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We asked Jamie Hawan from Forestry Careers Ireland to give some advice for people considering this job:

Jamie Hawan

Harvesting Manager

Forestry Careers Ireland

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Jamie Hawan
What advice would you give to someone considering this job? Be prepared to work hard and donít single track yourself into one aspect of forestry. There are many areas to the industry with many opportunities. I would consider what you want to get out of a college course and look closely at what experience a college will give you. Be prepared to move or relocate and if you are successful in getting a job grasp every opportunity. Whether that is being involved in a project or if itís being involved in a feedback group, get involved.
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Organisation Profile - Insurance



 

Insurance is about delivering peace of mind.

Being part of the insurance industry means you're there to protect people, communities and businesses when they are at their most vulnerable.

Insurance is about delivering peace of mind.

Being part of the insurance industry means you're there to protect people, communities and businesses when they are at their most vulnerable.

Career Opportunities... header image
What are the main occupations in this sector?


A diverse range of occupations exist within the insurance sector, making it an exciting industry, providing a host of interesting and diverse career prospects.

Many of the occupations in the insurance sector involve working in customer or client facing roles, across underwriting, claims, sales and customer services

Underwriter 
Underwriters evaluate risks and decide whether to provide insurance cover for these risks and at what price (premium). This is a fundamental role for any insurance company as it has a direct impact on the profitability of the company. 

Claims Handler 
Claims handlers investigate insurance claims to assess the extent and validity of the claims and to determine the appropriate amount due to the customer. 

In addition to these, there are a number of specialised roles that exist in the industry such as:

Insurance Broker
Brokers are independent insurance professionals who act as a link between insurance companies and their customers, the insurance buyer. Brokers assess their customers’ insurance requirements and match this with the insurance company who best fits the customer’s needs and budget

Actuary
Actuaries use statistical and mathematical techniques to study past events and predict future outcomes. This allows them to calculate premiums, offer pension advice or offer guidance on whether or not a company has sufficient assets to meet its future liabilities. 

Loss Adjustor
Loss adjustors are independently appointed claims experts who investigate complex or larger claims on behalf of the insurer. Loss adjustors are expert in many fields and have a thorough knowledge of insurance as well as the area in which they work and often advise both the insurance company and policy-holder on repair and replacement techniques.

Loss Assessor
A loss assessor is appointed by the insured to compile and negotiate the claim on their behalf.

Reinsurance Specialists
Reinsurance companies essentially insure the insurers. Reinsurance specialists provide specialist services to reinsurers in areas such as underwriting/claims/broking. Due to the potential size of these risks it is often transacted on a global basis.

There are also many opportunities within the insurance industry for individuals working in the following areas:

• Finance
• Marketing
• Information Technology
• Human Resources
• Legal
Risk
• Compliance
• Audit
• Business Development
• Public Relations

Find out more about career opportunities in the Insurance Industry here.

 

What types of employment contracts are there?


Within insurance, the most common form of employment contract is a permanent, full time position, although in recent years there have been also been a number of temporary contracts on offer at all levels within organisations.

 

What are the typical earnings of these occupations?


Insurance is an industry with plenty of opportunities for career development and long-term earning potential.

Insurance Role Salary Range
Claims Handler €30k - €45k
Commercial Underwriter (1-5 years' experience) €40k - €55k
Reinsurance Underwriting Support €35k - €65k
Trainee Actuary €35k - €45k
Risk Manager €70k - €90k
DataScientist €50k - €75k


Entry level
A typical starting salary for a new entrant is usually in the €18-26k range, with third level graduates, and those with a foreign language, receiving a higher base in the region of €22-30k. Some insurance sales representatives may also earn commission on top of their basic salary.

Mid-level
The average salaries in insurance tend to be in the €45-60k range which compares favourably with a lot of other sectors.
Overall insurance employees tend to enjoy a good benefits package which may include:

• performance related bonuses
• defined contribution pension
• further education support
• car / car allowance (if required for the role)
• health insurance
• subsidised mortgages
• gyms memberships
• sports and social clubs.

