nGInsights: The myth of the big, bad insurance industry

"What do you do?"

I've come to dread that question, which is increasingly common. We're a society of individuals that relate on a personal level with our workplace identities, so the query is all but impossible to avoid.

My dread does not come from a dislike of my work--quite the contrary, I'm very passionate about my career as a communications professional in the insurance industry. What causes my aversion to the occupation question is the difficulty I have in simply explaining my work. First, I have to describe my profession itself, public relations, which is intangible--how do you explain the purpose that media pitches and bylines serve to your 80-year-old grandmother?

Then comes the harder part--owning up to working in the insurance industry. Yes, the confession, admitting to your family and friends that you work in "that" industry. I typically get one of two responses: "Ugh, that sounds so BORING," or "How do you sleep at night?"

Somewhere along the line, insurance got a bad rap. We're likened either to drab number crunchers, trapped in dark cubicles from nine to five, or the negative caricature of the slick used car salesman, unscrupulous and looking to make a quick buck.

I don't get it. Not only has this not been my experience personally, but also, I can't think of a single one of my contemporaries in the industry who fits either of these personas. And I'm not just talking about us happy-go-lucky marketing pros--actuaries, financial analysts, claims reps, IT folks--none of match the stereotypes thrust upon them.

The tarnished reputation of the industry seems to have seeped into the psyche of the nation. We're wary of the motives of insurance carriers, skeptical of the agent down the street, worried about the impact of the next round of government regulation. Our anger with an uncovered health insurance claim might carry over to our opinion of our auto or home insurer.

Like so many others, I didn't pick this industry--I fell into it. An opportunity presented itself at the right time and I took it. No one I've ever met working in insurance claims to have dreamed of working in the industry as a small child. The stories are all similar: it was a family business, it was happenstance, I knew a friend working at XYZ carrier, etc.

And when it comes to marketing professionals in particular, you'd be hard pressed to find a creative type daydreaming about a world of deductibles and reinsurance. Undergrad marketing majors tend to hope to make careers in the "flashier" industries: entertainment, fashion, sports, etc. The Red Sox and Vogue magazine are desirable; Liberty Mutual and Aetna are a bit off the radar.

But regardless of the lack of glamour and the undeserved bad reputation, I've fallen in love with this industry. I find the work interesting; each and every day presents a new challenge. And I feel satisfied knowing that insurance helps people protect the assets they've worked so hard for. I know that I'm not the only industry professional who feels this way--most all of you are familiar with the satisfaction of a job well done on behalf of a client.

So what's the problem? Why the bad rep? It comes down to marketing, and I'm not just saying that because of my career interests. We do a terrible job of promoting ourselves. Insurance is barely a blip on the radar of Generation Y when considering job opportunities. Even in my own case, had it not been for sheer luck, I may not have found this industry that I now call home.

We need to do more, we need to be more proactive. And what we do does not always need to consist of grand gestures or large-scale movements--it's the small stuff that matters. For example, anytime I come across an aspiring marketing pro, I suggest insurance or financial services as a lucrative and interesting field. I also talk up the industry whenever I can, sharing interesting claims stories I've heard, highlighting a fun event I attended or even answering simple questions (i.e. Do I really need renter's insurance?).

So let's get to work--start sharing the passion you have for insurance with others and it will be clear that the stereotypes associated with the industry are unwarranted. Let's start making insurance careers a viable choice, not just luck of the draw, for young professionals.