3 answers
Maria
Student
Rogersville, Tennessee
2
Questions
Asked
984 views
What is an uncommon but interesting job in the business industry?
I think I would prefer a job in the business industry, but I am not sure what specifically #business
Login to comment
3 answers
Caylee Betts
Product Designer
4
Answers
New York, New York
Updated
Caylee’s Answer
Product Design (aka UX Design) is super fascinating! Combines understanding business needs, solving business problems, understanding customer/user psychology, research, and some visual work with new/interesting software. Despite common beliefs, it's not very artistic, but the thinking is very creative/innovative.
Mary Slagle
Business Development/Underwriting Manager
12
Answers
Laguna Niguel, California
Updated
Mary’s Answer
Hi Maria,
Although it may not seem uncommon, the insurance industry has many career options that are interesting. I want to also mention, insurance is a necessary evil and often times recession-proof. I don't know anybody who has been laid off during Covid-19 either.
I work in the commercial underwriting sector of insurance. I determine if my company will insure small, medium and large companies. I look at what type of work they do, where they are located, how many employees they have and what kind of claims they have filed in the last 4 to 5 years. Then, I decide if I want to provide a quote by pricing the business. I work with insurance agents/brokers and provide them the quote. They work with the business owner to present my number. If I win the business then I monitor the account over the course of the year to make sure they aren't having too many claims. The idea is to remain their insurance carrier for many years to come.
It takes several years to learn this line of work and it is definitely a skill not many people have in the business world. It is a very stable career and there is always a possibility to move up the ladder in a large insurance company. I enjoy what I do and now I have the responsibility of managing a team of underwriters. They look at companies and then ask me for help when they are not sure about the risk involved or how much we should charge. The average size of the accounts I work on is around $350,000 for a one year policy. Part of the skill involves using actuarial data to price the account based on what they do.
Let me know if you have any questions!
Thanks,
Mary
Although it may not seem uncommon, the insurance industry has many career options that are interesting. I want to also mention, insurance is a necessary evil and often times recession-proof. I don't know anybody who has been laid off during Covid-19 either.
I work in the commercial underwriting sector of insurance. I determine if my company will insure small, medium and large companies. I look at what type of work they do, where they are located, how many employees they have and what kind of claims they have filed in the last 4 to 5 years. Then, I decide if I want to provide a quote by pricing the business. I work with insurance agents/brokers and provide them the quote. They work with the business owner to present my number. If I win the business then I monitor the account over the course of the year to make sure they aren't having too many claims. The idea is to remain their insurance carrier for many years to come.
It takes several years to learn this line of work and it is definitely a skill not many people have in the business world. It is a very stable career and there is always a possibility to move up the ladder in a large insurance company. I enjoy what I do and now I have the responsibility of managing a team of underwriters. They look at companies and then ask me for help when they are not sure about the risk involved or how much we should charge. The average size of the accounts I work on is around $350,000 for a one year policy. Part of the skill involves using actuarial data to price the account based on what they do.
Let me know if you have any questions!
Thanks,
Mary
Bart Lagomarsino
Finance - Contract Management
5
Answers
Lebanon Township, NJ
Updated
Bart’s Answer
Hi Maria. Adding on to Caylee's answer here and agree. Beyong just product, the marketing teams that support these products get an in depth understanding of the solution and help align the value prop to the appropriate segments. We often do in person studies that help feed the product machine and provide the inisght needed for companies to build the right solutions to address customers need and wants. Every day seems like a new adventure since customers needs and wants vary by segment or persona. This means, you are always finding new concepts for value propositions and researching the viability.