You may think that horoscopes are pointless, and that no one can predict the future, but you’d be wrong, in fact there's an insurance job that does exactly that.
If you’ve got some serious mathematical skills and want to put them to good use, you could be predicting the future (and taken seriously) before you know it in an insurance consultant job.
So, what will I actually be doing?
Insurance and the general financial market can be a fickle thing, so sometimes financial organisations and even the government need a little help in predicting where it’s going to go next, and that’s where insurance consultants come in.
Using maths skills and the results of in-depth research, you’ll be making long-term financial predictions to solve financial or risk issues, and helping companies plan for the future by advising them on their next steps. Who knew that maths and statistics could be so important?
As well as assessing and forecasting the future, insurance consultants also pitch suitable insurance options for companies. Types of insurance you can offer include:
- General insurance
- HR management
- Risk management Risk management
- Corporate recovery
- Mergers and acquisitions
- Financing projects
It helps to be a tech geek at heart in this job, as you’ll be liaising with IT professionals and helping to select the right IT software to manage all the important data (that you’ll also use). Expect your daily duties to also include:
- Writing detailed reports (paperwork really is in every job)
- Researching current developments in business and finance
- Building and maintain working relationships with companies
- Visiting with a range of clients and working environments
- Helping with marketing programs (when required)
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The nitty gritty
What the client wants, the client gets, so your working hours will revolve around them too. This will normally be within regular office hours, but expect to work evenings and the occasional weekend too.
Because the financial industry is so vast, it would be virtually impossible to be an expert in them all, so it’s likely you’ll be working in a specialist consultancy, but still providing a range of services.
Money, money, money
If you’ve got the qualifications, employers will have the money for you. With experience and plenty of studying, you can expect to earn between £30,000 and £50,000.
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The good points...
Giving advice that can save companies tons on money can be oddly satisfying, and a job like this where you genuinely help people (and large companies) can be hard to come by.
...and the bad
Companies rely heavily on your predictions and advice, so get the maths wrong and you could be in serious trouble with the boss…
Is there study involved?
Without previous experience in insurance, you might struggle in the job, as employers are often on the look-out for professional insurance qualifications such as the Chartered Insurance Institute (CII) Diploma and Advanced Diploma in Insurance.
Just left university and want to become a consultant? Some large companies run graduate training schemes for newbies, but you’ll still need your degree to be in something relevant, such as:
- Business studies
- Building surveying
- Risk management
OK, I'm interested... But is it really the job for me?
As well as brain that doesn’t surrender under complicated maths problems and the ability to deal with statistics, you’ll also need to posses the ability to explain these complex financial problems in a simple manner for people that won’t have a clue what you’re on about.
You’ll also need good communication skills and your problem skills will need to be top-notch in order to analyse the data and make sensible predictions. Other useful skills include:
- Ability to work well in a team
- Analytic personality
- Attention to detail
- Good at making decisions, even while under pressure
- Commercial awareness
- Understanding of business and financial markets (obviously)
- Ability to use initiative
- Negotiating skills
- Good customer service skills