The demand for professionals in the global finance and insurance sectors has continued to show growth. As technology advances, the financial management position has evolved to incorporate specialist positions and sectors addressing more than the simple management of funds. The insurance sector has shown tremendous growth resulting in an increased demand for insurance specialists.
The Caribbean offers numerous job opportunities in the insurance sector, and more specifically the captive insurance market. This model of self-insurance underwritten by larger more established insurers offers unique opportunities for growth and career development in a niche market. The post pandemic surge in development and recruitment has opened the job market up for new graduates as well as seasoned professionals looking for new challenges.
From sales representatives developing communication and networking skills to technical specialists and financial professionals, the captive insurance market offers various points of entry to a variety of professionals with various levels of experience.
Why enter the insurance market?
The insurance sector is a robust and secure environment for ambitious, confident and technically proficient individuals looking to broaden their career prospects.
You can develop your existing skill set while learning new skills in a professional and lucrative environment. The insurance sector offers extensive training and development opportunities due to the need for employees to remain up to date with local and international trends, legalities and industry norms.
Due to a current skills shortage in the sector, managers focus on staff retention and development. Businesses place a high value on networking, mentorship, and continuous education through workshops, seminars, and webinars.
A recent poll of in excess of 50 insurance companies with over 285,000 employees revealed that 92% of the companies were currently hiring new graduates as well as experienced professionals. 43 Percent of businesses polled indicated a need to incorporate new employees at least every 6 months.
How to find work in the Caribbean
Online job boards are increasingly popular in Caribbean countries. These internet tools focus the job search by location, sector, adaptability, and company type and provide an overview of the market. In addition to this companies may advertise job positions independently on their own websites and social media pages where interested applicants can submit their applications directly online. Companies with a local presence may hire qualified applicants locally from other islands. Organizations including Scotia Bank, Sagicor, Caribbean Airlines, C&W Communications, and Digicel frequently hire locally where possible.
In the insurance sector, networking is key. Comparatively speaking to their neighbors in North and South America, Caribbean countries are small and who you know often determines where you are offered work. Creating an active current network of professionals assists in securing references and recommendations for future employers.
Foreigners seeking a change in lifestyle frequently travel to the warm Caribbean coastal regions in search of new opportunities. Many of these expatriates are well qualified professionals with experience. Multinational corporations in the region welcome this influx and benefit greatly from the experience and knowledge these candidates contribute to their organizations.
The Insurance industry is a well-established secure job environment with many opportunities for a variety of professionals. The Captive Insurance market in the Caribbean offers excellent opportunities for growth and development for those seeking new challenges.