thrive in Europe. Around the 1750s, these modern practices spread to America. As time passed, the industry experienced many changes and refinements to get where it is today.

In today’s modern era, insurance experts are able to track and analyze specific risk factors. Additionally, they can calculate certain outcomes in detail. People who invest in insurance, known as insured or policyholders, will receive a payment if an unforeseen future event occurs.

Types of Insurance

As insurance practices changed over time, different options are available in today's age. The most common types of insurance people seek are:

  • Health - insurance that fully or partially covers a person’s medical expenses. These costs can be due to accidents, disabilities, dismemberment, and even accidental death.
  • Life - insurance that secures a specific sum of money paid to a designated beneficiary upon someone’s death. It may even cover funeral costs and be applied in case of terminal or critical illness.
  • Vehicle - insurance against physical damage or injury involving motor vehicles. So you can insure cars, motorcycles, trucks, and other moving vehicles. It covers the repair costs caused by traffic collisions and other vehicle-related incidents.
  • Property - insurance that covers the costs of property-related risks. Such are fire damage, theft, and weather damage. You may also find specific forms for a different cause, like fire, earthquake, flood, or boiler insurance.


Source: shutterstock.com/ Photo Contributor: ITisha

Why Insurance Jobs Provide Job Security

By understanding the basic concept of insurance, many people seek job security by choosing this career path. Don't forget that many industries share the same risks requiring insurance security. But this sector differs based on several elements. Some of them are:

  • Economic resilience
  • Ever-present need
  • Diverse roles
  • Continuous learning and skill development
  • Impact of technological advancements

Economic resilience

With all the trying times our society has been subjected to, the insurance industry has showcased exquisite economic resilience. Since it’s viewed as more of a necessity than a luxury, it’s only logical that people seek security when an issue arises. Thus, despite the hardship of these past years, more people than ever have sought insurance as a form of comfort.

Take, for example, the Great Fire of London in 1666. During this unfortunate event, over 13,000 buildings were destroyed. When this devastating occurrence happened, the first property insurance policies came into being since much of London needed to be rebuilt, but people at the time were in need of money because of the Great Plague that took London by storm just a year before the fire.

The goal of the insurance companies was to mitigate the burden of a single individual. So, having insurance brings peace of mind and lessens worry about big disasters.

It's safe to say that insurance acts as a shock absorber. Additionally, it provides stability even during low growth and high inflation. You can take a look at statistics about employment in insurance from 2013 to 2023 as an example. Within the metrics, you’ll notice a steady and consistent rise without many setbacks.

Ever-present need

The second characteristic that ensures job security is the ever-present need for insurance. Since the goal is to analyze, manage, and reduce risks, it benefits individuals and companies. It acts as a risk-mitigation tool against accidents that may cause financial hardships.

The need for insurance could be seen even in the devastating effects of the recent pandemic. Many single providers invested in life insurance as a safety measure. This way, they ensured that their loved ones were financially cared for even after their passing.

As for companies, investing in insurance can lead to several benefits. Such are:

  • Increased productivity: by worrying less about losses, business owners can focus more on the company itself.
  • Economic growth: these practices allow for loss prevention and financial security. Furthermore, with the mobilization of domestic investments, it impacts the overall economy.
  • Credit improvement: some companies find themselves in a situation where they need a loan. With a guaranteed reimbursement at death, you're more likely to get one. An insurance policy can also be used as collateral when applying for it.
  • Business continuity: this is most common in related businesses. Having insurance allows the company to continue functioning even if a partner passes.

Diverse roles

Insurance companies also have a number of diverse roles available. Depending on your interests and qualifications, this industry offers many positions. Some of the fields you may be interested in are the following:

  • Engineering and data science
  • Human resources
  • Public relations
  • Financial analysts
  • Claims adjusters
  • Insurance underwriters

Since the insurance sector offers many opportunities, it’s a great way to showcase your skills and knowledge. This also leads to the next element of job security - the opportunity for continuous learning and skill development.

Continuous learning and skill development

The best way to land the job position you want is by showcasing the unique set of skills you’ve gathered from past work and education experiences. Choosing the insurance industry as a career path allows you to further develop your skills in a specific area. Since many diverse roles are available, it offers opportunities for people with different educational backgrounds to interview and apply for one of the positions.

Some of the benefits of this type of training are:

  • Improved efficiency - with frequent training, you’ll get better and faster at your tasks. This will further improve your efficiency and productivity. Furthermore, it’ll help you master different skills and prepare you to face any issue head-on.
  • Keeping ahead of the competition - acquiring knowledge in a specific field will make you stand out. You’ll be able to prove your worth and devoted to your career.
  • Increased credibility - mastering the skills required in a specific field will improve your credibility. Becoming an expert on a subject will easily showcase your expertise and experience. This can lead to more frequent promotions or better job offers.


Source: shutterstock.com / Photo Contributor: 3rdtimeluckystudio

Impact of technological advancements

Lastly, don’t forget that with the rapid advancements in technology, it takes effort to stay on top of the game. With the latest breakthrough in AI software, many people feel as if their job positions are at risk. Thanks to technological breakthroughs, the insurance industry started hiring many people aside from the insurance field to help cope with every new technological advancement.

Now besides applying as an accountant or in a sales-related field, you can apply as a software developer or a customer service representative, as almost every insurance company requires customer service. But regarding the insurance industry, these new technologies can be used to your advantage.

Some of the main technological advancements that impact this sector are:

  • Assessing damage via drones
  • More accessible customer service
  • Automating claim forms with machine learning
  • Providing faster claim estimates with AI

Furthermore, keeping up with the latest trends will give you further experience in your branch. It’s undeniable that technology will continue to improve. So instead of fearing these advancements, you can always find a way for them to benefit you.

Find The Best Insurance Jobs With Afni

The insurance industry provides excellent job security and is a critical component to our livelihood. For many, job hunting in this space can be daunting. But with companies like Afni, finding your next job in the insurance industry is easy and fun.

As a global business process outsourcing company, Afni is known for its economic resilience, industry thought leadership, and diverse employment opportunities.

Working with Afni gives you access to industry leading insurance knowledge and skills while advancing your career the way you want. With more than 10,000 people from different backgrounds around the globe, Afni provides candidates with flexible onsite and remote insurance job opportunities, creating exceptional experiences that bring everyone together. Learn more about insurance jobs in your city or remote options available today.

About the Author

Samantha is the Recruitment Marketing Manager for Afni and brings a wealth of knowledge and tips for job seekers. She holds a bachelor's degree in public relations and marketing from Mount Saint Vincent University as well as a masters degree in digital marketing and advertising from Liberty University.