Insurance is everywhere, you don’t see it but most things in Canada are insured. From car insurance to cyber insurance. Every accident has a predetermined payoff and a carefully calculated premium. The algorithms used in insurance are meticulously created after carefully translating everyday events into probability and numbers. There are a lot of exciting new things happening in the insurance world in the age of technology and there are several roles that could suit different backgrounds.
Careers are normally split into the brokers, advisors, investigators and actuaries.. The brokers are tasked with onboarding new clients and finding the best policies for them. Advisors help customers claiming insurance to gain a better understanding of how to proceed. Investigators are responsible for making sure there is no fraudulent activity going on in insurance claims; they determine whether or not the terms have been met by both the insurance company and the claimant. Lastly, you have the actuaries, who are the authority when it comes to premiums and pricing. Actuaries determine how likely certain events are using economics, statistics and mathematics and price it into the premium.