In certain companies, there are other perks such as lunch allowances, flexitime and work from home arrangements, although these are usually provided for longer serving or permanent employees.

Senior executive level
Depending on the size of the company and the level of responsibility involved, C level employees (CEO, CFO, etc.) can earn anything between €150-250k.

 

How do you get a job in this sector?


Getting into Insurance 

There are many ways of securing a job within the insurance sector.

For many it's their first job out of school or college and they may have responded to an advert or there may have been a recruitment presentation given at their university by an employer.  The insurance sector is a great alternative to third level education for school leavers. Many insurance companies recruit school leavers and train them in-house, with plenty of opportunities for further education and up-skilling available.

Entry level roles involve handling queries and requests from customers and sales staff, administrating new and existing customers business and helping to settle claims on policies. Typically conventional channels of advertising are used e.g. company website, newspaper, trade magazine or via a jobs board (www.irishjobs.ie; www.jobs.ie; www.insurancejobs.ie; and www.recruitireland.ie) 

There are also several recruitment firms specialising in the insurance sector who will advertise on their own company websites and jobs boards.

Vacancies are often promoted via Facebook, Twitter and LinkedIn – the latter is the default choice for many insurance professionals seeking a career move.

While the required skillset varies depending on the role, some of the key skills that insurance employers look for include:

• Excellent communication skills, both written and verbal
• Organisational skills
• A problem-solving mentality
• Eye for detail
• IT proficiency, in particular with Microsoft Office
• Strong customer focus.

It is important to demonstrate how you possess some or all of these skills on an insurance job application and that you tailor your CV to the particular role for which you are applying.

An important consideration for anyone pursuing a role in insurance is the requirement for those advising insurance customers to be appropriately qualified. This involves the completion of professional qualifications and provides individuals working in the sector with the opportunity to develop their knowledge at the same time as gaining experience working in the sector.

New Insurance Practitioner Apprenticeship

Be the first to hear about the Insurance Practitioner Apprenticeship 2017 - click here to register your interest.

In the past the insurance sector had a tradition of hiring school-leavers into apprenticeship roles. Many of the industry’s leaders started out as apprentices, undertaking professional qualifications as they worked their way up through the ranks. This tradition faded with the increasing popularity of attending university over the last 15 years, although the graduates who enter the industry still undertake professional qualifications on top of their college degrees, as in other industries – a source of frustration for many. The new Insurance Practitioner Apprenticeship, will provide a solution to these issues.

School leavers who embark on the professional Insurance Practitioner Apprenticeship Scheme will get their foot on the career ladder earlier than most graduates, while still earning a level 8 qualification and a salary. Insurance Practitioner Apprentices will become part of a pool of talent from which organisations can recruit when looking for people who want to create a strong career in the insurance industry and who have the qualifications and employability skills to do so.

Be first to hear about the Insurance Practitioner Apprenticeship - Click here to see what companies are currently recruiting.

The BA (Hons) Insurance Practitioner Apprenticeship, a level 8 ‘earn and learn’ degree delivered by The Insurance Institute and IT Sligo, which combines academic qualifications with practical on-the-job learning.

Find out more about career opportunities in the Insurance Industry here.

 


Education and Training... header image
What qualifications are required?


The typical entry requirements to the insurance sector depend on the role. New starters are generally at a minimum school leavers with their Leaving Certificate, or college graduates from various fields within business studies, certificate through to masters level.

The insurance sector is highly regulated by the Central Bank of Ireland and there are systems in place to ensure that those advising insurance customers are fully qualified, competent and confident to do so.

As a result, insurance professionals working in consumer-facing roles are required to complete professional qualifications to ensure they are able to provide expert advice to insurance customers. Companies generally provide support to these individuals together with providing employees with internal training on areas such as product knowledge and in-house systems.

Undergraduate degree programmes

The University of Limerick's Bachelor of Business Studies with Risk Management and the Bachelor of International Insurance and European Studies are highly recognised insurance-specific qualifications within the industry. These qualifications, among others, may also provide exemptions from some of the professional insurance exams. 

