The insurance industry provides protection to businesses and individuals in the event of a financial loss resulting from events such as a car accident, death, fire or illness. The insurance industry is composed of insurance companies who provide insurance, insurance agents who sell insurance, underwriters, and claims investigators. The insurance industry employed about 2.3 million individuals in 1998. Insurance companies provide 7 out of 10 jobs in the industry, with independent sales agents holding 3 out of 10 jobs.

The newest trend in this industry, due to deregulation, allows insurers, banks and securities brokers the opportunity to merge and cross-sell each other’s services. Employment in the insurance industry is expected to increase at the national average for all industries, which is 10% through 2008. Growing occupations include systems analysts and claim investigators.

Individuals who are interested in being a claims investigator or sales agent must have strong customer relations skills and attention to detail. Those who display a high aptitude for math may enjoy a career as an actuary.

There are several courses of study that would help make someone successful in this career field. Some suggested courses are: accounting, business principles, marketing, English, and economics.

The majority of workers in this industry work a 5-day, 40-hour workweek in an office environment. Those in management may work more than 40 hours. Sales staff and claims investigators work irregular hours, usually arranging their schedules to meet with prospects and clients outside the office. The incidents of occupational injuries and illnesses in this industry are significantly lower than the national average.