The insurance industry is a key player in our economy and the world of financial services, and it has an essential role to play in the economic future.
As well as enabling individuals to protect themselves and their investments against theft, fire and other damages, insurance companies also intervene in a large number of major lending and investment operations.
There are various different professions that are specific to the field, such as insurance agent or broker, adjustor, chief financial officer and financial analyst. There is also the position of actuary, which is increasingly gaining recognition. Actuaries specialize in the analysis and processing of the financial impact of risk. They apply the principles of mathematics, statistics, probability theory and risk theory to evaluate the potential impact of future circumstances.
There isn’t really a clearly mapped out path for those wishing to pursue a career in the field of insurance or actuarial services. The minimum requirement is to have pursued the relevant academic training, have obtained the mandatory certificate or licence to practise and meet any other requirements of the profession. As for actuaries, they must be well acquainted not only with the financial environment, but also the legal, accounting, fiscal and commercial aspects of their chosen sphere of activity.
Employment opportunities can usually be found at insurance companies (damage, life and group insurance, and pension plans), consulting firms, financial institutions and in various government departments and agencies.