There are a number of universities offering actuarial based degree courses, which typically provide exemptions from the professional actuarial exams:

• University College Dublin - Actuarial and Financial Studies 
• Dublin City University - Actuarial Mathematics 
• University College Cork - Mathematical Sciences 
• National University of Ireland, Galway - Financial Mathematics & Economics 
• University of Limerick - Financial Mathematics

Those interested in studying in Northern Ireland could explore:

Queen’s University Belfast - Actuarial Science & Risk Management 

Professional qualifications 

As an integral part of the financial services industry in Ireland, the insurance industry is regulated by the Central Bank of Ireland. Individuals interacting and advising the general public are legally obliged to be suitably qualified by means of professional qualifications and designations recognised by the Central Bank, and to keep their knowledge up to date through Continuing Professional Development (CPD).

Professional Certificate in Insurance (APA)

This is the entry level qualification and the minimum requirement expected in the industry.

The entry level Accredited Product Adviser (APA) is a specialist designation that meets the requirements of the Central Bank of Ireland's Minimum Competency Code and allows new entrants to gain their regulatory licence. The products covered in the courses leading to APA designations are varied and include life assurance, pensions, private health insurance, personal and commercial general insurance. 

Some of the APA designations are also stepping stones towards the QFA. Those interested in pursuing the actuarial route typically complete their professional exams with the Institute and Faculty of Actuaries, which is based in the UK.

Professional Diploma in Insurance (CIP)

The industry norm is then to progress to become fully qualified either in the general insurance market through the Professional Diploma in Insurance (CIP) with The Insurance Institute of Ireland or across a broad spectrum of financial services products through the Professional Diploma in Financial Advice leading to the Qualified Financial Adviser (QFA) with LIA. 

BA (Hons)' in Insurance Practice - Apprenticeship This is the degree you’ll earn if you take part in the Insurance Practitioner Apprenticeship programme. It’s delivered online through IT Sligo and The Insurance Institute and is a combination of academic study and on-the-job learning.

Find out more about qualifications for the insurance industry here.

New Insurance Practitioner Apprenticeship

Download PowerPoint here. 

School leavers who embark on the professional Insurance Practitioner Apprenticeship will get their foot on the career ladder earlier than most graduates, while still earning a level 8 qualification and a salary.

Insurance Practitioner Apprentices will become part of a pool of talent from which organisations can recruit when looking for people who want to create a strong career in the insurance industry and who have the qualifications and employability skills to do so.

The BA (Hons) Insurance Practitioner Apprenticeship, a level 8 ‘earn and learn’ degree delivered by The Insurance Institute and IT Sligo, which combines academic qualifications with practical on-the-job learning.

Find out more about career opportunities in the Insurance Industry here.

LIA designations for Financial Services

More and more employers in financial services are insisting on professional qualifications before considering a candidate for a role, while others set a time limit on reaching these qualifications within the early months of their employment. This is where LIA can help.

The designations awarded through the successful completion of our courses allow people take their first step on the work ladder and progress in all manner of roles within the Financial Services industry.

The LIA designations which can help school-leavers gain employment are:

Accredited Product Adviser (APA) designations

Considered the launching pad to a career in financial services, these designations satisfy the Central Bank as well as employers and allow their holders to advise in a specific area of financial services. Most APAs can be achieved after just two modules.

Qualified Financial Adviser (QFA) designation

The benchmark for those in financial services, it is the recognised qualification that allows people to work in almost any type of advisory role with customers. The QFA has become an important qualification in the industry today for those looking to progress and build long-term employment within the industry.

Credit Union designations

With increased need for qualified people within the Credit Union Movement, achieving an LIA Credit Union Designation will allow school-leavers the opportunity to gain employment in this area.

Our Credit Union Channels programme has been developed to provide a comprehensive and tailored path to becoming qualified for a Credit Union role.

The programme comprises three designations that dovetail with each other and with other LIA designations, offering a unique Credit Union course offering.

Further information from LIA on the range of courses that allow people take their first step on the work ladder and progress in all manner of roles within the Financial Services industry are availabe here:

Download the latest LIA Information Brochure here [pdf]

 

What are the typical routes into this sector?


