Insurance Jobs

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About Insurance Industry in India

The life insurance sector of India has occupied the 5th position in the global market and its insurance industry's value is estimated to be US$ 41-billion. There are 22 life insurance companies in India. Every company major is coming up with an array of fresh products to increase its customer base. At present, the industry is allowed the foreign direct investment (FDI) of up to 26%. With rising at the rate of 32 to 34% on annual basis, the industry offers excellent scope of competitiveness and growth to individuals. Hence, if you are looking for a better tomorrow, you can apply for any of the insurance jobs in India.

Insurance Job Profiles in India

The Indian insurance industry churns out large volume of jobs every year. This industry is so vast that you would find attractive opportunities in the fields of general insurance, health insurance, finance insurance, travel insurance, online insurance and not to forget the life insurance. However, some of the specific areas of expertise in this industry include:

  • Agent and Broker: Insurance agents/ brokers are the people who give product advice to the clients in order to sell company's product.

  • Customer Service Agent: the person in-charge of this post needs to interact with the customer on daily basis in the agency to update policy as well as coverage details.

  • Claims Adjuster: the office holder needs to ascertain the range of damage in case of accidents and see if the insurance policy can cover it. He/ she make way for settlement between the insurance company and its customers.

  • Actuary: this is one of the very crucial insurance jobs. The person in-charge of this office needs to analyze the risks involved in creating the insurance policies in the areas of business, property or life & death of the person. To find a job in this area, the aspirant needs to be Mathematics, Econometrics, Statistics or Computer Science graduate. MBAs in finance can also apply for the post.

  • Risk Manager: the person needs to spot the risk and suggest the ways to tackle such risks.

  • Service Representatives: this profile demands an individual to act as a medium between the insurance companies and agents.

  • Loss Control Specialist: the office holder needs to look into safety measures so that accidents at the workplace which can lead to financial losses can be avoided.

  • Underwriter: the office holder needs to determine the applicant's chances of risks and whether the policy chosen by him/ her meets the insurance standard.

Eligibility Criteria for Insurance Jobs in India

To apply for the jobs in insurance industry, the candidate needs to hold degrees in the field of economics or business. The diploma or degree holders in finance or insurance are also eligible for the jobs in this industry. The candidates who have knack for sales can also look for the opportunities in this field.

Famous Insurance Companies in India

India has 30 insurance companies in total in government and private sectors. However, the area of expertise of these companies differs from one another. Before applying for insurance jobs in any of these companies, you need to see if your qualification matches with their requirements. You would find major openings in the general as well as life insurance fields in this industry.

Besides, some of the top insurance companies in India which you can take into consideration while applying for insurance jobs are:

  • Life Insurance Corporation In India (LIC)
  • Aviva Life Insurance
  • Birla Allianz Life Insurance Company Limited
  • ICIC Prudential Life Insurance Company Limited
  • HDFC Standard Life Insurance Co. Ltd
  • Max New York Life Insurance Co. Ltd
  • SBI Life Insurance Co Ltd
  • Religare Life Insurance

Last Updated on 15-06-2011

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