Risky Business

Your house floods. Your flight is cancelled. Your business is hit by cybercrime. These are just a few of the real-world events that insurance protects us from. In a world where risk is everywhere—from health and travel to climate and data—insurance is not just important; it’s essential.

But insurance is more than a safety net. It’s also a diverse, stable, and expanding industry offering rewarding career paths in everything from data analysis and underwriting to customer care and compliance. If you’re looking for a career that blends job security with professional growth, the insurance sector is a smart choice.

Why Work in Insurance?

Insurance is a $60+ billion industry in Australia and continues to grow as risks become more complex. With over 150,000 people employed across general, life, and health insurance as of 2024, demand for skilled professionals remains strong in both customer-facing and analytical roles..

It’s a sector offering:

• Strong career progression and entry-level opportunities
• Job security in a regulated, recession-resilient industry
• Opportunities to work across finance, law, health, tech, and data

Explore insurance and financial services courses to get started.

Key Areas of Insurance

General Insurance

Includes property, vehicle, travel, liability, and business interruption cover. It protects individuals and businesses from physical and financial loss due to accidents, disasters, or theft.

Life Insurance

Protects families against income loss due to death, disability, or critical illness. Often bundled with superannuation, life insurance is essential to long-term financial planning.

Specialised Coverage

In today’s world, you can also insure against:

• Cyberattacks
• Natural disasters
• Professional negligence
• Adventure travel mishaps (yes, even elephant riding or stilt walking!)

Popular Careers in the Insurance Industry

The industry supports a wide range of roles depending on your interests—whether you’re into analytics, people, or process.

Underwriter

Evaluates risks and determines policy terms and premiums. You’ll need analytical skills, teamwork, and attention to detail. Many underwriters specialise by sector (e.g. property, cyber, or liability).

Claims Officer

Handles claims from start to finish. You’ll liaise with clients, assess documentation, and coordinate settlement. It’s a customer-focused role that requires empathy, organisation, and integrity.

Insurance Broker

Acts as a trusted advisor to individuals or businesses seeking coverage. Brokers work independently or through agencies and need excellent communication, product knowledge, and negotiation skills.

Actuary

Uses mathematics and data modelling to predict risk and design policies. One of the most in-demand roles in financial services, it requires a serious head for numbers and long-term problem solving.

Risk Surveyor

Assesses properties or businesses to evaluate exposure and advise on prevention measures. Often works on-site and plays a key role in reducing potential claims before they occur.

Loss Adjuster

Investigates and verifies insurance claims, especially for major incidents. Coordinates with engineers, law enforcement or tradespeople to assess damage and confirm legitimacy.

Customer Service Consultant

Provides support to clients or brokers, often via call centres or digital platforms. Excellent for entry-level candidates looking to grow into underwriting or account management roles.

What Qualifications Do You Need?

You can enter the industry through various backgrounds including business, commerce, law, mathematics, or customer service. However, formal training in financial services and insurance is increasingly valued.

Recommended courses include:

• Diploma of General Insurance
• Diploma of Insurance Broking
• Short courses in risk management or financial services

Actuaries require university-level degrees in mathematics, statistics or actuarial studies and may need further accreditation from the Actuaries Institute.

Insurance Careers: Low Risk, High Reward

If you’re looking for a dynamic industry that offers growth, stability, and the chance to help people in real ways, insurance is well worth considering. Whether you’re a numbers person, a people person, or somewhere in between, there’s a place for you in this industry.

Take your first step by browsing finance and insurance courses and speaking to a course advisor about which option best suits your goals.