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6 insurance industry job myths, busted

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Terrorist attacks, natural disasters and globalisation have all transformed the insurance industry over the past 10 years, providing huge challenges for those with the skills to take them on.

The number of available jobs in insurance is endless and the variety offered by the industry is huge - so it’s time to beat down the myths and common misconceptions that you might have about it.

1: ‘I won’t actually help people!’

Insurance companies can cover anything from the hair on a person’s head to adventures travelling the globe - and if anything were to go wrong, a paid insurance company will be sure to compensate. Essentially, the insurance sector allows people to take risks and protects them should something go unexpectedly wrong.

Insurance companies are always reacting to the world we live in too - from risks associated with cybercrime to scientific discoveries to helping local communities grow. They’re here to protect.

The 9/11 attacks and the sinking of the Titanic wewre both tragic events that led insurance claims to be made with Lloyd’s of London. Their syndicates paid out billions of dollars for multi-million pound claims to support both businesses and people affected in the wake of these world-changing events.

2: ‘It is at the technological forefront!’

Insurance industries might already seem complex, but, complex insurance policies are being developed to cater to all the technological developments that are happening every day. Without the insurance being at the forefront for all new technology, there’d be no protection over them - so of course they're at the tech forefront!

3: ‘It's all numbers, insurance companies won’t take my degree!’

From theft to misadventure to tragic catastrophes, there’s a load of variety available in the insurance industry.

Not only this but there’s a large spread of jobs available in working in insurance, too. Insurance companies hire all different kinds of talent to work successfully as a business and for a sound understanding across all ranges: networkers, communicators, analysts and strategists, to list a few. Jobs are available in areas as diverse as marketing, finance, HR and IT.

Lloyd's of London, the global market in specialist insurance, offers a graduate scheme for those with degrees in everything from maths to English to philosophy to history to geography to science. All you need to apply for the scheme is a 2:2. Variety, where? Everywhere!

4: ‘It doesn't help growth!’

Emerging economies rely on insurance to grow, and individuals at insurance companies are there to nurture and support the journey. Who else would be there to protect your home against a burst of civil unrest?

5: ‘They don’t do anything to help the environment!’

Insurance industries adapt to climate change too, and are fully aware of the earth’s condition. Local communities around the world are supported through insurance programmes as they go beyond financial covering. Areas and people who are affected by natural disasters are given additional aid - Lloyd's Charities Trust support RedR, the international disaster relief charity and train aid workers to prepare and respond to global emergencies.

6: ‘It’s just office work!’

Wrong. Insurance companies are usually global, meaning working in insurance can take you anywhere. As a global sector, the possibilities for travel with the job are endless. Lloyds graduate schemes offers rotation through different companies so it's not just sat at a desk all day, there are even a bunch of societies to join.

Does a job in the insurance industry intrigue you? Find out about graduate careers at Lloyd's of London here.

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