AM Best’s Post

“The management of risk is a ubiquitous problem in need of solutions,” according to University of South Carolina Professor Robert Hartwig, PhD, CPCU. “As such, we encourage students to not only double major, but to seek internships and careers in industries where their skills are in demand.” Hartwig, who serves as director of the Risk and Uncertainty Management Center at University of South Carolina Darla Moore School of Business, says his goal is to produce graduates with a broad range of skills. #careerdevelopment #riskmanagement #insurance

Fortune’s recent ranking confirms what I have experienced for myself – Nationwide has a culture like no other. It’s one of the reasons I decided to pursue an offer from Nationwide after my internship in 2007. Culture is one of those aspects of a company that is hard to do well and it’s hard for competitors to copy. When a company works hard to ensure they have all the necessary elements that enable a great culture, it’s a true differentiator in the marketplace.

With our powers combined... we can solve the talent gap! 💍 🌐 It really is such a complex issue, it can be hard to know where to begin. However, as we engage with talent and better understand their needs, potential areas of focus emerge. Groups like Gamma Iota Sigma are tackling one of those areas we need to work on - supporting students' interest in RMI careers. I'm still navigating the best ways to leverage my own talents and sphere of influence, but I am confident that all our efforts are making an impact! #InsuranceCareers

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It's encouraging to read articles like this one, highlighting the busy market this year, particularly with a significant number of mid-level to senior specialist roles available. However, it is concerning to note that a large portion of employees in the industry are over 40 years old, a higher proportion compared to a decade ago. This raises the question of how the Lloyd’s Market can attract young talent. Anthony Webster and I have been actively engaging with multiple schools for the last couple of years, conducting 2-hour sessions on various topics such as CV writing, interview skills, role expectations, and industry insights. One of the key aspects of these sessions is the open room conversation, where we discuss career opportunities, particularly in the Insurance and Legal sectors which we specialise in. While apprenticeship programs and graduate schemes are viable options, the challenge lies in the lack of awareness among young individuals about the Insurance market and Lloyd’s. Simply attending career days at sixth forms and universities may not be sufficient to spark interest. To truly engage young talent, it is essential to start the conversation at a younger age. This could involve conducting assemblies, visiting different classes, and providing more exposure to the industry to pique their interest early on (and not just in Grammar schools). By increasing awareness and understanding of the opportunities within the Lloyd’s Market, we can attract a new generation of talent to the sector. #InsuranceIndustry #LloydsMarket #YoungTalent #CareerDevelopment #IndustryEngagement #EducationInitiatives https://lnkd.in/g2brr5qW

AT FAnews Magazine-Online and The Insurance Apprentice (TIA) we are passionate about empowering, elevating and educating everyone about all things insurance and financial services... After each season of The Insurance Apprentice (TIA) we put out a magazine aimed at scholars, students, learners and people who just started working. Great topics - all relevant to this group of people, and we also include some study directions and suggestions. The articles come from our sponsors of the specific season. If you want to see what we do or you you want to share this to anyone you believe might benefit from it, feel free to visit https://lnkd.in/gTnYNZr and you will find the digital version under each season. We are finalising Season 10's magazine and we have actually not included much on learnership in the past, so this is something I thing is fairly critical becuase if someone reads this magazine, and they feel that there is actually something about the industry they like, we surely want them to have options right? And learnerships are most certainly a good option.... So here goes, and normally we would only accomodate the sponsors/partners of the specific season, but because the goal is alot bigger here, I would like to list as many possibilities as possible. Please spam me with options (via email): I will need company name and the contact detail - name, email address and whatever else you want to give me around internships. And if you want a copy or three of the printed magazine, please also let me know. There is a time limit on this 'offer', so please send it now? [email protected] We will be going to print middle of this week, so don't delay please. #Learnerships #shortterminsurance #nonlifeinsurance #careeropportunities #choosinginsurance #insurance #opportunities

At Charlee. ai, we believe in the power of fresh perspectives. That's why we regularly bring on interns and fresh graduates, converting many to full-time roles. Recently, we conducted a survey among our interns' friends, aged 21-26, to gauge their understanding of insurance, claims, and fraud. The results were surprising: • Over 67% admitted they knew little about insurance claims. • Many were okay with committing fraud or had negative perceptions of insurance companies. • This lack of knowledge is fueled by negative headlines and a general misunderstanding of how the industry works. These findings underscore the urgent need for early education about personal finance and insurance. It's crucial that people understand the role of insurance in our society, not just to pick a career but to respect the backbone of many industries. Education at a young age can bridge this gap, ensuring future generations are well-informed and prepared. Learn more here in this spotlight of our founder Sri Ramaswamy from InsurTech Ohio: https://zurl.co/u9gG

