Thanks to a combination of increased demand, the effects of an aging industry, and a wave of retirement anticipated among baby boomers, the US insurance sector is about to boom.
According to figures from the US Bureau of Labor statistics, early 51 million insurance jobs will be available by 2022 and millennials looking for high-paying jobs in finance could be the ones to fill them.
Insurance has an image problem, however. The vast majority of job seekers say they have never considered a career in insurance, calling it “boring” and “depressing,” according to the results of a 2014 survey by
Insurance Business America.
In that environment, many firms are increasing their salaries, benefits packages and on-site offerings to attract young and talented workers. This week, Forbes counted down the top 10 best places to work in insurance.
They are:
10. Hausmann-Johnson Insurance
This small Wisconsin firm of 68 employees runs the company “like a family” with bi-weekly meetings, group meals and one-on-one lunches with executives. Employees receive 50 hours of training per year and offers flexible scheduling and remote work opportunities.
9. First American Financial
First American provides title insurance and settlement services across the US. Employees are given veterinary pet insurance, access to a subsidized café and onsite services like shoe shining, car washing, dry cleaning and chair massages.
8. Blue Cross and Blue Shield of Vermont
The largest health plan provider in Vermont gives out $7,000 a year in tuition reimbursement, and also designates a “citizen of the year,” who receives $500 to donate to their favorite charity. The company employs 403 people.
7. Hagerty
The classic car insurer employs 693 people, and teaches them to restore antique vehicles through its annual team-building Employee Restoration Project. It also offers courses on car basics and gives staff 16 hours of paid time off per year to be used for volunteering activities.
6. Baldwin
The small insurer gives employees access to a benefit called “Community Service PTO,” which is good for three days of additional paid time off in order to support the charity and service organizations of their choice. Baldwin also gives employees 9.5 paid holidays, 15 days of PTO and up to six weeks of PTO as employees reach various anniversaries.
5. Allianz Life Insurance Co. of North America
Headquartered in Minneapolis, Allianz gives employees two weeks of paid maternity, a 401K plan with a dollar-for-dollar match up to 8% of pay and a 20% discount on the purchase of Allianz stock.
4. Assurance
This insurance brokerage features a “penthouse” floor with de-stressing activities and items such as a Nintendo Wii, AppleTV, locker rooms and fitness equipment. Advancement at the company is celebrated with a bottle of private label champagne and once a year, the staff goes on a trip to places like Wrigley Field, the House of Blues or North Avenue Beach.
3. USAA
The insurer of military families offers childcare centers at its largest posts, all of which are accredited by the National Association for the Education of Young Children. USAA employs 26,267 people.
2. Funder Directors Life Insurance
This offbeat Texas-based insurer provides insurance products for funeral homes, and employees are awarded with sabbaticals every seven years. Employees who have been on the job for at least five years can take one to two weeks of paid leave to devote to personal growth, and employees say their company is invested in their physical and emotional growth as well as their output.
1. Acuity
This Wisconsin insurance company offers unlimited tuition reimbursement, no cap on paid sick days for full-time employees and a 401K plan offering a match of 8% of pay every quarter. Acuity even built a 65-foot Ferris wheel at headquarters, and voluntary turnover is a miniscule 2%.
