Going out at the weekend? Playing sport with your mates? Catching a bus? Everything you do is risky! And some things are more risky than others.
Insurance is all about sharing risk with someone else – it’s like being in a community. So if something unexpected happens, insurance gives you financial protection and allows you to get on with your life.
Everything and anything can be insured, from a car or a home to a footballer, a fleet of aircraft, space satellites or even someone’s taste buds!
Insurance companies are experts in understanding and assessing different sorts of risk.
Of course, you have to pay for this protection. A premium is the amount of money it costs to cover the risk. It might be less than £100 for a single mobile phone or billions of dollars for a global mobile phone operator.
The UK’s insurance sector is one of the most successful in the world, and manages trillions of pounds invested in assessing and managing risk. Its expertise is in understanding special risks (think guitar players’ fingers and film stars’ looks) and its specialist knowledge can help countries around the world when major natural disasters strike, such as earthquakes and hurricanes.
What could you do?
There’s a massive selection of stimulating careers in risk and the financial rewards are great. You might like working with data or prefer working with people.
Are you shy or more outgoing? Do you like travelling or prefer your own desk? Lots of major international companies have Apprenticeship programmes, from AON to Zurich. So you can learn while you earn!
The most important thing is to understand what your strengths are – there will be a role that’s right for you.
If you prefer the idea of working in a small business, you can do that too. In fact, the majority of apprentices work in small companies.