I will never forget the piece of advice that a keynote speaker shared at my first Gamma Iota Sigma (GIS) International Conference. He asked all the students in the audience to lean forward because he was going to let us in on a secret. “You just made the best choice by being here at this conference,” he said. “Working in the insurance industry is the best-kept secret.”
I didn’t think much of it at the time, but as I have grown in my education and my career, this statement has never been truer.
About a year and a half ago, one of my professors approached me with a big idea: to start a chapter of GIS — an insurance, risk management and actuarial science academic fraternity — at my university. Since I had already committed myself to studying actuarial science and I knew I would pursue a career in the insurance industry, I agreed. It would be a great opportunity to develop my leadership skills and add an extracurricular activity to my résumé.
In June 2014, starting a GIS chapter at the University of St. Thomas was only an idea. But by February 2015, it was a reality. In this short time, our chapter has impacted the careers of over 60 students at our university. In addition, it has afforded me the opportunity to hone my leadership and communication skills, network with students and industry professionals from around the country and learn more about the career opportunities within the insurance industry. I got so excited about spreading the word about insurance careers that I ran for and was elected international student representative for the organization. This position has come with a whole new set of exciting opportunities for me to pursue while gaining experiences relevant to my future career.
GIS has enhanced multiple experiences outside my university life. I have been incredibly fortunate to be an actuarial intern for the past two summers at a major property-casualty insurance company, and I’ve received and accepted another internship offer starting in the summer of 2016. Due to my involvement in GIS, I already know many contacts and even other interns who will be around me at this position.
I also studied risk management and insurance in London for a month, and I attribute GIS with providing me with a strong foundation of insurance knowledge that helped me excel in my international studies. While in London, I visited Lloyd’s of London, the very place where insurance started, which was the most incredible experience.
Overall, GIS has been the catalyst for my desire to dive headfirst into a career in the insurance industry. The organization has provided me with invaluable opportunities to meet with industry professionals, network with students with similar career goals and interests, gain applicable skills and, most importantly, develop myself as a young professional.
Looking back, what I received in return from starting a chapter of GIS was so much greater than another line on my résumé. I now consider my involvement in GIS to be the best choice that I have made for my education and my future career.
Not many students realize the extent of the insurance industry and even fewer seriously consider it as a career. Consider this a call to action for all students: explore the careers that the insurance industry has to offer. Insurance companies are multi-billion-dollar corporations that have finance, accounting, marketing, underwriting and claims jobs, and so many others. Jobs in the industry are intellectually stimulating and stable, and all students can find a place in insurance.
The insurance industry is also suffering from a talent gap, and companies are seeking to hire young professionals. Furthermore, with the help of organizations like GIS, students can prepare themselves educationally, professionally and socially to launch into highly successful positions within the industry.
Working in the insurance industry is truly the best-kept secret. I have only dipped my toes in, but I can absolutely attest to the countless opportunities that the industry has to offer.
Sarah Rumon is an actuarial science major at the University of St. Thomas in St. Paul, MN. She is working this summer at Travelers Insurance as an Actuarial and Analytics Leadership Development Program intern.
