Insurance - an industry that never goes out of fashion

However, to confidently pursue this field requires learners to have enough understanding and passion for it.

Insurance industry is closely linked to the economic sector.

In today's life, anywhere and in any situation, people can face risks. The insurance industry was born in an integrated economy, with the mission of caring for and ensuring the best safety for people physically and mentally.

Along with that, insurance helps implement macro policies on economic stability, the ability to control inflation, and balance the economy in the integration era; contributes greatly to supplementing long-term investment capital, saving investment costs.

At universities and academies, insurance training programs equip students with comprehensive knowledge of insurance, including social insurance and commercial insurance, meeting the needs of socio-economic development and international integration, helping them grasp basic insurance theories; understand the State's policies and regulations on social insurance (including unemployment insurance and health insurance), the process of participating in social insurance, social insurance collection procedures, settlement and organization of social insurance payments...

Insurance is a good choice for students. Photo: Pham Hung

When studying insurance, students are not only equipped with knowledge about the insurance industry and insurance operations, but also participate in academic programs, scientific seminars, and specialized reports on fields related to the insurance industry.

“Insurance activities play a positive role in the economy, it is an economic shield against risks; it has the function of protecting and stabilizing family life”, Associate Professor, Dr. Doan Minh Phung - Head of Banking - Insurance Department, Academy of Finance shared.

Mr. Nguyen Tien Hung - Director of the Insurance training program, Ho Chi Minh City University of Economics said that the insurance industry belongs to the economic sector, so students studying this industry at Ho Chi Minh City University of Economics will be equipped with general knowledge of economics, then industry knowledge and specialized knowledge of insurance.

In addition to the above two units, some training institutions nationwide enroll students in the insurance industry such as: National Economics University, University of Labor and Social Affairs, University of Economics and Industrial Technology (Hanoi)...

Like other majors, the admission methods for the insurance industry are quite diverse, such as: direct admission, admission of excellent students, high school graduation exam scores, transcripts, international certificates, competency assessment test scores... If through high school graduation exam scores, the admission combination for the insurance industry group is: A00 (math, physics, chemistry); A01 (math, physics, English); D01 (math, literature, English) and D07 (math, chemistry, English). The standard score for the insurance industry ranges from 20 - 26 points depending on each school, combination or admission season.

Many destinations for insurance students

Many people still do not have a correct understanding of the position, role and products of insurance. Some people think that those who study insurance will only work as consultants and insurance sellers; even insurance products are considered fraudulent. The decline in public trust in insurance is also an obstacle to recruitment and training in this industry.

So, what jobs can you actually do after studying insurance and where can you find them? The answer is, with the knowledge you have, insurance graduates have many options and destinations to choose from.

Graduates can take on many positions at insurance companies (sales staff, accountants, investment staff, product research and development staff, managers, agents or staff providing insurance support services); at commercial banks (sales staff, network development and agent support management); at state management agencies, social insurance agencies, health insurance agencies, universities, etc.

In addition to insurance companies, most other companies also need specialized insurance personnel in supporting activities, insurance services, insurance brokerage, independent appraisal, etc. Therefore, working in which position depends on the ability, interests, strengths and opportunities of each student as well as the assignment from the agency or company.

Normally, the initial probationary salary of insurance graduates is from 6 to 7 million VND/month. Income will include salary, bonus, business trip allowance, lunch and some other benefits. When signing an official contract, the average salary is around 15 million VND/month.

Newly recruited students or third- and fourth-year students who want to work to gain more knowledge about the industry will often take on the position of insurance consultant to begin to get acquainted, learn, and gain experience about the company's insurance products.

Many experienced personnel working in the insurance industry believe that when consulting on insurance, young people are easily labeled as university graduates who only sell insurance, but they need to consider it an opportunity to learn and gain good experiences.

If you do not like consulting, after gaining experience, you can proactively seek other opportunities, but always remember, you need to take advantage of your time and learn anytime, anywhere.

During the internship or study-work period at a unit related to the insurance industry, students can determine their own orientation and development path to see if they really love the insurance industry, what their own capacity is; from there, decide the right direction for their future career.

Regarding the insurance industry, experts are always optimistic that job opportunities in the insurance industry are always very large; however, to do well and earn a high income depends on the capacity of the staff. In addition to studying well in their major, students need to constantly learn skills, cultivate and develop their IT and foreign language abilities to improve their job opportunities.

 

The insurance industry is very broad, providing many products and services in many areas of social life. Therefore, students who have, are, and are about to study insurance can rest assured in their choice, without worrying about being outdated because human resources, especially high-quality human resources, in the current insurance industry are still lacking compared to actual needs...

Director of BIDV Insurance Corporation's member company Nguyen Van Hung

Source: https://kinhtedothi.vn/bao-hiem-nganh-khong-loi-thoi.html