The Booming Insurance Sector: Insure Your Career Success

Looking for a career that’s dynamic, rewarding, and filled with impact? The UK’s insurance industry is more than just a cornerstone of the economy—it’s brimming with opportunities for graduates and professionals alike. With insurance companies and brokers eager to attract fresh talent, now is the perfect time to explore what this vibrant industry has to offer.

 

Why the Insurance Sector is More Than Just a Safety Net

 

As Europe’s largest insurance market, the UK employs over 300,000 people and contributes nearly £12 billion in taxes annually. Despite its size, many young jobseekers remain unaware of the career possibilities it offers; 8 out of 10 young people say they don’t understand the opportunities available in insurance.

With 80% of insurance firms keen to recruit talent under 30, the industry is ready for a new generation of perspectives and innovators. If you're looking for a career that blends challenge, growth, and stability, insurance could just be your perfect match.

The Intriguing History of Insurance Did you know that modern insurance began in a London coffee house? In 1687, Edward Lloyd opened a coffee shop that became a hotspot for sailors and merchants. Over time, insurers would gather there to offer protection on ships and cargo, giving rise to the term “underwriter.” Lloyd’s of London, the world’s leading insurance marketplace, grew from this modest beginning and remains an industry giant today.

 

A Wide Range of Roles for Every Skillset & Interests

 

The insurance industry offers diverse career paths and roles, each requiring different skillsets. Whether you have a background in statistics, finance, or people skills, there’s a niche for you. Here’s a breakdown:

Technical Roles—for individuals with a maths or statistical background, or analytical abilities:

• Claims/Loss Adjuster: investigate large or complicated claims and help businesses minimise losses and disruption.
• Underwriter: assess risks and decide the extent of protection to provide a client and at what price.
• Data Analyst: provide insights to drive smarter business decisions.
• Surveyors: collect data, review, and put together assessments e.g. related to fire, engineering, liability,…
• Risk Managers: many corporate firms employ suitably qualified persons to assess the risks the organisation faces.

 Client-Facing Roles—for individuals with strong communication and relationship-building skills: 

• Insurance Broker/Market Specialist: act as the bridge between clients and insurers, offering the best policies to fit their needs, and developing expertise in various markets. Day In The Life.
• Business Development, Account Management, & Sales: identify new clients and drive growth for insurance firms. Day In The Life.
• Claims/Account Handler: manage cases and claims on behalf of clients

 Central Functions – Insurance firms will have all of these roles too!

• Operations
• Technology – e.g. software engineer
• Accounting
• Marketing
• HR & Recruitment
• Legal

In addition, the industry offers as many interesting fields to specialise in, far beyond the familiar motor, home, or health sectors. We all know mainstream insurance known as ‘personal insurance’, but have you considered areas related to weather, aviation, cybersecurity, renewable energy, M&A, or marine insurance? ‘Commercial insurance’ includes policies aimed at various business activities.

 

Real Stories: From Athletes to Insurance Professionals

 

Insurance offers an unmatched combination of challenge, reward, and impact—perfect for those transitioning from high-performance environments like sports. Here’s what some of our high-performing placements have to say:

LSE rower student-athlete, Kristian launched his career as a Research Analyst Trainee at the insurance specialist Mactavish: “A Research Analyst role requires attention to detail and creative problem-solving—skills I’m excited to apply in this reactive and technical industry."

Luella Tritton, a netball student-athlete at Newcastle University, turned Broker at John Lamb Hill Oldridge: "Insurance was the dynamic, rewarding, and sociable industry I wanted to join. I'm excited to be part of a small family-owned firm where I'll gain extensive exposure and work closely with seasoned professionals."

Former full international Hockey player, Geography graduate of the University of Exeter, Kate Axford shares: “No day is the same, and the industry is constantly affected by global events, which businesses, and consequently their insurance programmes must frequently adapt to, making it incredibly dynamic”.

 

add-victor’s Partners: Connecting You to Industry Leaders

 

We’ve built strong relationships with top-tier insurance firms to help student-athletes and professionals find rewarding careers. Some of the companies we work with include:

• Lockton: the world’s largest independent insurance broker—known for its dynamic work environment and growth opportunities.
• Mactavish: the UK’s leading independent buyer of insurance on behalf of business policyholders. 
• Charles Taylor: providing an unrivalled and growing range of insurance services, claims and technology solutions across the globe.
• John Lamb Hill Oldridge: award-winning specialist firm in financial planning and insurance underwriting and broking.
• Vitesse: InsurTech making waves as the payment partner of choice for the insurance market. allowing insurers to process claims in as fast as 45 seconds, setting a new standard of efficiency.
• MS Amlin: a leading insurer and reinsurer, and part of the global top 10 insurance
• Liberty Specialty Markets: part of the Liberty Mutual Insurance Group, offering a comprehensive range of insurance products and services to our valued broker partners and clients globally.
• BMS Group: a leading independent specialist (re)insurance broker, providing comprehensive, customised solutions in the fields of retail, wholesale, reinsurance, direct insurance, and capital advisory.
• Chubb: provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life 

 

The Future of Insurance: Tech-Driven and Diverse

 

While insurance has deep historical roots, the industry is rapidly modernising to keep pace with the digital era. Innovations in AI & Machine Learning, data analytics, and automation are revolutionising everything from fraud detection to customer service. AI will help companies achieve automation (robot-advisors) and enhanced personalisation. Specialised functions such as fraud prevention, anti-money laundering, underwriting, and pricing are set to be overhauled using this tech. A new generation of customers expects seamless online interactions, with 61% preferring to manage their policies digitally. Yet, the industry remains built on relationships and trust, uniquely blending tradition and innovation.

While the sector is evolving, it still faces challenges in diversity. Only 3% of Executive Directors in London’s insurance market are female, and the industry is working hard to attract more women and multicultural talent. Initiatives like the Insurance Cultural Awareness Network and The Association of British Insurers are leading the charge for a more inclusive future.

Marina Eden Tirado

 

Sources:

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• Dennis Watkins. (2017). A brief history of insurance | Dennis Watkins. [online] Available at: https://www.denniswatkins.co.uk/articles/a-brief-history-of-insurance/.
• Doyle, N. (2022). Young People in Insurance and the Barriers they Face Entering the Market. [online] REG Technologies. Available at: https://reg.uk.com/news/young-people-in-insurance-and-the-barriers-they-face-entering-the-market/.
• Hersch, K. (2023) 2024 insurance outlook, Deloitte Insights. Available at: https://www2.deloitte.com/us/en/insights/industry/financial-services/financial-services-industry-outlooks/insurance-industry-outlook.html (Accessed: 19 June 2024).
• Insurance Careers (n.d.). What career opportunities are there in Insurance? [online] Available at: https://www.insurancecareers.co.uk/profession-overview/what-career-opportunities-are-there-in-insurance/
• Kagan, J. (2024) Insurance: Definition, how it works, and main types of policies, Investopedia. Available at: https://www.investopedia.com/terms/i/insurance.asp (Accessed: 19 June 2024).
• PricewaterhouseCoopers (no date) Insurance 2025 and beyond, PwC. Available at: https://www.pwc.com/gx/en/industries/financial-services/publications/financial-services-in-2025/insurance-in-2025.html (Accessed: 19 June 2024).
• What is an insurance broker? (2023) WS Insurance Brokers. Available at: https://wsinsurance.co.uk/what-is-an-insurance-broker/#:~:text=An%20insurance%20broker%20acts%20as%20an%20intermediary%20between,needs%2C%20negotiating%20terms%20and%20prices%20on%20your%20behalf (Accessed: 19 June 2024).