What is Insurance?

Insurance is a form of risk management used by individuals and companies to hedge against a possible uncertain loss. Insurance professionals undertake a variety of services including calculating the cost of insurance, the terms and conditions of providing the insurance and the investigation and payment of insurance claims.


  • Insurance broker
  • Insurance risk surveyor
  • Insurance underwriter
  • Insurance claims inspector

What skills do you need to work in insurance?

  • Research and analysis
  • Excellent attention to detail
  • Effective communication and interpersonal skills
  • Numerical dexterity
  • Excellent customer service skills
  • Negotiation and selling ability

Where do insurance professionals work?

Insurance professions will often specialize in one of the following areas:

  • Insurance brokerage
  • Insurance underwriting
  • Corporate finance
  • Investment banking

Typical work activities

  • Gathering information
  • Investigating claims
  • Advising clients on risk and risk management
  • Calculating levels of risk
  • Deciding whether to accept insurance applications
  • Collecting insurance premiums and managing insurance accounts
  • Selling products to customers

Find out more

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