What does an Insurance do?

Learn all about Insurance duties, skills and much more. Get expert advice on how to become an Insurance.

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Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 3 min read

An insurance is a contract between you and an insurance company in which the company agrees to provide financial protection against certain risks in exchange for your premium payments.

Insurance job duties include:

  • Research and analyze insurance policy terms to determine whether claims will be covered by the policy
  • Investigate claims by interviewing witnesses, reviewing police reports, and inspecting property damage
  • Determine liability of claims and extent of damages
  • Prepare reports that document findings and recommendations
  • Negotiate settlements with claimants or attorneys
  • Authorize payment of claims within prescribed limits
  • Refer cases to lawyers when necessary
  • Manage a team of claim adjusters
  • Evaluate new insurance policies for potential risks

Insurance Job Requirements

There are many different types of insurance, so the job requirements for an insurance agent vary depending on the type of insurance being sold. However, most insurance agents need at least a high school diploma, although some jobs may require postsecondary education, and must complete a training program. Insurance agents also need a license in order to sell insurance. The requirements for a license vary by state, but generally include passing an exam. Some states also require continuing education for insurance agents. Insurance agents typically work for an insurance company, although some may be self-employed.

Insurance Skills

  • Analytical skills
  • Profit and loss analysis
  • Financial analysis
  • Finance
  • Business administration
  • Marketing
  • Risk management
  • Product development
  • Underwriting
  • Claims
  • Sales

Related: Top Insurance Skills: Definition and Examples

How to become an Insurance

There are many different types of insurance, but becoming an insurance agent is a process that is generally similar regardless of the type of insurance you wish to sell. Here are the steps you will need to take to become an insurance agent:

1. Get a license. In order to sell insurance, you must be licensed by the state in which you plan to do business. The requirements for licensure vary from state to state, but generally involve passing an exam and completing a pre-licensing course.

2. Find a job. Once you are licensed, you will need to find a job with an insurance company or broker. Many companies require new agents to undergo training before they can begin selling policies.

3. Build your business. As an insurance agent, your goal will be to sell policies and earn commissions. To be successful, you will need to build a client base by marketing your services and developing relationships with potential customers.

Related: Insurance Resume Example

Related: Insurance Interview Questions (With Example Answers)