🤔 Considering a career in insurance but don’t know how to get started? 🖥️ Our new blog post shares some tips on starting your career! Find out some of the reasons why working in Insurance is an exciting career prospect and find out how to kickstart your career, including details of our Insurance Practitioner Apprenticeship: https://lnkd.in/eKWkXbFt 👇 For more information about Simply Academy’s four Apprentice training programmes, follow the links in the comment below 👇 #Apprenticeships #Apprentices #FinancialServices #Training #SimplyAcademy

Over the past decade, very little consideration has been made for the progression plans into the insurance industry. It's no secret the insurance industry is facing a talent shortage with top employees leaving (most retiring) from the profession - creating stress and failure points in the market 📉 While efforts have been made to attract new talent through university schemes, apprenticeships, and employer branding initiatives, the question still stands... How can insurance employers ensure that their employees are equipped to fill the talent shortage and progress within the industry? 👇

𝗖𝗔𝗦 𝘃𝘀. 𝗦𝗢𝗔... 𝘄𝗵𝗮𝘁'𝘀 𝘁𝗵𝗲 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲? 𝗛𝗼𝘄 𝗱𝗼 𝘆𝗼𝘂 𝗰𝗵𝗼𝗼𝘀𝗲? The Casualty Actuarial Society (CAS) and Society of Actuaries (SOA) are two actuarial organizations that regulate what actuaries do and what their standards are.   CAS makes regulations for the property and casualty (P&C) area of insurance, while SOA makes regulations for actuaries in life, health, pensions and retirement.   The regulations you’ll have to follow will depend on which area you decide to work in. 𝗪𝗵𝗮𝘁 𝘁𝘆𝗽𝗲 𝗼𝗳 𝘄𝗼𝗿𝗸 𝗱𝗼 𝗖𝗔𝗦 𝘃𝘀. 𝗦𝗢𝗔 𝗮𝗰𝘁𝘂𝗮𝗿𝗶𝗲𝘀 𝗱𝗼?    CAS actuaries work in Property & Casualty insurance, which involves insurance policies for things people own. That includes houses, cars, or anything else they own and want to insure!   On the other hand, SOA actuaries deal with insurance for people. That can include life insurance, health insurance, and retirement plans.   Most actuaries end up working in the area that they get their first job in. But if you have a preference for one over the other, it’s good to know ahead of time!   𝗔𝗿𝗲 𝘁𝗵𝗲𝗿𝗲 𝗮𝗻𝘆 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲𝘀 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗖𝗔𝗦 𝗲𝘅𝗮𝗺𝘀 𝘃𝘀. 𝗦𝗢𝗔 𝗲𝘅𝗮𝗺𝘀? No matter which route you go, you still have to take exams. But exactly what those exams cover will depend on which route you take!   That’s because you need to learn different skills to become a life and health actuary than you do to become a property & casualty actuary. There's a lot of debate over which society has harder exams. Since most people only go one route, it's hard to say for sure! So when do you have to choose?   Nowadays, your first two exams (P and FM) will be the same regardless.   You only have to pick your organization after the second one!   𝗛𝗼𝘄 𝗱𝗼 𝘆𝗼𝘂 𝗽𝗶𝗰𝗸 𝗼𝗻𝗲?   A lot of future actuaries worry about which society they should pick.   But this doesn’t usually end up being a big decision.   Instead, most people take the exams that match their first entry-level job.   By that point, you’ll have some relevant experience that will help you pick an entry level job you’ll enjoy.   Otherwise, you can plan ahead and pick the route that interests you more.   So, that’s a quick intro to CAS vs. SOA.   But there's SO much more information to share about the exam pathways, prerequisites and requirements, and how to register for exams. These are must-know topics for any actuary! That's why I'm holding a 𝗳𝗿𝗲𝗲 𝘁𝗿𝗮𝗶𝗻𝗶𝗻𝗴 to teach you ALL about them. This free training is called “Actuarial Exams Made Simple: The Complete Guide to Getting Started With Actuarial Exams" and it's happening live on Feb 19th at 9pm. Click here to sign up for the free training: https://lnkd.in/gbs7e5Xc You’ll leave this session with TONS of info to help you feel confident studying for your first actuarial exam. #actuary #actuarialexams #actuarialscience