Submitted by: Suresh
I am Suresh and working as a Software Tester. I work on Insurance applications (all are web based applications).
I have finished INS-21,22 and about to take INS-23.
After these, would course should I take – Underwriting related corses or
LOMA (Life Insurance related courses)
Seems, many Insurance companies do commercial Lines business.
Any advice would be great for my career.
Thanks,
Suresh
{ 3 comments… read them below or add one }
First, you need to decide if you are going to be working in Life, or in Property and Casualty. They’re both insurance, but they’re really two entirely different business arenas with very little crossover. So, pick one
.
In terms of LOMA vs. underwriting related, that’s a tough one. Underwriting courses would seem to be generally more valuable but would have precious little application on anything web based. So for long term career movement, take underwritng courses. LOMA courses (I have my FLMI) are much more general but really aren’t very valuable. Still, many companies do place some value on having an FLMI – but really only for front line positions. Once you start pushing into management FLMI means nothing. Take the LOMA courses if you’re interested in showing you have some committment to the industry but that’s about it.
Depending on how strong you are at writing exams I would also suggest looking at a couple of entry level actuarial exams. These exams are extremely difficult – many/most people fail them. But if you can manage to pass a couple that will open some doors. Insurance companies like candidates that can pass a few actuarial exams even if the material isn’t directly applicable (which it won’t be since the first couple of actuarial exams are strictly math based).
Thanks a lot Glen.
I will start with Underwriting (which strengthens my INS exams qualification).
And later, I will try actuarial exams.
Thanks for your time.
Suresh
Sorry for the typo – “Glenn”.
Suresh