Working in the insurance industry

Stone MANOR London

Helping people break into the insurance market

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  • Hands-on experience in the industry can be crucial in securing a job … as is flexibility. Get experience in different areas and be willing to travel....get into insurance
  • Risk and Insurance Getting into International Development

Stone Manor - For Example, Staff In The Finance And Audit Departments Are Normally Qualified

For example, staff in the finance and audit departments are normally qualified accountants, whose duties include financial accounting, internal auditing, control of accounting systems and negotiation of tax liabilities. These staff will be based at head office. However, all large branches are likely to contain an administration department which services and reconciles insurance accounts. Case Study: Graham is 29 and has six GCSEs and two A levels.

He has been working in an administration department since leaving school, and describes his job: We reconcile accounts, which means sending statements out to insurance brokers who collect the premiums from the insured and pass them on to us. We have to make sure the amounts agree, and that we receive the sums we should.

Most premiums come through the email, but there is a lot of personal contact as we find it convenient to build up relationships with larger brokers. Once you receive the money you enter it on a computer form. There are no specific qualifications that relate to the work.

It's an aspect of insurance in which you have to know a little about a lot instead of specialising in one class. I started off doing one job, and now I am able to do anything within the department. The department is split up into sections: cashiers who receive the cash and input it to the computer; an agency section which transfers policies from one agent to another; and a collect direct section for clients who do not come through insurance brokers, which means each premium is collected individually. Personnel The vast majority of entrants to this area progress through other departments after acquiring general knowledge and expertise in various insurance functions.

Personnel work involves a wide variety of activities such as training, industrial relations, career development, recruitment, salary administration and statistical work. The acceptance of staff in personnel departments at school leaver or graduate level is usually very limited but depends upon the particular requirements of companies. Secretarial PA and Servicing: Most companies employ young people with some previous computer / Microsoft experience in their school career.

Management Services Division: This Division Normally Includes Several Departments Such As Computers,

Management Services Division: This division normally includes several departments such as computers, management services, and organisation and methods. The insurance indust

(b) Staff Who Reach Executive Level Could Become Involved In Frequent Overseas

(b) Staff who reach executive level could become involved in frequent overseas visits to the areas of their responsibility. (c) Some staff, usually with company rep

The 'bubble Act' Of 1720 Restricted The Provision Of Insurance, Although The

The 'Bubble Act' of 1720 restricted the provision of insurance, although the King later granted charters to the Royal Exchange Assurance and the London Assurance Compa