Life Update and Ladybooz.
Things are good in the World of Erin Kelly. I began working at an insurance broker about a month ago, and I enjoy it quite a bit. I'm pretty sure insurance isn't the way I'd want to go insofar as a career, but it has its perks (aka kick-ass benefits package for me!) and I'm working among some good persons. What I particularly enjoy is that my
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An insurance broker is a bit of a middle-man business. Let's do a simple-terms scenario:
ST's Violin Company has 50 employees. So you need insurance for things like if one of those people gets mangled with a bow, for instance. (Or, if you fire someone and they want to sue you. Different things like that.) Instead of just going to an insurance carrier (like Chubb or Travelers) you'd hire my company to send your application out to market (to lots of insurance carriers) and come back to you with quotes,recommendations, and to make sure whatever policy you end up buying has the right language and coverage that your company specifically needs. In doing so, we retain a percentage of what you pay for your insurance as commission, which is how we all get paid. It also helps out our client because our company name is good (read:reliable) within the market, so carriers are willing to offer good coverage for a more reasonable premium since we're the ones who represent ST Violins instead of just a random individual.
Does this make sense? There's WAY more to it than that, but this is basically what my branch of management liability handles. There's a bunch of other lines of insurance that have different areas of focus, but the concept is about the same. I'm actually enjoying it, though, since I talk to both the clients and the carriers, and it's just interesting to see something get negotiated from a 4 page application to an 85 page policy. Sounds boring, I guess, but it's got a certain amount of charm that's still urging me to get out of bed in the morning. :)
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