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Educational Requirements for Insurance Jobs

If you are assessing insurance as a career option and reviewing insurance jobs available to develop a feel for the market, then knowledge of the professional requirements is invaluable. Generally, a degree is seen as essential for mainstream management in an insurance company. However, it is not impossible, even today, to start in an administration job and progress into senior management. For those who do not have higher educational qualifications, but aspire to management, part-time study for a degree (typically with the Open University) is an option. Also, part-time study for professional qualifications is possible.

For most positions of responsibility within the insurance industry, membership of a leading professional organisation is mandatory and may even be a legal requirement. In some cases, an employer may offer support for an employee studying for membership of the Chartered Insurance Institute (‘CII’), which is the leading institute in the UK for insurance professionals. This study support can be a valuable part of an employment package to be considered when you are discussing compensation package options during interview,

The CII has three main divisions (‘faculties’) – General Insurance, Financial Services and Mortgages – and unless you are a very talented individual, then it is unlikely that you will be able to qualify for more than one faculty. High profile legal cases have put the industry under severe scrutiny for all sort of reasons, ranging from fraud through to pensions mis-selling. The regulatory environment is stringent and Independent Financial Advisors, for example, must be individually licensed to practice. In all of the faculties, regular training updates will be required to ensure that individuals are up to speed with the latest legal changes and professional developments. This is called Continuous Professional Development (‘CPD’) and is part of the life of most professionals from Surgeons to Pensions Advisors in 21st Century.

About the Author : Emily Inglis is a writer and supporter of insurance jobs



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