Last updated on Apr 14, 2024
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Know your motivation
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Show your passion
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Avoid these mistakes
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Practice your answer
Be the first to add your personal experience
6
Here’s what else to consider
Be the first to add your personal experience
If you're applying for a job in the insurance industry, you might face this common question: Why do you want to work in the insurance industry? Your answer can make or break your chances of getting hired, so you need to prepare a convincing and sincere response. In this article, we'll share some tips on how to craft your answer and avoid some pitfalls.
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- Funmi Ogunbiyi FIIN and CAMS certified Head of Technical at Stanbic IBTC || Insurance || Underwriting || Business Operations || Claim… 4
- Mohammad Jafari Product manager | Business developer | Insurtech mentor | enthusiastic learner 4
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1 Know your motivation
Before you go to the interview, think about what attracted you to the insurance industry in the first place. Was it the opportunity to help people protect their assets and recover from losses? Was it the variety and challenge of working with different clients and products? Was it the potential for growth and development in a dynamic and evolving sector? Whatever your reason, make sure you can explain it clearly and relate it to the specific role and company you're applying for.
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When answering why you want to work in a specific insurance company in an interview, you can highlight aspects such as the company's reputation, values, growth opportunities, creative products/services, or alignment with your career goals.
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- Mohammad Jafari Product manager | Business developer | Insurtech mentor | enthusiastic learner
People who work in the insurance industry can have the following motivations:1- Helping to protect people's property2- Help to eliminate poverty3- Help with crisis management4- Gaining financial benefits5- Gaining fame6- Taking people's rights in claims
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I'm keen to address this question from multiple perspectives:- Personal Connection: Reflecting on personal experiences that resonate with the insurance industry- Long-Term Career Prospects: I envision a fulfilling and enduring career in the insurance sector due to its dynamic nature and continuous evolution- Skills Alignment: My skills and expertise align seamlessly with the diverse demands of the insurance industry- Desire for Impact: Recognizing the transformative trends shaping the insurance landscape
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⦿ Drawn to the industry's vital mission of security and risk protection for people and businesses⦿ $6.6 trillion in net premiums written globally in 2022⦿ Intellectual challenges of modeling and quantifying risks appeal to me⦿ U.S. insurers employed over 120,000 actuaries and analysts in 2021⦿ Stability of an essential service with consistent demand⦿ Insurance premiums grew 3.7% annually from 2017-2022⦿ Opportunities from emerging risks like cybersecurity⦿ Cyber insurance premiums projected to hit $22.5B by 2025⦿ Desire to have a positive impact through a service-driven industry
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- Isaac Adissi Diretor Executivo na Aliansce Total Corretora de Seguros
Ao responder por que você quer trabalhar em uma seguradora específica em uma entrevista, você pode destacar aspectos como a reputação da empresa, valores, oportunidades de crescimento, produtos/serviços criativos ou alinhamento com seus objetivos de carreira.
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2 Show your passion
Don't just say you want to work in the insurance industry because it's stable or lucrative. Show some enthusiasm and passion for the field and its impact on society. You can mention how insurance contributes to economic development, social security, and risk management. You can also share some examples of how insurance has helped you or someone you know in a personal or professional situation. Demonstrate that you have a genuine interest and curiosity in learning more about the industry and its trends.
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To an extent, nearly everything you do or touch is related to insurance (your car, your house, your health...) so it will be easy to find a concrete example to get passionate about. The insurance industry is an exciting industry to work in and showcasing a genuine interest will make a positive impression.
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3 Highlight your skills
Another way to answer the question is to emphasize how your skills and abilities match the requirements and expectations of the insurance industry. You can mention some of the key skills that insurance professionals need, such as communication, problem-solving, analytical, and customer service skills. You can also showcase some of the relevant experience or education you have in the insurance field or related areas. For instance, you can talk about how you handled a complex claim, negotiated a policy, or completed a certification.
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Remember transferable skills! You might be coming from another industry (like many insurance professionals, actually) but this doesn’t mean you don’t have the skills to do the job and willingness to learn how to apply them in this new context.
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4 Avoid these mistakes
While answering the question, make sure you avoid some common mistakes that can undermine your credibility and impression. Don't say you want to work in the insurance industry because you don't have any other options or because you think it's easy. Don't be vague or generic in your answer, such as saying you like insurance or you want to help people. Don't be negative or critical about other industries or employers. And don't lie or exaggerate about your motivation, passion, or skills.
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Leave the stereotypes out and show some passion for the insurance industry and your future role...it might looks boring from the outside but you could be surprised to see how much fun it could be to work in such industry!
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5 Practice your answer
Finally, don't forget to practice your answer before the interview. You can write down your main points and rehearse them aloud. You can also ask a friend or a mentor to give you feedback and suggestions. Try to keep your answer concise and focused, ideally no longer than two minutes. And remember to be confident and positive in your tone and body language.
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6 Here’s what else to consider
This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?
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