India has a promising market for insurance companies and so is true about career in insurance sector as currently life and general insurance accounts just to 2.5% of NGDP which is a miniscule portion seeing the country’s huge GDP. Post-liberalization India's insurance sector has gone through several phases and changes and now foreign insurance companies can invest up to 26 in Indian insurance company. The decision to allow FDI in insurance sector will increase options for Indian customers.
Despite the fact that India has a number of insurance companies government owned insurance companies are still enjoying monopoly over others and one reason may be is that people trust government insurance company more than private insurance firm which may run away overnight. Graduates in finance have fair chances of getting a job in insurance sector. However, a person MBA in finance and marketing can excel a lot in the sector.
Career in Insurance Sector in India
Trained professionals with qualification in finance or insurance can work as Actuary, Agent and Broker, Claims Adjuster, Service Representatives, Customer Service Agent, etc. Additionally, they have options of working as Loss Control Specialist, Risk Manager, Underwriter, etc. for various insurance services providing company. Moreover, those who are good at Finance, Risk Management, Accounting, Tax, Audit, Strategy, Marketing, Sales, etc. have plenty of job options in insurance sector.
Lately, the insurance sector has become an attractive job option for millions of youngsters as it offers flexible working hours and attractive salary packages. Even career counselors have started to suggest students that increase in the population and their age as well as wealth would cause the growth in the demand for insurance and insurance companies in India would be able to cash in the opportunity which ultimately would increase the number of jobs in insurance sector.
Overseas Attraction in Insurance Sector
Besides lucrative job options in Indian insurance sector, various jobs options in overseas insurance companies are equally interesting and attractive and for that reason Indian Insurance Professionals should not only try for Indian market rather should go for global future. Whereas European insurance sector with its premium income of $1,681bn have plenty of scope, North American premium income $1,330bn, and Asian premium income $814bn, shows lots of potential to generate ample jobs.
With apt qualification a right candidate can have plenty of jobs in US and UK for the reason that the two countries enjoy more than 42% share of global insurance. Leading insurance companies of India such as Bajaj Allianz Life Insurance Company, Birla Sun Life Insurance Co. Ltd, HDFC Standard life Insurance Co. Ltd, ICICI Prudential Life Insurance Co. Ltd., ING Vysya Life Insurance Company Ltd., Life Insurance Corporation of India, Max New York Life Insurance Co. Ltd, and many others are known to offer attractive jobs in insurance sector.
Leading Insurance companies in India
Leading insurance companies though are in government sector, some private sector insurance companies in India such as Met Life India Insurance Company Ltd., Kotak Mahindra Old Mutual Life Insurance Limited, SBI Life Insurance Co. Ltd, Tata AIG Life Insurance Company Limited, Reliance Life Insurance Company Limited., Aviva Life Insurance Co. India Pvt. Ltd., Shriram Life Insurance Co, Ltd., Sahara India Life Insurance, Bharti AXA Life Insurance, etc. are known to offer affordable and attractive insurance solutions to customers.
|