The typical route into the insurance industry is following Leaving Certificate or third level graduation. Many new starters begin in administrative roles, developing an understanding of the industry and various functions and products. Opportunities to specialise are available including underwriting, claims management, broking, sales and compliance.

Those who already hold, or are currently undertaking one of the professional designations (e.g. APA, QFA, CIP) may find that they can enter the industry at a higher level.

New Insurance Practitioner Apprenticeship

Be the first to hear about the Insurance Practitioner Apprenticeship 2017 - click here to register your interest.

In the past, the insurance sector had a tradition of hiring school-leavers into apprenticeship roles. Many of the industry’s leaders started out as apprentices, undertaking professional qualifications as they worked their way up through the ranks. This tradition faded with the increasing popularity of attending university over the last 15 years, although the graduates who enter the industry still undertake professional qualifications on top of their college degrees, as in other industries – a source of frustration for many. The new Insurance Practitioner Apprenticeship, will provide a solution to these issues.

School leavers who embark on the professional Insurance Practitioner Apprenticeship Scheme will get their foot on the career ladder earlier than most graduates, while still earning a level 8 qualification and a salary. Insurance Practitioner Apprentices will become part of a pool of talent from which organisations can recruit when looking for people who want to create a strong career in the insurance industry and who have the qualifications and employability skills to do so. 

The BA (Hons) Insurance Practitioner Apprenticeship, a Level 8 ‘earn and learn’ degree delivered by The Insurance Institute and IT Sligo, which combines academic qualifications with practical on-the-job learning.

Entry requirements

  • Minimum 2 honours in Leaving Cert
  • 4 additional passes including English/Irish and Maths
  • For those over 23 on 1 January of the year of entry, interviews and other selection tools may be used to assess, replacing Leaving Cert entry requirements.

Detailed entry requirements can be found here.

Applications will open in the next few weeks. Register below to recieve updates:

 

 


Advice... header image
What advice do you have for school leavers?


For school leavers currently weighing up their career options, a career in insurance should certainly be a consideration. With a stable of the most financially sound and reputable employers across financial services, there are lots of opportunities for bright, enthusiastic people who are willing to learn, not to mention optimum opportunities to grow and develop.

Entry level positions in administration, claims, underwriting and broking are all possible options if you possess the right mix of verbal and written communication skills. Due to Central Bank of Ireland compliance requirements, some of these roles require you to undertake a professional qualification within four years, allowing you the opportunity to earn while you learn.

For those looking to further their education before entering the workplace, perhaps consider Business or Finance related qualifications, as these contain lots of crossover skills and knowledge which can be utilised in the insurance market.

Insurance and risk degree holders are generally highly desirable as entry level employees within the sector and they may also benefit from certain exemptions towards achieving their professional insurance qualifications.

Alternatively, it is possible for students, who are interested in a career in insurance, to complete one or more of the entry modules directly with The Insurance Institute of Ireland or LIA. This could provide them with a distinct advantage over their peers during the recruitment process.

New Insurance Practitioner Apprenticeship

Be the first to hear about the Insurance Practitioner Apprenticeship 2017 - click here to register your interest.

School leavers who embark on the professional Insurance Practitioner Apprenticeship Scheme will get their foot on the career ladder earlier than most graduates, while still earning a level 8 qualification and a salary. The Insurance Practitioner Apprentices will become part of a pool of talent from which organisations can recruit when looking for people who want to create a strong career in the insurance industry and who have the qualifications and employability skills to do so.

The BA (Hons) Insurance Practitioner Apprenticeship, a level 8 ‘earn and learn’ degree delivered by The Insurance Institute and IT Sligo, which combines academic qualifications with practical on-the-job learning.

Flexible route to Financial Services

LIA can assist school-leavers and graduates with an avenue into the workforce with courses that:

  • have no points requirements
  • have minimum Leaving Cert requirements (5 passes)
  • are recognised by 100s of large employers
  • require no CAO application
  • are accredited by UCD

Click to view full size image

Find out more here

 

What advice do you have for graduates?


