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Career opportunities for insurance degree holder

  • Claims Adjuster
  • Claims Examiner
  • Insurance Investigator
  • Insurance Underwriter
  • Claims Investigator
  • Risk Manager
  • Marketing Managers
  • Customer Service Managers

DEMAND IN EDUCATION SECTOR:

With the expansion of Insurance and Risk Management activities in schools and educational institutions, the graduates of this degree program are highly demanded. This is a professional B.Sc. degree program in a subject area of strong local and global demand, which has however, not yet become part of regular curriculum of most universities in Sri Lanka. Insurance Degree Programs are offered in State universities only. The only Non-State higher education institute to offer an Insurance Degree Program in is SANASA Campus. This program is conducted in English medium. Therefore, graduates of this degree program are in high demand within Sri Lanka and foreign countries. This degree program is one of the basic qualification to become a Charted Insurer.

Demand in the industry:

There are no business and industrial activities in the world without Insurance and Risk Management. Nobody is allowed to bring a vehicle to the road without Insurance. Nobody is given a letter of credit facilities from a bank without insurance. Due to the labour shortage in the country, home insurance policies are in high demand to substitute the security personnel. Insurers, through the loss prevention activities, contribute to the economy by decreasing the chance of loss and insurance contribute to social and business stability by taking up the uncertainties in risk that families or business may face. Insurance Operations professionals involved in the strategic decision-making process of the company to deliver better results to policyholders and shareholders. Therefore Insurance Operations staff act as the back born of an insurance company by directly getting involved in the operational work and strategic decision implementation rather than being in the back office by doing a routine data entry job.

Insurance or any other industry progress with innovation, therefore it has to believe in the innovation of insurance products. Young insurance professionals with insurance educational background have a higher chance of taking the Sri Lankan insurance industry to the next level with the innovative ideas they possess along with the quickness of embracing technological developments. Almost all the insurance companies’ top managements consist of insurance professionals who possess insurance qualifications and most of them progressed in their career by working in an Insurance Operations department of a company.

SANASA Campus is the local body for higher education institute in insurance and risk management courses, which conducts in Sri Lanka. Insurance graduate can be labelled as a global passport where it allows insurance professionals to spot career opportunities beyond the local boundaries and local/foreign employers are eager to recruit such professionals’ to augment the quality of their intellectual capital. Also, the unparalleled local/foreign training and development exposure is one of the uniqueness of the insurance industry.

On the other hand Insurance, specific degree programs certainly fill a huge vacuum in the industry by developing dynamic young insurance professionals to the industry in Sri Lanka as well as in developed countries. Though the industry has failed to attract the cream of the young professionals mainly due to the unawareness of the career opportunities in the insurance operations sector or inability to spot the future potential of Sri Lankan insurance Sector by completing this degree program undergraduate can be actively work with the foreign insurance professional bodies such as Charted Insurance Institute, Lloyd’s companies.

The insurance business is not all about sales or marketing, it requires professionals with insurance qualification to drive the operational task to deliver better results to all the stakeholders of the business. The insurance industry has two main parties directly involved in the business process apart from the support services, namely sales staff and operations staff. Academic qualification is one thing which widens knowledge and thinking pattern, but working in a professional environment is one that gives the pedigree that drives the business and that’s the module insurance industry gives professionalism.

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