MYTHBUSTER: Four myths about the insurance industry

Myth busting envelope graphic.

It’s no secret that many people routinely use words like dull, boring or stagnant to describe the insurance industry. Yet as someone who has a daily front row seat to insurance activity, I can assure you there are a tremendous number of benefits to working in our industry, both personal and professional. Let’s take a look at what people may think versus the reality at MJ and the industry at-large.

Myth #1: Insurance jobs lack purpose and aren’t personally fulfilling.

Insurance agencies are, of course, concerned with profitability, just like any business – it’s how we grow, reward employees and invest in new technology and resources – but if you don’t operate with compassion and concern for your clients, an agency will simply stagnate.

Yes, insurance is one of life’s necessities, and no one loves paying their premiums, but when someone faces a loss and needs to report a claim, we get to prove our worth and return the favor of a client’s trust. We take this trust very seriously, and it is an amazing feeling to be able to help a client recover and be made whole again. We also strive to prevent claims in the first place with our risk management and health and wellness programs. After all, the very best gift we can share is the knowledge needed to avoid a loss altogether. When a job affords you the opportunity to help people in such remarkably concrete ways, it definitely gives you a purpose each day and a sense of fulfillment knowing you’ve made a difference.

Also, MJ is committed to giving back to our community, and this year our associates have contributed over 2,100 volunteer hours to more than 37 organizations.

Myth #2: Insurance work isn’t financially rewarding.

In addition to the emotional reward found with helping clients in times of need, partnering with them to protect their business or family and volunteering for community organizations as shared above, there can also be tremendous financial reward with an insurance career. People often have a one-dimensional view of insurance, that it’s only about selling policies, but we offer a dynamic range of positions just like any other large organization. MJ also offers tremendous training throughout a career, and we have a robust Personal & Professional Development program to support each associate’s job aspirations and advancement.

Myth #3: Insurance work environments are stodgy and uninspiring.

A visit to either MJ office is the quickest way to dispel this myth. Our newly designed spaces in both Indianapolis and Phoenix reflect the energy, enthusiasm and spirit of our associates. Both offices feature upgraded technology and open, collaborative spaces. All associates have the ability to “plug-and-play,” so they can work from wherever they want to, including their home or on the road. Many of our associates also enjoy traveling to meet with clients or attend industry events.

Myth #4: Insurance is repetitive and boring.

You have to be a student of the world, aware of current events and future trends, to provide your clients the best possible recommendations. Think drones, self-driving cars, weather patterns, shared-economy and industry-specific regulations. That makes Insurance fast-paced, because there’s always something new to learn and plenty of opportunity to innovate.

I hope I’ve managed to bust some of the myths you might have had about insurance. I always love to share more details about insurance careers, but particularly on this third week of the fourth annual Insurance Careers Month. If you missed our two previous blogs, you can read about innovation and technology and the workplace culture you’ll find at MJ. Next week, we’ll be discussing some rising stars in insurance and why our industry might make the perfect second career. In the meantime, why not check the career opportunities we have posted today? – we’d love if you’d consider joining our team.