Graduates with a solid primary degree or third level qualification will find opportunities within all sectors of the insurance industry without necessarily having to pursue further postgraduate studies.

Due to the compliance requirements of the Central Bank of Ireland, they may be required to partake in the professional exams, however with qualifications already under their belt they may be entitled to exemptions for some of the more advanced modules including marketing, law etc.

Each year the industry successfully inducts many of Ireland's top graduates into its ranks and will blend their skills and knowledge to complement their existing workforce. Graduates should pursue the areas of insurance that most interest them, but not exclude other areas as these may provide a different angle of approach to the sector and can ultimately lead to a more varied and interesting career path.

Be the first to hear about the Insurance Practitioner Apprenticeship 2017 - click here to register your interest.

Find out more about career opportunities in the Insurance Industry here.

Flexible route to Financial Services

LIA can assist school-leavers and graduates with an avenue into the workforce with courses that:

  • have no points requirements
  • have minimum Leaving Cert requirements (5 passes)
  • are recognised by 100s of large employers
  • require no CAO application
  • are accredited by UCD

Click to view full size image

Find out more here

 

What advice do you have for career changers?


Insurance is such a diverse industry that even those already working in the sector have opportunities for career change. It's not uncommon for experienced claims professionals to switch to loss adjusting as they both contain similar claims management skills at their core.

Equally it's not uncommon for underwriters to cross into broking as they both have a good solid base of insurance knowledge. Anyone new to the sector should be aware of the key skills and qualities necessary for success in the industry.

Excellent written and verbal communication skills, IT proficiency, a keen interest in the market and a willingness to learn are all highly valued. Enthusiasm works wonders in most industries including insurance, so no matter what your previous experiences, there are several areas within insurance where you could potentially transfer into.

Individuals with experience in sectors such as construction, healthcare and motor trade have been recruited recently to some of the larger insurers where their specialist experience is very desirable.

Find out more about career opportunities in the Insurance Industry here.

 

What advice do you have for non-Irish nationals?


For non-Irish nationals considering their options, the insurance sector is a very welcome home to many. People with financial services or insurance experience tend to have a better chance of gaining employment in the industry here.

There are always opportunities across the board within claims, broking and underwriting for anyone who possesses the right combination of skills and experience. Many of the top insurance companies have multilingual sales and customer services teams requiring employees with second languages, so non-Irish nationals may hold a significant advantage in this regard.

Depending on the area of sector of employment within insurance, professional qualifications may be required. These exams offer employees great opportunities to gain a qualification while they work and employers will actively encourage their new employees to take the recognised industry exams.

Depending on the role, having these professional qualifications in advance (e.g. APA, CIP, QFA) could be an advantage at the recruitment stage.

Find out more about career opportunities in the Insurance Industry here.

 

What advice do you have for those wishing to go back to work?


For anyone who has been unemployed or out of work for any reason for a long period, entering the insurance market may be a little difficult initially. However, a good set of core skills and qualifications should make the transition a little easier.

Applicants with a decent standard of education, good communication abilities, IT proficiency, and an enthusiasm to learn will always be of interest to the industry's top employers.

You may need to upskill and for those committed to a career in the insurance industry, it could be beneficial to hold, or be undertaking one of the recognised designations (e.g. APA, CIP, QFA) whilst job-hunting. Such candidates have a distinct advantage over their peers.

For those who successfully pass their exams and learn the key skills required in underwriting, claims or broking, there are endless opportunities for career advancement, with many promoted to more senior positions within a 3–5 year timescale.

Find out more about career opportunities in the Insurance Industry here.

 


Meet our People...
"The insurance sector is so broad there are so many different career opportunities and directions you can go in."
Insurance Administrator
Kevin Moran
"You need to be a problem solver, think outside the box."
Customer Care Manager
Nicole Feighery
"Insurance is a fast paced and evolving sector, whether you like working on your own or in a team there is a job in insurance for you"
Finance Operations
Sarah Tenanty
"You have to have a willingness to learn and to start at the bottom."
Insurance Practitioner Apprentice
Paddy Power
"I would highly recommend this job but I’d say to start taking insurance exams as soon as possible and get them done while you’re young."
Associate Director
Karl Curran

Employer Insights... header image
Getting the job...
Main challenges...
Typical day...
Further training...
Advice if considering this job...
The lifestyle...
Whats cool...
Not so cool...

