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The prognosticators are telling us that one of the most secure jobs in New York today and into the future, are in the insurance industry. Insurance? You mean those guys who used to go door to door like encyclopedia or vacuum salesmen? You mean those guys have the securest jobs of the future? It seems incredulous – but it is true.

The problem is we tend to think of the insurance industry in New York as insurance agents and only agents. However, there is a lot more to insurance these days than just agents and agencies. There are claims adjusters, underwriters, actuaries, software programmers and developers.

There is also a major shortage of talent in the industry and a wide open market for those who want to make insurance their career. It is projected that nearly one fourth of all those who currently work in insurance will be retired by 2018.

By 2022, the industry will need 7000 actuaries, 72,000 claims adjusters, 8,500 software programmers, developers, and underwriters according to information compiled by the United States Bureau of Labor Statistics. The industry has not exactly done a bang up job when it comes to selling itself.

Due to this, young people in their late 20’s are quickly reaching management levels. A Risk Manager for example has a challenging job with lots of responsibilities. They are responsible for making sure insured facilities are secure and safe, coverage is adequate, and can mitigate disasters.

Risk Managers also contribute to the companies’ bottom line. They are involved heavily in any new company acquisitions, helping to make sure that the buildings –old and new – are adequate and correctly insured. This brings a lot of challenges and responsibility that most do not expect to find in the “mundane” insurance field.

Realizing the growth in this field over the past few years has led many colleges and universities to offer majors in insurance programs, many of which are quite extensive. In Indiana alone, there are a couple of extremely well regarded programs in well renowned schools including Indiana State University. In addition, Butler University has 50 different insurance majors in their program. Graduates of these programs have no problems finding jobs, in fact Butler reports that their graduates typically find jobs with starting pay in the range of $50,000 and up right out of under graduate school, although many also perform internships after under graduate training.

There are only about 60 colleges and universities in the United States that offer majors in insurance fields. Demand in this industry is so high and will be for many years that it is an open field for universities and colleges to enter into as well. In addition, some colleges and universities are starting actual insurance companies run by students. These insurance companies might insure the vehicles of the school, the life of a living mascot, even liability insurance for school events might be covered.

These school based insurance programs help students get hands on experience in writing policies, performing underwriting duties and selling policies, as well as financing companies. More programs like this are needed today. So if you’re in New York and want a great challenge, in a fast growing career with the chance for advancement and a good salary, try the insurance industry.

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