Insurance sector is one of the fastest growing industries in the country which came into existence with the establishment of Life Insurance Corporation (LIC) in the year 1956. At present, the insurance industries have marked a remarkable growth which has added more than 4.1% of the GDP.

Job profiles in Insurance

• Actuary
• Administrative Officer
• Asset Manager
• Assistant Administrative Officer
• Business Analyst
• Business Manager
• Chief Executive Officer
• Composite Agent
• Customer Service Executive
• Development Officer
• Direct Sales Executive
• Financial Service Executive
• General Manager
• Health Insurance Agent
• Individual Health Insurance Representative
• Insurance Adjuster
• Insurance Administrator
• Insurance Agent
• Insurance Broker
• Insurance Claims Clerk
• Insurance Commissioner
• Insurance Company Representative
• Insurance Consultant
• Insurance Executive
• Insurance Group Representative
• Insurance Investigator
• Insurance Manager
• Insurance Producer
• Life Insurance Agent
• Medical Insurance Representative
• Sales Representative
• Tele Caller
• Travel Insurance Agent
• Underwriter

Career opportunities in public sector

There are a few public sector insurance companies in the country providing the aspirants with various job openings in the insurance sector. They can grab these jobs by writing various governmental test conducted UPSC, SSC, PSC, etc. The list of public sector insurance companies is listed below.

• Life Insurance Corporation of India (LIC)
• General Insurance Corporation of India (GIC)
• The Oriental Insurance Company Limited
• The New India Assurance Company Limited
• National Insurance Company Limited
• United India Insurance Company Limited

Career opportunities in private sector

Apart from the public sector organizations, there are many insurance companies in the private sector also. The private sector insurance companies in the country are mentioned below.

• Bajaj Allianz General Insurance
• ICICI Prudential Life Insurance
• ING Vysya Life Insurance
• Max New York Life Insurance
• Bharti AXA Life Insurance
• Aviva Life Insurance
• Kotak Mahindra Old Mutual Life Insurance Limited
• Tata AIG Life Insurance Company Ltd
• Metlife India Insurance Company Ltd
• Reliance General Insurance Company Limited
• Sahara India Life Insurance
• Future Generali Life Insurance
• IDBI Fortis Life Insurance
• Canara HSBC Oriental Bank of Commerce Life Insurance
• AEGON Religare Life Insurance
• DLF Pramerica Life Insurance
• Star Union Dai-ichi Life Insurance
• Apollo DKV Insurance
• Cholamandalam MS General Insurance
• HDFC Ergo General Insurance Company
• ICICI Lombard General Insurance
• IFFCO Tokio General Insurance
• National Insurance Company Ltd
• New India Assurance
• Oriental Insurance Company
• Royal Sundaram Alliance Insurance
• Shriram General Insurance Company Limited
• United India Insurance
• Universal Sompo General Insurance Co. Ltd
• Apollo Munich Health Insurance
• Bharti AXA General Insurance
• Export Credit Guarantee Corporation of India
• IDBI Federal Life Insurance
• L&T General Insurance
• Max Bupa Health Insurance
• Raheja QBE General Insurance Company Ltd
• SBI General Insurance
• Star Health Insurance

Apart from these insurance companies, the aspirants can also work in various other industries such as Health Departments, Banks, Financial Institutions, Credit Companies, Real Estate, and so on.

Insurance Opportunities abroad

There are many insurance companies in various foreign countries.  The candidates with qualification and experience could easily secure a job in these companies. The salary in these firms will also be much higher than that in India.

Salary range

The pay scale for the candidates in public sector firms may vary as per the government rules depending on their position. Along with the monthly salary, they will also be granted with various allowances. A graduate in insurance sector could earn an initial monthly salary ranging from Rs. 10,000/- to Rs. 15,000/-. Actuaries are one of the highly paid people in the insurance industry. The entry salary in Actuaries is expected to be around Rs. 8 Lakhs per annum. Underwriters can also earn about Rs. 6 Lakhs per annum. With experience, the aspirants could earn a seven digit salary per annum.