Insurance underwriters are in high demand in Canada, and many companies are looking to hire and sponsor the right candidates. If you have experience evaluating insurance applications and determining coverage amounts and premium rates, this could be an excellent career path for you.
Underwriters review insurance applications for life, health, home, auto, and other types of insurance to determine whether applications should be accepted or rejected and set appropriate premium rates. The job typically requires a university degree, preferably in business, finance, statistics, or a related field. Strong analytical, critical thinking and communication skills are essential.
As an underwriter, your duties would include:
- Reviewing insurance applications and risk data to determine eligibility and premium rates
- Analyzing medical records, financial statements, and actuarial data
- Interviewing applicants and conducting further research as needed
- Calculating premiums based on the applicant’s risk profile
- Explaining the reasons for rejecting an application or setting higher premium rates
- Keeping records of all policies issued and premium rates charged
- Staying up-to-date with insurance regulations and industry practices
Several major insurance companies in Canada regularly hire and sponsor underwriters, including Sun Life Financial, Manulife, SSQ, and Desjardins. Salaries for underwriters in Canada range from $60,000 to $100,000 per year for those with 5-10 years of experience. Many companies also offer benefits like health insurance, retirement plans, paid time off, and career growth opportunities.
If you have the right skills and experience, now is an excellent time to pursue insurance underwriter jobs in Canada. Do some research on companies you’re interested in, update your resume, and start applying! With the shortage of qualified candidates, companies are eager to hire and support the immigration of top underwriting talent.
Insurance Sales Agent Jobs in Canada 2023
Insurance sales agents help clients choose and enroll in insurance policies that suit their needs. If you’re looking for a career that provides job security, insurance sales could be a great choice. Many insurance companies in Canada are hiring sales agents and offer sponsorship for qualified candidates.
To land one of these roles, you’ll typically need at least a high school diploma and insurance licensing for the specific products you’ll be selling. – Life insurance agents sell life insurance and annuities, while property and casualty agents sell auto, home, and business insurance. Health insurance agents help clients choose health plans.
The job involves a lot of customer interaction, so strong communication and interpersonal skills are essential. You’ll meet with clients, evaluate their current coverage and financial situations, and recommend plans to meet their needs. You’ll have to stay up-to-date with various insurance products and options to properly advise your clients.
While the work can be rewarding, it may also involve irregular hours and frequent travel to meet clients. However, many sales agents enjoy the flexibility and potential for high earnings from commissions. According to recent estimates, insurance sales agents in Canada earn an average salary of $55,000 per year. Experienced agents, especially those with specialized knowledge, can make significantly more.
If you’re a motivated self-starter looking for a career where you can help others, insurance sales could be perfect for you. Do some research on the licensing requirements for your province and start networking. With the right skills and perseverance, you’ll be helping clients choose policies in no time and building a successful career as an insurance sales agent.
Claims Adjuster Jobs in Canada 2023
Education and Licensing
To become a claims adjuster in Canada, you’ll typically need at least a high school diploma or equivalent. Many adjusters gain on-the-job experience, while others complete a degree or certificate program in insurance, business administration, or a related field. Certain provinces require adjusters to be licensed. In Ontario, for example, you must complete an accredited training program and pass an exam to become licensed.
Daily Responsibilities
As a claims adjuster, your daily work will focus on investigating insurance claims and determining the legitimacy and value of claims. You’ll interview claimants, witnesses, police, and physicians to get details on the events surrounding the claim. You’ll review police reports, medical records, repair estimates, and other documents to verify facts. Then you’ll determine whether the claim should be paid, denied, or paid in part. If paid, you’ll calculate the fair settlement amount.
Key Skills
Strong skills in areas like communication, critical thinking, and customer service will serve you well as a claims adjuster. You’ll need to communicate clearly when interviewing people and explaining your decisions. Critical thinking allows you to logically and objectively evaluate evidence to determine the validity of claims. And customer service skills help you interact with claimants professionally and courteously. Other useful skills include:
- Attention to detail: Carefully reviewing documents and accounts for accuracy.
- Analytical ability: Assessing information from multiple sources to make sound judgments.
- Negotiation: Determining fair settlements and explaining them to claimants.
- Computer proficiency: Using software to manage records, documents, and claims processing.
Career Outlook
The job market for claims adjusters in Canada is quite strong. According to the Government of Canada, employment of claims adjusters and property valuators is projected to grow 8% from 2019 to 2028, adding 3,800 new jobs. Adjusters willing to relocate to areas experiencing natural disasters like floods, hurricanes or wildfires will find the most opportunities. With experience, you can advance to roles like senior adjuster or branch manager.
Conclusion
The insurance industry can be a rewarding long-term career, with many options for professional growth over time. If you have a keen eye for details, excel at critical thinking, and want to help people through difficult situations, consider applying for claims adjuster jobs and sponsorship programs in Canada. The skills and experience you gain will provide stability for years to come.