WHEN asked about the route to a career in the insurance sector, Yvonne Reilly, education and training officer with the Insurance Institute of Ireland, says the ways in are as varied as the careers.
It's possible to begin in an administrative capacity directly after the Leaving Cert and to complete a series of professional exams set by the Chartered Insurance Institute (CII) in Britain and administered by the Insurance Institute of Ireland. These exams are usually the passport to progress.
On the other hand, you may prefer to do a PLC or third-level qualification before you enter the work force. These qualifications may allow you to avail of exemptions from professional exams.
Brian Greenford, director of risk and insurance studies at UL, which offers a degree in insurance and European studies, says that graduates get substantial exemptions from the CII. It's an internationally recognised course and students are working in places as far-flung as the Cayman Islands, Bermuda, South Africa and Australia as well as at home in Ireland.
The jobs scene is excellent. It's 10 years since the first graduates of the course left UL and every student who wanted a job has got one, says Greenford. Starting annual salaries range from £8,000 to £26,000. It depends on how well graduates sell themselves, he adds. Graduates may find work in areas such as underwriting, loss adjusting, and brokerage. "In the course, we look at the downside of life - what can go wrong and how to sort it out. It's a risk management approach."
The degree includes Spanish, German or French and students may spend some time abroad studying in a corresponding university. UL also offers a bachelor of business studies including risk management and insurance - no language is offered in this programme. Greenford says it's "much more risk management oriented. It would suit somebody who is more mathematically inclined."
There is a wide range of general undergraduate business and commerce courses at third level from PLC, cert and diploma to degree. UCD has just introduced a specialist insurance option in the third year of its BComm.
Professor Ray Kinsella says the college has spent the past five years customising the insurance specialism - working closely with the Insurance Institute of Ireland and industry. The course will be delivered by both industry experts and college lecturers.
Graduates who take the specialism will gain maximum exemptions from the professional bodies. "Employers are looking for rounded graduates but they are also looking for people who can hit the ground running," he adds. Job prospects are excellent - already one company has indicated a willingness to take on between six and 10 graduates.
Whitehall Senior College, Dublin, offers a one-year PLC in banking and insurance. Students sit the Insurance Institute's introductory exam - the certificate of proficiency as well as doing a full NCVA business studies award. There are about 30 places each year and admission is by interview.
College teacher Marie Humphries says the jobs scene is excellent. "This is a phenomenal year. Already, Irish Life and Sun Alliance have come in to talk to our students," she says. Starting salaries are now in the region of £10,000 to £11,000.
