Insurance is a specialized field of the economy. Insurance can be defined as, some one agreeing to make good the loss in the event of happening of a certain agreed event. Insurance companies are engaged in the business of making good the agreed loss.
For this activity they collect a small sum of money known as premium. There are many branches in Insurance like, Life Insurance, Marine Insurance, Home Insurance, and Fire Insurance. To take up a career in Insurance, you have to decide about the branch of Insurance in which you want to pursue your career. Having decided the branch of Insurance, find out for yourself whether you have the right skills to take up the Insurance career. As a new entrant you can start your career in the Insurance sector by becoming an agent of an Insurance company. To become an agent of the Insurance Company you need not be university graduate. The company will train you before sending you to the field.
As an agent of the Insurance Company you will be selling the various Insurance products of the company. For this you must know the products of Insurance, the salient features of the product and the premium required to be collected. You must have lot of contacts in the area where you choose to operate as an agent. You will be acting as a bridge between your company and the customers. You are representing your company by your actions in the society. You must be a person of high integrity and morals. The customer relations are of paramount importance. You have to be in constant touch with your customers and respond to their queries and must be in a position to reply to their questions satisfactorily. You must update your knowledge regularly. In the event of any loss, you will be the first person the customers think of. As an agent you will be in the field and can be called as the front office of the Insurance Company. You will not be having any fixed time schedule for your work. You must liaison with the various departments to give prompt and efficient service to your customers. You must maintain a data base of your customers and give them prompt reminders to renew their policies taken from you. If your customer has taken any policy, linked to mutual funds, you must advice your customers about the market variations on a daily basis.
The career can also be started in the back office. You can join as a clerk or as an officer. You are required to possess a university degree to join this category. The periodical trainings, both in the class room as well as on the job will equip you with the necessary knowledge required to discharge your duties. You will be redressing the grievances of the policy holders on behalf of the company. It is a respectable career and you can create lot of good will in the society.
