They’re in the money ...business
Shining in insurance
- Name:
- Rebecca Pontone
- Age:
- 25
- Job title:
- Claims Handler
- Employer:
- Zurich, home insurance team
- Route in:
- Travel consultant - Temping as a filing clerk
“Insurance is fun and filled with people from all age ranges and walks of life. My first job in travel was certainly more stressful and target driven. This job allows me to interact with colleagues and customers more. We’ve a great team atmosphere, socialising and going away on weekend trips. I’ve been able to combine my career aspirations with building up a network of close friends! There’s never a dull moment. When people buy insurance, they’re buying our service. So while emergency floods can be stressful and distressing for customers, it’s our opportunity to shine.
“A large part of my work is registering new claims, listening and building customers’ trust. To accomplish this requires a team effort. Claims is just the centrepiece of the service, so I have to be organised, arranging builders and contractors to visit them immediately. When I get letters from customers praising our efforts and my personal contribution I feel I’ve made a real difference.”
Best bits...
“Helping people, the sociability and the training opportunities.”
Worst bits...
“Having to counteract people’s cynicism about this job. Don’t knock it until you’ve tried it!”
The risk factor
- Name:
- Paul Rogers
- Age:
- 26
- Job title:
- Medical Underwriter
- Employer:
- Legal & General
- Route in:
- Psychology and Sport Science degree
"I am responsible for assessing the risk and then generating the appropriate terms for Life Assurance, Critical Illness Cover and Permanent Health Insurance policies. When a customer applies for insurance cover for one or more of these areas, my job is to vet the application. If they have no prior medical conditions or are regarded as 'totally clean', for example non-smokers with a moderate lifestyle, then standard terms usually apply. I analyse the finer points, trying to determine what their health is likely to be over the term of the policy and how individual factors relate. It's very personal for each customer.
"There are obviously different standards of health. When a customer discloses a prior medical condition or particular family history we may investigate further, for example, getting a report from their GP or asking that they attend a medical examination. On receipt of the report, I may even talk to cardiologists for advice, so it's pretty varied. A scientific or medical background obviously helps with technical aspects, although it's not vital. Based upon risk factors and associated mortality, disability and illness rates, I may exclude certain elements or increase the premium.
“I would also investigate higher sums assured, through financial assessment to avoid customers over insuring themselves and assess other risk factors such as foreign travel and potentially hazardous activities such as motorsport.
"I enjoy the busy nature of underwriting. The great thing about the job is the responsibility you can get early on. There are always new challenges and you can take control of the workflow, leading projects and trying to improve processes. There's also a lot of client interaction and liaising with medical professionals. I find myself constantly amazed by the progress in medical science."
Naval training to insurance
- Name:
- David Gilchrist
- Age:
- 25
- Job title:
- Schemes Development Manager/Insurance Underwriter
- Employer:
- Composite Legal Expenses Ltd
- Route in:
- Temporary work whilst an undergraduate
“I suppose my career background is somewhat unusual. After mainly Science A-levels I was dead set on a career as a high flying City Lawyer. However on closer inspection I decided against it and instead pushed ahead with another of my childhood dreams - to be a Captain of a Royal Navy Nuclear Submarine Boat!
“Throughout my undergraduate years I worked at Composite Legal Expenses in a variety of roles, but mainly in claims. As we deal with complex legal issues I was able to both apply what I was learning but also gain some valuable experience ‘on the job’.
“I enjoyed the work so much and could see a definite career path in the company, that despite qualifying as a Naval Officer in Dartmouth, I chose to extend my stay within insurance full-time.
“The biggest eye opener for me was how far away it is from the vision I had of a boring, dull, grey suited industry. I work in a fast paced, young industry that embodies a true entrepreneurial spirit and ‘can do’ attitude that I really enjoy. You only need to look around at some of the real success stories in South Wales to see what a focused individual can accomplish.
“I guess it’s a bit of an over-used joke in the legal professions that Lawyers are appalling at Maths, but A-Levels are more than sufficient. To be honest I think it’s more about how you apply your knowledge than the grades you get in exams.
“The vast majority of my training has been in-house. You learn lots from those around you, and not just people who work in your company. I’ve been fortunate enough to attend technical conferences and job specific training days but none of these are an exact replacement for just working your way through the problems and asking for help when you reach stalemate.
“I think the one thing that makes my work days enjoyable are the people. The nature of our business means we rarely deal with the public consumers and instead rely on more business-to-business transactions. Despite this it doesn’t matter if it’s a team or board meeting in Cardiff, or rushing off to London to handle a multi-million pound renewal - it’s all about people and how you interact with them. The backgrounds of people in an insurance boardroom are mind-boggling. There’s everything from Claims, Actuaries, Underwriters, Sales and Marketing.”
Best Bits...
The sheer diversity that the insurance industry covers. You name it we’ve got it covered, from Aerospace to Zoos.
Worst Bits...
The job can get a bit pressured when deadlines have to be met, but it’s not all the time and can be quite fun when you look back on what you’ve managed to achieve.
And there’s more...
Grief counsellors, legal eagles, fraud investigators, project managers – the list of jobs is endless. The risk business isn’t a risky choice when it comes to personal rewards and adding value to people’s lives.
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