Online Insurance Degrees
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The insurance industry encompasses a multitude of sub-fields and has many different job opportunities for interested individuals. This is a fast-moving industry that is projected to grow over the next few years which offers a promising outlook for individuals willing to prepare for entry level work in an industry that some consider to be bureaucratic. Employees have the option to specialize in many different areas, and a variety of degrees can provide acceptable preparation for a career in insurance.
The main goal of insurance is to provide clients with protection against overwhelming expenses arising from unplanned damage to homes, health, autos, and natural disasters. The industry is built upon the premise that paying a relatively small amount each month for the rest of your life provides more valuable or convenient coverage than trying to save up money in anticipation of emergencies.
Individuals working in the insurance sales field typically work for large companies and see clients on a daily basis. During these meetings, they discuss different types of insurance policies and work out a plan that would benefit their client the most. Agents may offer everything from risk management to financial planning and loss prevention, in addition to regular insurance products.
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What are some of the specializations within this degree program?
Individuals working within the insurance industry have options to specialize in selling different types of insurance to clients. Some of these options include life insurance, auto insurance, home owners' insurance, flood insurance, and renters' insurance.
What degree levels are available?
- Associate Degree in Insurance or Business: 2 years to complete
- Bachelor's in Insurance or Business: 4 years to complete
- Series 6 Exam: Students can study as long as necessary and then take the exam on a scheduled date.
- Series 7 Exam: Students can study as long as necessary and then take the exam on a scheduled date.
What are the educational and certification requirements?
Some schools are starting to offer associate or bachelor's degrees in insurance that will provide students with the necessary background to begin working in the insurance industry. The associate degree would take about two years to complete, and the bachelors would take about four years to complete unless sufficient credits transfer. Generally, individuals are only required to have a high school diploma to work in the insurance industry because much of the necessary information is learned through experience.
Individuals who wish to move forward and sell insurance will need to study and take their Series 6 or Series 7 exam to get their license. Anyone who wishes to sell insurance must pass these exams and be certified by the state that they are living in. These exams are administered by the Financial Industry Regulatory Authority (FINRA). There are many different jobs within the insurance industry, and most only require a high school diploma for entry-level work. Some professions within this industry have voluntary certifications that individuals can attain. These certifications demonstrate that these individuals have excelled in their area of work.
Most of these certifications are available within the insurance underwriting industry. Individuals can choose to become certified as a Chartered Property and Casualty Underwriter (CPCU), Associate in Commercial Underwriting (ACU), Chartered Life Underwriter (CLU), Registered Health Underwriter (RHU), and many others. (BLS)
What kinds of classes will I be expected to take?
- Information Management Procedures: Insurance agents are often required to manage and handle a large amount of personnel information as part of their work. This class covers basic information management procedures to prepare graduates to handle a large amount of information in a organized manor.
- Insurance Marketing: This class covers marketing tips and procedures for insurance agents. Students can expect to work on public outreach and promotional marketing methods as they applying to the insurance industry.
- Insurance Administration: This class applies the basic concepts of public administration to the specific field of insurance. Students learn how to effectively manage insurance agents and use administration techniques to improve the organizational structure of an insurance agency or department.
- Customer Relations: Much of the work of an insurance agent involves interacting with customers to provide high-quality services. This class covers client relations techniques, such as ways to effectively and positively deal with disgruntled customers.
- Health Insurance: Most students will take courses on specific types of insurance to familiarize themselves with the different aspects of the insurance world. This class covers the specifics of health insurance.
If I pursue this program online, will I be required to complete any on-site training?
No, this program can generally be completed entirely online.
What are some other degrees that are related to this program?
- Marketing: Marketing involves the deliberate targeting of promotional outreach in order to sell a product of service. Within marketing, employees are tasked with creating advertising campaigns, managing public outreach events, writing press briefings and coordinating with media outlets, and other similar tasks.
- Human Resources: Human resources graduates work to promote the hiring and managing of personnel within a given organization. Human resources departments are generally responsible for managing application procedures, training new employees, overseeing payroll and benefits packages, and otherwise supporting personnel needs at any organization.
- Information Systems: Information systems personnel are responsible for overseeing the information technology employed by a company. Graduates are responsible for combining management skills with computer technology skills to deliver high-quality, reliable equipment and maintenance of information technology systems within a company.
