This Canadian industry is booming while crying out for qualified professionals

Apr 22 2022, 6:12 pm

We hear a lot about Canada’s aging population these days, and the effects it will have on our workforce.

A positive of this situation, however, is that it’s already providing young people with options at the beginning of their careers — such as a secure, rewarding, and well-paying industry needing a large number of qualified employees.

The world of general insurance and risk management is booming, yet suffering from high retirement numbers. According to Shaun Sinclair — program head of the General Insurance and Risk Management program at BCIT — it couldn’t possibly be a better time to embark on a career in general insurance.

“Students who graduate now are in a fantastic position to start an upwardly mobile career in just about any capacity they want,” says Sinclair. According to Sinclair, BCIT is the only school to offer a diploma specializing in both general insurance and risk management. This BCIT program provides pathways to professional designations and a degree, and Sinclair credits the program’s success (with a 98% employment rate) to the extra credentials that give graduates an edge.

The program at BCIT includes the ability for students to get two designations, eight of 10 credits towards the Chartered Insurance Professional (CIP) designation, and a Canadian Risk Manager (CRM) designation — compared to other schools where graduates would need to get a CIP and CRM designation on their own after finishing the program. “Those with a CIP designation are much more valuable to employers,” Sinclair tells Daily Hive.

Students also complete a 40-hour work placement to gain industry knowledge and create connections for future employment — and they can also choose to continue on for an extra year to complete a Bachelor’s Degree in Business Administration. The course even extends to BCIT’s partner field schools all over the world, offering students the opportunity to study abroad.

If you’re thinking “that all sounds great, but isn’t insurance boring?” think again.

“Most people only know insurance because they are forced to buy car insurance or home insurance when they have a mortgage,” Sinclair explains. “If you think more deeply, almost everything you see, everything you buy, and everything you do are backed up by insurance in some way. Consequently, it doesn’t matter what you are interested in, there is probably an avenue for you to work in that industry.”

Sinclair recalls one of his friends who works in insurance and spends his days assessing movie and TV filming locations (yea, this one shocked us as well). “They meet with the owners, do site tours, and understand the risks so they can provide underwriters with a proper understanding,” says Sinclair.

And on the other side of the general insurance game are adjusters — experts who review policy to find coverage, rather than deny it.”If there is an accident on set, they handle those types of losses. This is true in sports, forestry, mining, commercial property, gaming, retail, etc.”

“It doesn’t matter who you are, if you are shy, outgoing, technical, non-technical, like or dislike working with the public, want to work from nine to five, want to work long hours to make substantial income — it’s all available in the insurance industry,” says Sinclair.

If you’re interested in learning more about a career in general insurance and risk management, attend an info session to find out more.

Daily Hive

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