The insurance sector emerged as the biggest employer in India, recording a growth of 21% in July’22. It offers a multitude of opportunities for career aspirants. Insurance professionals have access to full-time as well as part-time employment opportunities. Over 1 Million people are working today as employees in the insurance sector. About 4 million+ are associated as insurance advisors, consultants, surveyors, loss assessors, underwriters, insurance claim
settlers, salvage dealers, brokers, sub-brokers, etc.
From millennials to aged or retired individuals, from working individuals to housewives, the insurance industry accommodates people of all age groups and educational levels.
Expansion of the Insurance Industry
There have been people who have built rewarding careers in the general insurance industry. We have working professionals from other industries who started in insurance part-time and later made it into a full-time profession. There have been students who learned about insurance products, approached people from their natural market, and started earning.
Some housewives earn a monthly income of Rs. 30,000, are independent, and do extremely good for themselves. We have entrepreneurs who took up insurance as a side business since they already had an existing customer base. However, today they manage an annual portfolio of more than Rs. 3 crores. There are examples of people from other professions like teachers, doctors, drivers, lawyers, etc. who have come out with flying colors success. General insurance is everywhere and is for everyone.
Opportunity in General Insurance Industry
The general insurance industry is an essential, diverse and stable industry of all times. It has successfully withstood the COVID-19 era. It has consistently delivered year-on-year double-digit growth. The opportunity that the general insurance
industry offers, is humongous. This is the industry where you get paid for serving others, you are paid for doing good. An industry that allows you to build stronger alliances with people and secure their assets. Insurance is a noble profession to be in and make a difference in their lives by helping them in their dire hours of need.
Despite of such a positive side that the general insurance industry offers, people are still not keen on becoming a part of it. One of the key reasons that have been identified is the lack of awareness about career opportunities and limited knowledge about the insurance industry.
Bajaj Finserv Group’s flagship employability initiative
, has been involved in skilling and grooming the youth in India who are keen on building a career in the BFSI sector. The BEYOND Program has thrived to assist graduates from smaller towns with limited opportunities to achieve their aspirations.
Over 20,000 graduates have benefitted from the program and it has helped in inculcating the right capabilities to compete for job opportunities in the BFSI sector.
The Bajaj Finserv Group has now extended the scope of its ‘BEYOND’ initiative to anyone and everyone looking for part-time or full-time employment by launching the ‘Career Academy’
- a promising program to unleash the world of opportunities in the prospering General Insurance Industry.
This program is specially curated to create more awareness about the plethora of opportunities available in the general insurance space. The idea skill is to empower the aspirants with an in-depth understanding of the general insurance industry. The aspirants should know about the products, have negotiation and presentation skills, etc.
On successful completion of the 30-day program and passing the knowledge assessment, the aspirants get certified as insurance professionals by Bajaj Finserv Group in association with a renowned Insurance Institute in India.
This certification helps the aspirants and opens up employment opportunities across various insurance companies in India.
The Career Academy Program not only aims to develop a new and skilled workforce for the industry but also endeavors to create 10,000 insurance professionals in the coming year. This new talent pool will surely help in increasing awareness about the industry and ensure the overall organic growth of the insurance market.
The Bottom Line
Indeed, the golden period of the insurance industry has just begun. With the advent of new insurance companies, changes in IRDAI regulations, and enormous opportunities to penetrate, the insurance industry is sure to make a big impact in the coming years.
Here’s a chance to make it big in the insurance space with the right opportunity knocking on your door.
Come and join the industry’s most exclusive and comprehensive program – ‘Career Academy’ to explore a world of opportunities in the insurance space.
To know more about the program, click below –
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Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
Aditya Sharma, Chief Distribution Officer – Retail Sales, Bajaj Allianz General Insurance