Even throughout the pandemic, insurance jobs in Canada were growing as the industry was deemed an essential service. Nothing in the modern economy moves or gets built without insurance.
The insurance industry is one of the world’s oldest. Since the early days of humanity, we’ve always demonstrated a willingness to pool resources and help others in a time of need. The insurance industry we see today is just a formalization of that basic risk sharing principle.
As early as 5000 BCE, Chinese sailors started redistributing cargo to several boats as they approached dangerous waters. If one boat was lost, all the boat owners should share in the loss so no single person was completely wiped out. As trade grew more complex, they needed a formal way to deal with risk. And so, the insurance industry was born.
TYPES OF INSURANCE JOBS IN CANADA
There are many jobs available in the insurance industry – too many to list in fact. But some examples are:
- Claims Adjuster
- Risk Analyst
- Financial Analyst
- Investment Manager
- Insurance Broker/Advisor
Many of the jobs listed above require either formal or on-the-job training but for the purposes of this article, we will focus on insurance brokers.
An insurance broker or advisor’s job is to work with clients, help them understand their risks, and devise ways to manage that risk (whether it’s with insurance products or alternative risk management methods). Clients rely on you as a trusted advisor.
BECOMING AN INSURANCE BROKER IN CANADA
To become an insurance broker in Canada, you first have to pass your province’s insurance licensing exam. The specific courses you’ll need to take will change depending on the province. Fortunately, PNC Learning provides insurance licensing exam prep courses for every province in Canada except Quebec.
INSURANCE BROKER JOBS IN CANADA
Becoming an insurance broker in Canada can be a very rewarding and fulfilling job. With plenty of flexibility, you are free to pursue different industries or work that interests you the most. This flexible and inclusive industry makes room for everyone of every skill set, interests, background, and ambition.
Whether you want to help your local community or do big deals with multi-national corporations structuring complex insurance and risk transfer products, there is a way for you to do that in the Canadian insurance industry.
For those looking for a stable comfortable career, look no further than insurance. Whether it’s working as an advisor or in the back office in a more administrative role, there is room for all personality types in this industry.
For the entrepreneurial types, you can build your own book of business as an independent broker (producer) or work to start your own insurance brokerage.
If you have a more tech focus, there is lots of opportunity for insuretech leveraging technologies like blockchain to improve efficiencies and create new and innovative insurance solutions for the world.
This isn’t your parent’s insurance industry anymore and there’s plenty of room for innovation and fresh ideas to join and revolutionize this millennia-old industry.