Global Opportunities... header image
Are there overseas opportunities available?

The insurance industry is a highly reputable sector and insurance qualifications are globally mobile, with insurance graduates qualified in Ireland finding employment in Canada, Australia, Dubai, Bermuda and of course mainland Europe, particularly London.

If travel and adventure are part of your future plans, then a career in insurance could be the perfect fit for you. Indeed in some companies certain expertise – such as commercial underwriting skills – is highly desired and many international insurers offer staff overseas secondments or transfers to other countries. One of the attractions of a role in a large global insurance company is the potential for an overseas transfer, providing an individual with the opportunity to travel while building their career.


Joe O'Rourke, CIP - Insurance Lead, King Abdullah University of Science & Technology

EDUCATION - THE PASSPORT TO SUCCESS
This new series of articles from the Insurance Institute of Ireland profiles insurance professionals who began their careers in Ireland but who have gone on to secure exciting opportunities all over the world. In addition to highlighting the roles insurance qualifications play in career development, these pieces also shine a light on the global network of insurance contacts available for members of the Irish market to plug into.

 

 

John Kearns, MBA, B.Sc. FCIIExecutive VP Sales & Marketing, Erie Insurance Group

Frank Kavanagh, BBS CIPLondon Underwriting Manager, Hiscox

Sinéad Browne, MBA ACII, Chief Operating Officer, Allianz Global Corporate and Specialty John Harnett, CDIP L.A., Loss Adjuster, OSG

 

 

 

Are there opportunities in this sector for non-Irish nationals?

Insurance is accessible to all. Given the nature of the work involved, a good standard of written and spoken English is essential for most roles. Similarly, previous qualifications may be necessary for some specialist roles.

Many of the larger insurance companies, especially those serving other markets from their Irish base, have a strong demand for individuals with multilingual skills in the areas of sales, claims and customer services. 

This provides great opportunities for non-Irish nationals with a good standard of written and spoken English. The main languages that are in high demand are German, French, Arabic Swedish and Dutch.

 


About this Sector... header image
Please give an overview of your sector?


Insurance is about delivering peace of mind. Insurance companies offer financial protection and security to individuals and businesses, allowing them to take the risks necessary to grow and expand.

Insurance employs over 28,000 people in Ireland ...

There are a wide range of insurance products available that offer protection for personal insurance such as motor, life, home, private medical, pets and electronic gadgets. There is also a range of commercial insurance policies offering tailored protection for businesses of all sizes.

Other insurance policies provide benefits such as income protection, investments, savings and pension products. Insurers also offer event insurance protecting against unforeseen circumstances for one-off personal events such as weddings and large scale events like music concerts or even the Olympics.

There are also a range of specialist products offering protection to celebrities and professional athletes:

  • Sports teams insure their star players against picking up injuries that could impact on both the player’s career and the club’s commercial success.
  • Singers, dancers and actors insure their most famous assets, whether that’s their voice, their legs, their smile, or even their looks!
  • Musicians use insurance to protect both their musical equipment and their hands, as loss or injury could mean loss of income.

Insurance companies in Ireland have just under €200 billion of policyholder assets. Of this, around €46 billion is invested in Ireland.

The Irish insurance sector contributes over 4% of total net tax receipts, with insurance companies paying a range of taxes and levies, including corporation tax, taxes on income of employees, VAT and insurance and pension levies. The total tax contribution to the Irish exchequer by the insurance sector is estimated at €1.6bn.

 

What is the size and scope of the sector?


The insurance sector is a major source of employment in Ireland, employing approximately 28,000 people in total. Of these, 14,000 are employed directly by insurance companies, with the remaining 13,000 employed by companies providing services to the industry such as intermediaries, financial advisers and consultants.

The sector supplies the Irish market with a wide variety of insurance products including motor, life, property, liability, pension and private medical cover. Most of the insurance companies operating in Ireland are owned by multi-nationals.

