Slides from Career Institute

Career Institute

August 9-11, 2010

Columbus, Ohio

INFORM+INSPIRE

The Griffith Insurance Education Foundation

Griffith Insurance Education Foundation

Presented by the Katie School of Insurance

Griffith Career Institute Goals

Network and Gain Ideas for Communicating Careers to High School Students

Gain Understanding of Career Opportunities That Exist in Insurance Industry

Gain Career Information Resources to Take Back to School and Use


Who is in the audience with you?

Survey Shared Challenges Shared Solutions


Employment Facts About the Insurance Industry in Ohio



Job Availability and Advancement Potential in RMI

High exposure to aging workforce & retirees (See graph below) Workers 55+ have increased 74% in Insurance and Risk

Management in the past 10 years compared to a 45% increase in overall workforce

By 2018, the projected number of workers nearing retirement in industry will be 25%

04/08/2023 The Griffith Insurance Education Foundation

Category 1: Jobs Unique to Insurance

Actuarial Sciences Claims Risk Management Underwriting Reinsurance Insurance Agent and Broker Personal Financial Planner



1. Biologist 2. Actuary 3. Financial planner 4. Computer-systems analyst 5. Accountant 6. Software engineer 7. Meteorologist 8. Paralegal assistant 9. Statistician 10.Astronomer

* Ranks 250 occupations on the basis of six key criteria: environment, income, employment outlook, physical demands, security, and stress.

U.S News and World Report: The Ten Best Jobs*

Comparative Competitive Wages






Opportunities for Professional Designations & Advancement

04/08/2023 The Griffith Insurance Education Foundation

http://upload.wikimedia.org/wikipedia/en/6/67/SOASeal.jpg

Category 2: “General” Jobs Working in Insurance Industry

IT/Systems Finance/Accounting Legal Marketing Communications Training and Development


Insurance Industry SectorsHealth Insurers Top 10

Life Insurers Top 10 Property/Casualty Top 10

1. United Health Group

1. Metropolitan Group 1. State Farm Group

2. Wellpoint 2. AIG 2. AIG

3. Kaiser Foundation Grp

3. Prudential 3. Zurich Insurance Group

4. Aetna 4. ING 4. Allstate Insurance Grp

5. Humana 5. Aegon 5. Liberty Mutual Ins. Grp

6. HCSC Group 6. John Hancock Group 6. Travelers Ins. Group

7. American Family Grp

7. New York Life Group 7. Berkshire Hathaway

8. Highmark Group 8. Principal 8. Nationwide

9. Coventry Group 9. Hartford Fire and Casualty

9. Progressive

10. Blue Cross Group

10. Lincoln National 10. Hartford Fire and Cas.

Total Premiums for 2008



Top 10: $286.6 Billion

Top 10 Group: $332.4Billion

Top 10 Group: $241.6 B

$2 Trillion Spent on health care (Public 45% and Private 34%)

Source: Insurance Information Institute III.org

04/08/2023The Griffith Insurance Education Foundation

Property/Casualty Insurance Sector

Personal LinesExamples

Commercial LinesExamples

Property Casualty Property CasualtyPersonal Homes

Liability at Homes

Business Buildings

Liability of businesses

Contents of home

Equipment and Inventory

Product Liability

Auto Physical Damage

Auto Liability Commercial Auto Physical Damage

Commercial Auto Liability

Workers Compensation

Professional Liability



1 Building & contents – Property coverage 2 Business interruption – Gross earnings 3 Business interruption – Extra expense 4 Business interruption – Loss of rents 5 Contingent business interruption – Supplier 6 Contingent business interruption – Recipient 7 Contingent business interruption – Leader 8 Plate glass coverage 9 Aircraft hull10 Aircraft liability11 Workers compensation12 Automobile insurance – Comprehensive13 General liability14 Umbrella15 Catastrophe reinsurance16 Finite risk insurance17 Fine arts floater – Inland Marine18 Jewelry floater – Inland Marine19 Group life20 Individual life21 Group health22 Individual health23 Short term disability24 Long term disability25 Homeowners insurance – Unscheduled property26 Clash insurance27 Boiler & Machinery physical damage28 Loss of power29 Transmission and distribution lines30 Event cancellation31 Retrocessional coverage

Numerous Insurance Products

The adjacent list shows the types of insurance coverages paid for resulting from the World Trade Center Loss

Why Insurance Industry May Appeal to Gen Y


2010 McKinsey Survey of RMI alumni 83% agree that industry offers good work/life

balance as well as a flexible working environment 93% believe industry professionals provide

intellectual challenges 93% agree that industry provides significant value

to society

James R. Jones, CPCU

Director – Katie School of Insurance

[email protected]

(309) 438-7754

INFORM+INSPIRE


Questions About Careers in Insurance or Griffith Insurance Education Foundation?

Jason Terrell

Director – Insurance Education Institutes

[email protected]

(614) 880-9870

Documents

Slides from Career Institute