Business Insider: Want a secure job? Bet on insurance

Shortage of agents, claims adjusters, risk managers and underwriters makes insurance industry a wide-open field.


Insurance isn’t the sexiest college major, but savvy students with a bent for business know the numbers are in their favor.

The average age of an insurance agent is 59, according to a recent survey by McKinsey & Co., which expects about one-fourth of those in the industry will retire by the end of 2018.

But the industry isn’t just agents. It will need to replace nearly 72,000 claims adjusters, about 29,000 underwriters, 8,500 software developers and programmers, and nearly 7,000 actuaries over the next seven years, according to the U.S. Bureau of Labor Statistics.

A college freshman who majors in insurance will graduate into a wide open job market.

“There is a huge talent shortage coming in the insurance industry,” said Zach Finn, a Butler University clinical professor who directs its Davey Risk Management and Insurance Program. “And the industry has done a terrible job of selling itself.”

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