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Underwriting Career Perth

Navigating Insurance Underwriting Careers in Perth: Opportunities and Challenges

The insurance industry in Perth, Western Australia, is experiencing a significant demand for skilled professionals, particularly in claims, internal brokers and insurance underwriting. As the sector continues to grow, so does the need for qualified people to service and manage claims. This blog will explore the current job market for insurance professionals in Perth, highlight the challenges in filling these roles, and showcase why Insure Connect Services (ICS) is a viable option for employers and job seekers.

 Key Statistics

The job market for insurance underwriters in Perth is robust, with numerous opportunities available across various platforms. According to SEEK, there are currently 100 insurance jobs listed in Perth, ranging from entry-level to senior positions. Glassdoor reports that the average salary for an internal broker in Perth is approximately A$93,000 annually, with the highest salaries reaching up to A$98,500. PayScale provides additional insights, indicating that entry-level positions with less than one year of experience can earn around A$57,465 annually. In contrast, those with more experience can earn significantly more.

 Challenges in Filling Insurance Positions

Despite the abundance of job openings, filling insurance positions in Perth presents several challenges:

1. Skill Set Requirements: Insurance requires a unique blend of analytical, mathematical, and communication skills. Candidates must assess risks, analyse data, and make informed decisions. This specialised skill set can be challenging, particularly among entry-level candidates.

2. Experience Levels: Many employers seek candidates with prior experience in underwriting or related fields. This preference for experienced professionals can create a gap between the supply of qualified candidates and the demand for these roles.

3. Competition from Other Regions: Perth competes with other major cities in Australia for top talent. Cities like Sydney and Melbourne often attract candidates due to their larger job markets and higher salaries, making it challenging for Perth-based companies to attract and retain skilled underwriters.

4. Technological Advancements: The increasing use of technology and automation in underwriting processes can pose a challenge. While technology can streamline tasks, it requires underwriters to be proficient with new tools and software, adding another layer of complexity to the hiring process.

Why ICS is a Viable Option

Insure Connect Services (ICS) is crucial in addressing these challenges by providing specialised administrative and outsourcing staff for insurance brokers and Agencies. Here’s how ICS can benefit both job seekers and employers:

1. Streamlined Operations: ICS offers comprehensive solutions to streamline operations, allowing insurance professionals to focus on core business activities while ICS handles talent management efficiently.

2. Expertise and Experience: With over 25 years of experience in the insurance industry, ICS brings a wealth of knowledge and expertise. This expertise can be invaluable for employers seeking to optimise their operations with the best skills

3. Cost Reductions:  The ICS model allows saving up to 50% on current salaries. Using geolocated resources to work remotely achieves this without compromising skills and productivity.

4. Scalability and Flexibility: ICS provides scalable and flexible solutions tailored to each client’s unique needs. Whether a small brokerage or a large Agency or Insurer, ICS can adapt its services to support growth and changing business requirements.

 Opportunities and Growth

The insurance field in Perth offers numerous opportunities for career growth. Entry-level insurance positions in Perth provide a solid foundation for newcomers, with ample room for advancement as they gain experience and expertise. Professionals can progress to senior roles, management positions, or specialised areas such as reinsurance, corporate, marine or product innovation.

Moreover, the insurance industry in Perth is known for its supportive work environment and commitment to professional development. Companies often invest in their employees through continuous training and development programs, ensuring staff have the skills to adapt to industry changes and advancements.

Perth’s insurance sector is ripe with opportunities for experienced professionals and those new to the field. However, the challenges in filling these roles highlight the importance of specialised support and services. Insure Connect Services (ICS) is a viable option for addressing these challenges. It provides innovative solutions and expertise to help insurance brokers and agencies streamline operations and enhance competitiveness. Employers can leverage ICS’s services to optimise their operations, freeing time and resources to focus on core business activities. To learn more about insurance careers and ICS’s services, visit InsureConnect.au today.

 About ICS

Insure Connect Services (ICS) offers specialised administrative outsourcing services for the insurance industry. With over 25 years of experience, we provide skilled global talent for tasks like policy administration, claims handling, and customer service, primarily using a remote team from South Africa. Unlike other traditional outsourcing providers, this geographical setup allows us to offer services at a significantly lower cost with significantly higher skill sets. The tour model makes our staff part of your team and increases business efficiency by enabling insurance brokers to focus on their core activities while ICS handles the administrative functions.