Insurance Jobs in Canada

Insurance Jobs Overview

A career in the insurance industry is diverse, dynamic, and rewarding, with countless opportunities for professional development. Different types of insurance are almost always needed by individuals and businesses, making the industry extremely sustainable. Professionals working in insurance jobs play a vital role in society, helping people in some of the most challenging times of their lives. If you are service-driven, excel at problem-solving, and enjoy helping others, a career in the insurance sector could be the ideal fit for you.

No matter your interests or ambitions, the insurance industry can offer you a world of possibilities. Whether you are looking to help individual families, develop new laws and policies or work in a high-level corporate environment, there is likely a role to suit your needs. Property and casual insurance are the largest contributors to the Canadian financial sector, followed by health and life insurance. This presents a wide variety of job prospects and career flexibility.

While there is a myriad of jobs in this sector, here are some key roles in the insurance industry that may appeal to you:

• insurance broker/sales agent – in this role, you'll help consumers choose coverage to protect their homes, businesses, cars, and belongings. You'll assess risks, manage transactions and service portfolios.
• appraiser – you'll inspect the insured property after a claim is made, estimate repairs and replacement costs, and report to the loss adjuster.
• actuary – this is an analytical role where you'll use math to calculate premiums, analyze insurance rates, and forecast the possible impact of catastrophes.
• loss adjuster – you'll help people collect entitled compensation for a loss, investigate insurance claims, arrange solutions such as car rentals and medical treatment, and negotiate payment and settlement.
• risk manager – in this role, you'll devise a risk management plan to determine financial, security, and safety risks and implement preventative measures to minimize costs and damage in case of a loss.
• underwriter – this role focuses on accounting and analysis. You'll assess risks, analyze premiums, and determine if an individual or business should be insured.

For more roles related to business operations jobs, you can also explore:

• logistics manager jobs
• corporate recruiter jobs
• human resources jobs

Education and Skills for Insurance Jobs

The education required for roles in this sector will vary significantly from job to job. For example, to become an insurance loss adjuster or insurance agent, you may not need a bachelor's degree, but you will need a secondary school education. Many employers will offer training programs for entry-level positions.

If you want to apply for a more technical role such as underwriter or actuary, you'll need a bachelor's degree in business, finance, statistics, accounting, or mathematics.

Insurance jobs, including sales agent, broker, and independent adjuster, will require you to have a license. Each province and territory has its own insurance regulator, so you'll have to research this before applying for jobs.

To better understand the industry, elevate your status and increase your earning potential, you could apply for designations such as the Chartered Insurance Professional (CIP) or the Canadian Risk Management (CRM).

Essential skills you'll need to work in insurance include:

• customer service
• analytical and critical thinking
• problem-solving
• attention to detail
• negotiation
• computer and math literacy
• strong communication

Update Your Insurance Job Resume

Before applying for insurance jobs, ensure that your resume has been thoroughly reviewed and updated. It's a good idea to customize your resume to fit the job description, adding relatable keywords that will get you noticed. Take a look at our resume tips and advice to help you stand out from the competition.

Read up on the company you'll be working for and include relevant experience and achievements that match what the employer is looking for. You should also include a cover letter with every application, explaining why you will make an excellent fit for the job. For more advice, read our tips on how to write a winning cover letter.

Preparing for Your Insurance Job Interview

Knowing what questions to expect in your interview can help you prepare and show up feeling relaxed. The hiring manager will typically ask you some situational-based questions that focus on how you react and handle real-life situations. Your answers will enable them to learn more about your problem-solving and communication skills.

Practice your responses to common interview questions and research the potential employer to learn about their mission and culture. You may have a virtual interview for this position, so if you're not comfortable on camera, you can improve your skills and calm your nerves by preparing for a virtual job interview.

How Much Can You Earn from an Insurance Job?

How much you can earn varies depending on the company and your position. Your experience, education, and skills will also determine your compensation. In Ontario, an insurance sales agent can earn a median salary of $60,134, whereas a claims adjuster can make a median salary of $59,508. In British Columbia, an insurance underwriter can earn a median salary of $57,686 compared to Quebec, where the same role pays a median salary of $58,151. Use our salary calculator to determine what you can expect to earn in your desired province.

Begin Your Search for Insurance Jobs

Are you ready to find a flexible career in insurance? Start your search today by creating your Monster profile. You'll be able to apply for jobs, upload your resume, receive custom job notifications, and gain access to helpful articles. It's also a great way to help potential recruiters connect with you online and get you one step closer to landing your dream job.