Why Should I Consider an IT Career in Insurance?

If you’re paying attention, you’ve likely heard talk of a lot of changes happening in the insurance industry. Much of the news is focused on the major shifts that will impact consumers, but it’s worthwhile to note the major digital transformation happening behind the scenes in insurance.

“Insurtech,” as it’s been dubbed, applies to both the digital conveniences that customers are demanding from their providers, as well as the technological innovations that are driving more efficient (and profitable) processes on the backend.

This demand for modern solutions is driving an equal need for skilled IT professionals to make everything happen as streamlined and swiftly as possible. In this blog post, we’ll talk about the developing relationship between IT and insurance, the benefits of pursuing a role in this burgeoning field, the job opportunities available, and the best steps to pursue them to reach a successful IT career in the Insurance sector.

The Intersection of IT and Insurance

In an industry as detail-oriented and data-focused as insurance, there’s a huge opportunity for dynamic, innovative IT experts to drive change across the map. Companies are increasingly demanded by competition and savvy customer bases to maximize their customer-centricity, self-service availability, and omni-channel experience—and that’s just to maintain their customer base. To optimize performance, organizations must also streamline with AI, manage multi-cloud data solutions, and enable trustworthy data sharing with Blockchain and Web 3.0. Efficiency is key to optimized performance and maximized bottom line, and IT and automation are key to efficiency.

The Benefits of an IT Career in Insurance

Aside from being responsive to a clear demand, as illustrated above, there are some career benefits that are distinct to the insurance industry.

#1. Job Stability and Growth Opportunities

Historically, the insurance industry has proven remarkably job-stable. No matter the state of the economy, even during a recession, people need protection from risk. Because it’s been a steady career choice for decades, an unusually large portion of the workforce in insurance is reaching retirement age, presenting opportunities for growth. Major industry players are adapting to new ways of business, introducing departments focused on specific tech niches like CX, infrastructure, and more. By joining up with these organizations as they embark on this trajectory, you can ensure a position ripe for strategic growth as the department expands.

#2. Competitive Salaries and Compensation

IT Insurance roles are in high-demand in an established field—this can naturally mean that they’re compensated quite attractively. Major job and salary search engines expect that compensation will be on par or higher with other specialized technology-focused jobs, with the added benefit of being part of a stable company. This means no start-up struggles for fair benefits, stock options, PTO packages, and more—with huge opportunity for salary growth as you develop along with the company’s tech innovation.

#3. Diverse Roles and Responsibilities

No matter your particular IT skillset, there’s likely a spot in the insurance industry for you. Here are a few roles that illustrate the variety of interests available:

1. Privacy Experts: With smart cars tracking dozens of points of data that benefit both automakers and insurers alike, privacy will become a key point of legal and regulatory contention that insurance companies will want to stay ahead of. If you’re skilled in data science and security, and have a passion for customer advocacy, this is an ideal role.
2. Drone Pilots: Natural disasters are on the rise, and insurance companies need to assess damage safely to move claims. If you’ve got a drone hobby and a desire to help those in need, check out this career path.
3. Sharing Specialist: car sharing, short term rentals, and more are driving a new cooperative economy. Insurance companies will need to understand consumer trends in the sharing economy to provide adequate insurance coverage. If you enjoy solving challenges within cutting-edge trends, this is a path for you.
4. Cyber Investigators: Insurance adjusting has come a long way since the days of a physical visit to assess damage. Client apps make it easy to upload photos of damage, but someone still needs to investigate those claims. Everything from security camera footage to cell phone tower pings can be utilized to assess a claim, so if you love detective work, this could be right up your alley.
5. Mobile Experts: The world is run on cell phones these days, so if you know your way around Apple, Google, and Android, you’ll be in hot demand. You’ll be integral to a seamless customer experience.

Specialization and Support

While the jobs outlined above are broad categories, you can also focus on specific specializations within insurance IT. A dedicated IT staffing support organization like TeamSoft can help you find ideal roles within specific areas of specialization. We have expert knowledge in such targeted roles as data analyst, IT development, IT security, scrum master, and more. When you partner with us, we’ll help you highlight your experience and work history to specifically appeal to those areas of expertise, making your chance of placement in those specialized areas much more likely.

Once you have your foot in the door of one of the many reputable organizations we have trusted relationships with, the opportunities for career progression are endless. Senior level and leadership roles within insurance IT are in some cases established and ready for someone with those high-demand skills to fill them, and in other cases still being developed and ready for your expert input on exactly how they should function.

The First Steps

If you’ve already got a background in IT, the first step to moving into the insurance industry is savvy job searching and networking. Industry-specific job search engines like iHireInsurance and Insurance Journal are great places for filtering exactly what you’re looking for, and groups like the International Association of Insurance Professionals has chapters all over the country that hold regular networking meetings. By building a presence with these professionals, and making a targeted search effort, you’ll increase your chances of joining this growing career segment.

Become an IT Insurance Expert—Let TeamSoft Help

A career in insurance IT is clearly a promising area to move into, with room for professional development, excellent compensation and benefits, and a major, high-demand growth trajectory. TeamSoft is your go-to partner for finding exciting IT roles in insurance. Take the first step towards your new career move. Reach out now and let us help you find the perfect job opportunity.