Types of E&S Jobs
This is not car insurance.
Many E&S professionals never thought they would have a career focused on insurance. Because E&S is so different from what we think of as typical insurance, it is able to provide a fulfilling career for a wide variety of people and educational backgrounds.
There are many job types within the Excess and Surplus Lines industry.
Below is a list of career choices with description and preferred education. Excess and surplus line’s companies in California are looking for bright and talented individuals to be part of and propel forward a $7.5 billion state-wide industry.
An Actuary is responsible for analyzing the possible outcomes of the types of events that could potentially cause policyholders to make claims against their insurance policies. They study the overall likelihood that different events will occur, and they evaluate the potential risks each event poses. Their goal is to try and assess the costs associated with the event should it actually occur.
Broker / Agent
A surplus lines (SL) broker is an insurance professional who negotiates coverage on your behalf from an excess and surplus lines (E&S) insurer. E&S insurers specialize in risks that standard insurers won’t cover. They are nonadmitted, meaning they operate in states in which they aren’t licensed.
Insurance claims specialists, also referred to as claims examiners, or claims investigators are responsible for reviewing a client’s claim in order to determine whether or not they are covered under a policy and to evaluate the extent of a settlement that the insurance company must pay.
Are you a numbers person? The insurance industry has a great many jobs in the accounting and finance fields of business. Accountants, financial analysts, controllers, tax analysts, accounts payable, fraud managers, chief financial officers (CFO) and finance directors are just a few of the jobs that make up this sector.
Loss Control Specialists work on behalf of insurance companies to reduce the frequency and severity of policyholder losses. They inspect the operations of those applying for coverage, analyze historical loss and claims data, assess the possibility of future losses, and make recommendations to mitigate potential risks.
Risk management specialists are financial managers that use specific training, skills and experience to identify possible risks that could result in lower cash flow and higher insurance rates for the business. These specialists assess risks and implement plans and strategies to minimize business losses.
Sales is the backbone of any industry, and holds true with insurance. There are B2C (business to consumer) and B2B (business to business) sales jobs, providing the insurance plans people and businesses purchase to protect themselves and their property.
Insurance underwriters evaluate applicants for insurance. They determine whether or not a prospective customer should be insured and, if so, recommend an appropriate premium to take on that level of risk. Insurance underwriters use software to help analyze the risk profile of clients and to calculate costs.