A Recent Graduate’s Take on Their First Year in the Insurance Industry

Graduating college can be stressful, exciting and filled with uncertainty. For many graduates, it is the first time in their life that school is not the next step. Instead, they must contemplate what career they’d like to pursue. There are many factors to consider when career planning: pay, benefits, stability, location, culture, type of work, etc. Accounting for all these variables can be overwhelming. Where does the insurance industry fit into this complicated process?

Why Insurance?

Insurance is unique in its stability and job security. It has a reputation for being mostly recession-proof, as it is necessary whether the economy is good or bad. Because insurance is nearly omnipresent, job seekers can find possible employment opportunities anywhere. The industry's strength also promotes competitive salaries and benefits, especially in sales, underwriting, management and actuarial work. The insurance landscape can be overwhelming due to its complex terminology, acronyms, and numerous industry concepts. Additionally, insurance involves many players and layers, requiring a solid understanding of the structure and roles within the industry. These roles require various skills, attracting people with well-rounded competencies like math, communication, critical thinking and logic. Insurance is also modernizing in many exciting ways, particularly in technology like artificial intelligence and data analytics. For some younger professionals, this is a great opportunity to be at the forefront of modern business.

If you ask the average college student their opinion on insurance a variety of answers would be given. They may say it seems complicated, dull, expensive but ultimately necessary. Unless someone has experience in the industry, most people’s perception of insurance is based on their personal coverage, which is centered around paying premiums or filing claims. Neither of those is the most enjoyable experience. In general, insurance, on the surface, does not come off as an exciting career. How does someone go from being a student and consumer of insurance to choosing a career as an insurance professional?

Exposure to the many different facets of the industry helps change the perspective on what insurance is and can be. Learning insurance as a concept in an academic setting is one thing; seeing it in practice is entirely different. Many new graduates considering a career in insurance expect it to be purely analytical. While there is a fair amount of data to look through or contractual language to read, the ability to communicate and explain information is an invaluable asset. The more you learn about insurance, the more you realize how diverse it is. There are countless lines of business, each demanding a wide array of talent. If one path feels wrong, a young professional can switch directions without forfeiting all the skills they’ve acquired.

First Impressions

When entering the insurance field, early expectations are quickly tested against reality. The first few weeks on the job often revolve around onboarding and training. For many new hires, this time is filled with a flood of information, covering everything from company processes to industry fundamentals. While college classes provide a strong foundation, the intricacies of insurance policies, coverage terms and client relationships quickly reveal the gaps between academic learning and working knowledge. However, the structured training programs and supportive mentors we experienced in our first year allow graduates to gain practical insights at a manageable pace.

One of the biggest surprises for us was the company culture. Many expect insurance companies to have a formal, hierarchical environment, but we experienced working at a company that prides itself on having a flat organization. It's not uncommon for recent graduates to work alongside senior-level professionals or even interact directly with executive leadership, fostering a culture of collaboration. This access provides an invaluable learning opportunity early on, where communication skills become just as important as technical expertise.

A major realization for recent graduates is that insurance isn’t just about analytical work; relationship-building also plays a critical role. Whether it's working within a team or interacting with clients and brokers, success in the field requires strong interpersonal communication alongside analytical problem-solving. Learning to navigate relationships internally and externally is one of the most important skills a new insurance professional can focus on.

Lessons Learned

Reflecting on their first year in the insurance industry, a recent graduate would likely point to a few key takeaways. One of the most important lessons is that insurance is far more dynamic and rewarding than many initially expect it to be. From working with diverse teams to understanding complex risks and coverage solutions, the industry offers a depth of experience that goes beyond textbook knowledge.

For those considering a career in insurance, the best advice is to remain open-minded and curious. The learning curve can be steep, but the industry offers long-term career stability, with plenty of room for growth and specialization. Graduates who are adaptable, eager to learn and willing to build strong professional relationships will thrive in this field.

As new hires gain confidence in their roles, the next steps in their careers may involve seeking out specialized areas within insurance – whether in underwriting, risk management or even new fields like insurtech. The industry’s evolution offers many paths for advancement, making the future in insurance as promising as it is challenging.