Did you know that February is Insurance Careers Month? The month of February has been dedicated as the month to inspire young professionals to choose insurance as a career that is stable, rewarding and limitless. Insurers are putting plans in place to respond to broader, fundamental employment shifts as more professionals join the open talent economy – a combination of full and part-time workers, short-term contractors, and freelancers. Nearly 6 million people, 3.8 percent of workers, held contingent jobs in the U.S. in May 2018. Another 10.6 million held other alternative work arrangements, including independent contractors, temp help workers, and on-call staff. Following are ways in which alternative staffing arrangements are helping to shape the insurance industry:
Insurance companies are looking for workers with technical skills. Technology jobs rank 5th on the list of in-demand insurance jobs. Talented technology professionals find IT contract jobs very rewarding. Some prefer project work over full-time employment because of the flexibility. Others want to gain new technical skills while trying out a different career path. Others just prefer diverse work arrangements.
Show Me the Money! Entry level jobs in the insurance industry typically start at $50,552, which is higher than the average starting salary for a college graduate. Hiring on contract gives you the opportunity to ‘try before you buy’. You do not have to commit to paying an annual salary plus benefits until you are ready.
According to IBM, the number of data analyst jobs is expected to skyrocket by 2020, increasing almost 30 percent to 70,000. Data analysts are especially important in the finance and insurance industries, where they account for 20 percent of all jobs. Just like technical workers, many insurance analysts prefer to work on contract.