WHERE DO INSURANCE SPECIALISTS WORK?
Finding work in the Canadian insurance industry is a smart career option. No one can know when tragedy may strike, so it pays to be prepared. Thus, insurance is a critical component of life for a large percentage of the population.
In response to this, triOS College has developed an excellent Insurance Specialist program. It educates students and provides them with all the tools they need to succeed in their future career. In this program, you receive practical experience, an eight week internship, and lifelong career assistance, among other benefits. For full information about this program, visit our website.
There are a few things you will want to understand as you move down this career path, including information on licensing, location of employment, and expected wages.
The salary you can expect as an insurance specialist in Canada is consistently above the average wage. The average salary of this occupation is $68,775 a year, and applies to full-time employed insurance specialists in Ontario. To help put this in perspective, the average salary listed for all occupations is $61,495, which means that even if your salary for your work as an insurance specialist does not hit the provincial average, it is still likely valued at a higher rate.
In order to continue in a career as an insurance specialist, broker, et cetera, all individuals have to pass certain licensing exams. This includes the Registered Insurance Brokers of Ontario (RIBO) exam, which you will receive training for as a part of triOS College’s Insurance Specialist program. Other licensing bodies and associations include the Insurance Brokers Association of Ontario (as well as the Canada-wide one), the Insurance Institute of Canada, and the Financial Services Commission of Ontario.
LOCATION AND INDUSTRY
You can find work as an insurance specialist or broker in many locations across the country. Simply pay attention to your job search. If there is a location you prefer, try filtering your search there first before expanding.
With that said, some regions have more opportunities for the insurance industry jobseeker than others. In Ontario, the top two regions for employment (as an agent, broker, et cetera) are Toronto region with 50% of the provincial total, and Kitchener/Waterloo and Barrie with 10% of the provincial total. The region with the lowest percentage (coming in at only 2%) is the Muskoka-Kawarthas. Other areas of note for work as an insurance specialist include Ottawa, London, Hamilton, and the Niagara Peninsula.
The major employment as an insurance specialist is within the insurance industry itself (full companies offering insurance, whether it be auto, home, or life). Another major industry that employs insurance specialists and agents is the finance industry. Together, these employ 98% of insurance specialists and agents.
When looking for employment in insurance, the search that will yield the most results is one that focuses on dedicated insurance companies. Some examples of companies that often hire triOS College graduates include HUB International, Hubbard Insurance Group, Orr Insurance &Investment, and St. Andrews Direct Insurance.
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