Within each insurance organisation, career disciplines range from traditional careers in underwriting, claims, actuarial and finance, to opportunities in marketing, sales, customer service, legal, compliance and public relations.

All of which provide various opportunities to develop a broad range of skillsets as a person’s career progresses within the insurance sector. Ireland also has a strong track record in attracting international firms to establish centres of excellence in this country, which then provide insurance services to other territories.

Examples of such ‘centre of excellence’ activities include:

  • Risk analytics
  • Actuarial modelling
  • IT management and cyber security
  • Insurance software development
  • Products with investment guarantees (Variable Annuities)

 

What are the current issues affecting this sector?


While the financial crisis in Ireland had a severe impact on the profitability of the domestic insurance market, increasing economic stability has resulted in a change in the industry. More and more companies are increasing their recruitment efforts as they return to profit.

Now is an exciting time to join the insurance industry, with developments in technology allowing for more interesting and dynamic roles across the board, from claims and pensions through to risk management and fraud prevention.

 

What changes are anticipated over the next 5 years


Ireland’s insurance sector has clear advantages relative to competing jurisdictions, including the quality of our people, the business friendly environment, a low and stable onshore tax regime, the robust regulatory environment and an improved competitive cost base.

Insurance Ireland has a clear and realistic ambition to add 3,000 high quality new jobs in the insurance sector over the next five years.

Be the first to hear about the Insurance Practitioner Apprenticeship 2017 - click here to register your interest.

 

 

Do you have any statistics relevant to the sector?


The insurance sector employs approximately 28,000 people in Ireland. Of these, 14,000 are employed directly by insurance companies, with the remainder employed by companies providing services to the industry such as intermediaries, financial advisers and consultants.

The sector has broadly equal representation from both genders across its workforce. The majority of employees in this sector are Dublin based, where the large insurers and global brokers typically have their head offices.

In addition to this, there are a number of regional customer service centres based in areas such as Cork, Galway, Wexford, Kilkenny, Limerick and Cavan. There is also a broker presence in most towns and cities across the country where expert advice is given on a face-to-face basis to the local community.

Employees working in the insurance sector tend to be office-based professionals working full-time serving both the domestic and international insurance sector. There are a number of roles that require an element of travel.

For the domestic insurance market, these roles are typically in the broker business development area or in loss adjusting. International insurers often require their staff across various disciplines to travel on a regular basis to markets outside of Ireland which they serve.

As such, having a foreign language is a major asset for those working in insurance companies based in Ireland serving foreign markets.

 

Are there any areas in your sector currently experiencing skills shortages?


In general, insurance companies operating in Ireland are able to access staff without too much difficulty. There are some gaps in finding people with the right skill set in modern technology development and application development, as well as those with actuarial and traditional underwriting experience.

There are also some difficulties finding people with the right experience in the Quantitative/Business Analyst space. Having a foreign language is an advantage for the international insurance sector, with companies based in Ireland serving both the European markets and beyond.

These are clear opportunities for people seeking rewarding, high-skilled careers in one of Ireland’s strongest performing financial services sectors.

Be the first to hear about the Insurance Practitioner Apprenticeship 2017 - click here to register your interest.

 


About Us... header image

Insurance makes a major contribution to Ireland’s economic growth and development and is a cornerstone of modern life for all of us. One of the most important aspects of insurance is to provide financial security to individuals and businesses, allowing them to take risks and encouraging innovation. Each year the insurance industry pays out more the €5.4 billion in claims to Irish customers.


The sector is highly regulated by the Central Bank of Ireland. Customers are at the heart of the insurance sector and as such there are systems in place to ensure that those advising insurance customers are fully qualified, competent and confident to do so. The Central Bank of Ireland's Minimum Competency Code sets out the minimum standards for individuals providing services to consumers and as a result, insurance professionals working in consumer-facing roles must make sure they are compliant with its rules.


