Career Sense: Reverse, Prioritize, Partner, Attack
Gone are the days of insurers and brokers offering multiline and multi-divisional training to their new staff.
People entering the workforce today will start their careers with an insurance carrier or brokerage firm within one of the many industry disciplines. They will only be trained to handle that line of business, whether that is property, general liability, professional liability, etc.
The concept of working one line of business used to be part of an old adage, “Become so niched and specialized in one industry and you will never be without a job.”
While accurate, there is one problem with this. You will become an expert in underwriting property insurance or selling cyber errors and omissions (E&O) coverage, but you will also become bored with the field you specialized in.
I speak with insurance professionals in claims to underwriting to risk management, and there is one ensuing trend I see for those that have been in the industry for five-plus years — they’re ready for a change and want to learn a new line of business.
How do you escape this trend of becoming complacent and make a career transition while keeping your love for insurance alive?
1) Reverse engineer your career. If you are new to the industry or even 10 years in, try to envision where you want to be in 10, 20 or 30 years from now and work your way back. Think of the steps you need to take to get you there, and begin to implement them one day at a time.
2) Prioritize ongoing education and certification. Continue to educate yourself as you progress through your career. If you are a producer on the agency/broker side of the business but want to become an underwriter and work for a carrier, consider getting your CPCU designation. If you’re an underwriter and want to make the move to claims, consider getting your AIC designation.
Designations will help you stand out from the competition and show hiring authorities you are serious about making a change.
3) Partner with a niche search consultant. When searching for new opportunities, speak to a recruiter that specializes in the industry. They will be able to offer advice as to how you could parlay your background into a new field or product line. A recruiter’s job is to network with as many industry professionals as possible, which allows him or her to learn about many unadvertised opportunities. They may also be able to “sell” your background and experience to a hiring manager and explain the reasons why you are looking to transition. Sending a resume alone will not have the same impact.
4) Attack social media. As you continue to grow in your profession, make sure you are staying connected through social media. Many successful people in the insurance industry, including producers, account managers, claims professionals and underwriters provide insight into different trends and topics. Plug yourself into conversations with people that work in the area of business you are looking to become a part of.
Social media should not just be used as an educational tool to read articles that are shared; you should make social media a form of conversation with industry peers. Like, share and provide your thoughts on social media content. If you don’t understand something that was mentioned in an article, comment on the post and inquire.
Feeling lost and pigeon-holed is something we all go through in our careers. What you do before and during those times of loss will show your strength and resilience. The ability to push through and make the changes you want to see ultimately lies within yourself. Following and implementing these tips can help set you on the right path toward reaching your future career aspirations.