What career opportunities does insurance offer the next generation?
Six students from St. John’s University share their insights on insurance in this Insurance Speak podcast.
The insurance industry can trace its roots back to the 1600s in the U.K., and while the perils that are covered have changed significantly over the years, the need for insurance has expanded to mitigate all sorts of risks ranging from semi-autonomous cars to complex and specialty claims and the new sharing economy.
A significant number of professionals will retire in the next few years. This Insurance Speak podcast features a conversation with six students who attend the Maurice R. Greenberg School of Risk Management, Insurance & Actuarial Science at St. John’s University in New York City.
The students shared their insights on how insurers can attract and hire the next generation of professionals, explained why the insurance industry appeals to them as a career choice, discussed the internships and opportunities the program provides and forecasted where they see the industry’s future. They also participated in a webinar that provided information about the St. John’s program and a more in-depth look at these issues.
Taylor Sebastian says a desire to learn more about professional sports management sparked her interest in pursuing information about understanding risk, so she sought out several St. John’s programs. Elina Goykhman’s exposure to the industry came at an early age since her mother worked in insurance. She knew she wanted to do something related to math for her career and Goykhman learned about the opportunities for actuaries in insurance from a calculus professor.
Graduate student Nitin Basra conveyed his enthusiasm for the industry when he said, “Insurance is the best-kept secret. You meet amazing people, and people are so willing to help you!” Anaha Babu agreed with Basra’s assessment explaining the insurance industry truly is a hidden gem and is definitely a relationship-focused business.
The importance of relationships was a theme that all of the students echoed. “Relationships matter, and that’s the foundation of insurance,” added Kostas Diakogeorgios. He was also exposed to the importance of life insurance as a teenager and views its role as being his family’s “guardian angel.”
Among the factors that attracted these students to the industry were insurers’ focus on community affairs and giving back in different ways, the opportunities to travel to places like London to visit Lloyd’s of London, to attend RIMS in California, and to meet with and be mentored by multiple professionals within the industry. They also liked the flexibility working in insurance provides, and Ally Nelson strongly encouraged insurers to “give people the opportunity to move around in a company” because there are a variety of roles available to individuals who want to pursue a career in the industry.
For more on how these future executives view the insurance industry, listen to the podcast above or subscribe to Insurance Speak on Spotify, Apple Music or Libsyn.
Related: