By Paul Hurst
The insurance industry is a great place for recent graduates to look for a job
Many moons ago (264 to be exact), I popped out of the protective bubble of SFU and crashed headlong into the brutal reality of the work world. Within seven months of graduating with a psychology degree, I was an ICBC claims adjuster. It was very much a sink or swim situation, as there was no training, and I was thrown into combat immediately. Nineteen years later I resigned to seek out a new career, as burnout had set in.
I’m very happy to be back in the protective womb of post-secondary education, but the insurance industry in Canada is desperately crying for skilled workers to fill positions like the one I left. Besides working for large corporations such as ICBC, there are many smaller organizations that are now, or will shortly be, looking for staff at all levels.
Insurance sales can be very lucrative. For a short time I worked as a marketer, supporting a sales producer. Adjusters often work for small firms. With some experience under your belt working for an adjusting firm, you can go independent. Being self-employed has some real perks: you get big tax writeoffs, and being your own boss means you can tell yourself to go fuck yourself and you likely won’t fire yourself. Underwriting involves actuarial skills, so if you are good at math, or have a business or accounting degree, I’d strongly suggest talking to firms that handle this.
As more people retire, the opportunities for advancement will increase. The largest shortfall is apparently going to be in the managerial ranks, but obviously other ranks will need staff too.
The most recent Canada census results show that about 23 per cent of all Canadians have a university degree. Unfortunately, a B.A. is a bit like the new high school diploma. It’s a minimum requirement for quite a few jobs, and obviously it makes it more competitive for everyone. So be glad you have one, regardless of your major or your GPA. Most employers, as far as I’m aware, don’t look at these. I worked with adjusters who had marine biology and math degrees.
Once you get a job with a company in the insurance industry, generally speaking, they will (or should) pay for further specialized education. School never stops. The primary qualification in Canada is called the CIP, or Certified Insurance Professional. You need to complete 10 courses in the three main streams: Adjusting, Underwriting, and Broker. Normally you focus on one of these three. You can also take classes at BCIT, which offers a similar qualification. Having your CIP is pretty much mandatory if you plan to have a long career in insurance. If you are struggling to find work, and think you might want to go into insurance, then consider paying for at least one CIP class to show potential employers you have initiative.
Developing several long-term plans (Plan A, Plan B, Plan C, and my primary plan: Plan 9 From Outer Space) is very important. If you don’t have a rough idea of where you might want to go, you ain’t gonna git there, nohow.
