Insurance Is a Highly Rewarding Profession for Highly Educated People

INSURANCE IS A HIGHLY REWARDING
PROFESSION FOR HIGHLY EDUCATED PEOPLE
The father of the Nation, Quide-azam Muhammad Ali
Jinnah while addressing students at Edward College
Peshawar stated.
``
I, entirely believe that instead of turning more clerks and
government servants, your college is now offering suitable

students which, would enable them to take their place in
commerce, trade, industry, banking and insurance business,
it should be the aim of our colleges to produce experts, only
thus shall we be able to raise the standard of living
especially of the common man..`
Honorable judges and auspicious audience, this clarion call
of the Father of the Nation is my beacon of inspiration for
speaking in favor of the notion.

Before discussing Insurance as a career, let's take a briefglimpse at Insurance.
The main concept of insurance that is of spreading risk has
been as long as human history, whether it was hunting a
giant elk in a group, to spread the risk of being the one
gored to death

Or shipping cargo in several different caravans to avoid the
risk losing the whole shipment to a rouge tribe
People have always been vary of risk.
Way back in Babylon times around 2100 BC, King
Hammurabi stone carved the first basic insurance
manuscript for ancient traders.
In Pakistan,over the years the fatalism enjoyed by Islam
has been reinforced by a more pragmatic mechanism,
offering various degrees of financial protection, on the
basis of assumption, that where as it may be advisable to
submit unquestionably to the will of God, one should not,
necessarily be out of pocket as a result.
Regarding world Insurance statistics issued by Swiss Re
and IMF for 2008.

Total gross global Insurance premium in 2008 was 4.270
trillion Dollars, accounting for more than 6 percent of
global GDP, with a growth of 11 percent per annum, and
with an employee port folio of more than 2 Million
Along with new fertile avenues of banc assurance and e -
commerce, yet to be explored in true letter n spirit.
To cater for this rich and growing market new endeavors in
Insurance Education have been initiated in Pakistan.
By the grace of Allah and with the support of University of
Punjab and Insurance association of Pakistan, Hailey
College of banking and finance and College of Statistical
and Actuarial sciences, commenced education for
producing duly qualified students to serve the insurance
industry, in a befitting manner. Offering
Bachelors and Masters in insurance and risk management
There is a growing need for these graduates within the
country and in the Middle East, as the slogan goes
preparing locally for global jobs.

Further more the fellowship and society of actuary
highlight the zenith of insurance industry offering one of
the highest paid salary structures, in the world,, duly
followed by ACII and CII.
Executive, occupations compromising the insurance
industry are as under
· General Managers and top executives.
· Insurance underwriters.
· Claims examiners.
· Medical Case Managers.
· Financial advisers.
Let us concentrate, all the above executive positions

encircle all the top class professionals, ranging from
doctors, engineers, chartered accountants lawyers, actuaries
and MBA, s.
I suppose no other industry absorbs such diverse range of
professionals as insurance does.

Hence by default, reinforcing the concept that insurance is
a highly rewarding profession for highly educated people
Let us be unbiased for a moment,and look around us
people who are at the top and middle level executive
positions in insurance industry today, had a humble start a
decade or two back,
But today without doubt they proudly bask in the light of
highly paid and rewarded professionals in Pakistan, with a
bight future ahead of them year by year.

In English there is a proverb
There comes a tide in affairs of men, which when taken at
flood, leads to fortune
Surely Insurance is the rising tide of Pakistan, and
surely those who would ride it today would
InshaAllah rise with it
Honorable judges I would like to end on a lighter note, as
they say
LOVE IS THE ONLY KIND OF FIRE THAT IS NOT
COVERED BY INSURANCE EVERYTHING ELSE IS
Thank you Sir

About the Author

Dr Azfar Malik
Health Insurance Professional