The vice president of Lockton Companies, the world’s largest privately owned, independent insurance brokerage firm, has described the insurance industry as a “hidden gem” that is often overlooked but could be perfect for many Forces leavers looking to transition to a new career.
Lockton VP Henry Dyson also served in the Army between May 2004 and September 2008 as a company operations officer in the 1st Battalion, The Princess of Wales’s Royal Regiment.
He said: “I always recommend the insurance industry to anyone that I know who is leaving the Forces as I feel that the industry requires our skillset and is very complementary to the work that goes on within the industry.”
The insurance industry provides a massive 25% of the net worth of the UK. There are many roles within the field, but two of the most important are those of the broker and underwriter. Brokers serve as intermediaries between the insurer and their clients, while underwriters look at risks, price policies and accept or decline applications.
Mr Dyson said: “The combat between the two roles is constant, both rely on each other, and it makes for a very entertaining industry indeed.
“Insurance is an industry that very few people seem to seek out. It's one of those that you stumble upon and keep quiet about as it’s a bit of a hidden gem. Once you find it, you want to keep it to yourself.”
Mr Dyson also gave some advice for service leavers looking to enter the insurance industry. Networking is key, he said. Prospective candidates should also research individuals and roles and prepare a CV that flags up their key skills, capabilities and achievements. They should also start to learn the language and jargon associated with the industry.