There are a number of organisations across the insurance industry that represent the interests, education, compliance and professional development of the individuals who are working in the sector and the companies who employ them. The following are three of the main professional bodies in the insurance industry;

 


 

The Insurance Institute is the leading provider of education, training and Continuing Professional Development (CPD) for the general insurance industry in Ireland. With an experienced, highly qualified team committed to the professional development of over 12,500 members, they design and deliver courses and qualifications of the highest calibre through a fully supported framework.
Some of the III's qualifications include:

  • Professional Certificate in Insurance (APA): This is the entry level qualification on the III's framework and is ideal for New Entrants to secure their regulatory license and meet the requirements of the Central Bank of Ireland's Minimum Competency Code. The Professional Certificate in Insurance is a level 7 diploma on the National Framework Qualifications (NFQ) and is awarded by UCD through the Institute of Banking College of Professional Finance
  • Professional Diploma in Insurance (CIP): This is the industry benchmark qualification and is the expected standard across the industry. It equips graduates with the competencies to be competitive. The Professional Diploma in Insurance is also a level 7 diploma on the National Framework Qualifications (NFQ) and is awarded by UCD through the Institute of Banking College of Professional Finance.
  • Management Diploma in Insurance (MDI): As an advanced qualification, the Management Diploma in Insurance (MDI) meets industry demand for more in-depth and specialised insurance expertise, as well as greater business acumen at management level.

 Contact Name: Naomi Gaffney

  • Address: Insurance Centre, 5 Harbour Master Place, IFSC, Dublin 1, D01 E7E8
  • Email: ngaffney@iii.ie
  • Web: www.iii.ie 
  • Phone:  +353 1 645 6629

 

 

LIA is the professional education and development association for over 10,000 professionals working in the Financial Services industry in Ireland. Its members work primarily in the Life Assurance, Pensions, Investments and Mortgage sectors across advisory, support, administrative and consultancy roles. In addition, 10% of LIA’s members work in the Credit Union movement.


LIA’s mission is “to enhance the knowledge, competence and skills of our members and students who work in all areas of the Financial Services industry” and it assists its members and students in the following three distinct ways:

  1. Helping them attain educational qualifications and resulting MCC (Minimum Competency Code) recognised designations through its various educational courses – in other words, helping members attain their licence to provide financial advice e.g. Accredited Product Adviser (APA) and Qualified Financial Adviser (QFA) designations;
  2. Helping them retain their designations by keeping up to date with legislative, regulatory and industry changes – through its annual Regional and National 'face-to-face' CPD seminars (40+ events annually) and its online CPD facility, MyCPD (28 online modules available via www.mycpd.ie);
  3. Helping them develop themselves personally and professionally through its specialist courses (e.g. Retirement Planning Adviser, Specialist Investment Adviser), its Regional and National non-CPD seminars and workshops, and regular relevant articles published on its website (www.lia.ie) and in its quarterly journal, The Financial Professional.


All LIA educational courses are run in conjunction with UCD’s College of Professional Finance and are on the National Framework of Qualifications, ranging from Level 7 (Professional Certificate / Diploma) through Level 9 (Graduate Diploma / MSc).

 Contact Name: Rebecca McGee

 

 

As the Voice of Insurance actively promoting the highest standards, Insurance Ireland represents the domestic insurance and international life insurance market. This business generates €25bn in premium income (domestic and overseas), employs 27,000 people, with thousands more in ancillary services and contributes over €1.6bn in tax to the Irish exchequer. Insurance makes a major contribution to Ireland’s economic growth and development and is a cornerstone of modern life. One of the most important aspects of insurance is to pay claims to customers at times when they need it most. Each year the insurance industry pays out more than €5.4bn in claims to Irish customers.


As the voice of the industry, Insurance Ireland's key functions include:

  • Representing its members’ interests to government, state agencies, regulatory bodies, public representatives, other national interest groups, the media and the general public
  • Representing the position of members at a European level, particularly via Insurance Europe, the European association for national insurance company representative bodies, and at a global level via the Global Federation of Insurance Associations (GFIA);
  • Keeping members abreast of relevant policy and regulatory developments and providing a forum for member debate on such issues;
  • Providing information to government, the wider policy-making community and the public about insurance.

Contact Name: Laura Farrell