Who has better job security now?

It's all about mindset.

It's no secret that successful FSC earn big bucks. The best part is, their earnings are recurring for many years. But perhaps the typical mindset here is job security supercedes earning potential.


The recent economic downturn is an awakening call for Singaporeans. Who has better job security now? The corporate ladder climbers or financial services consultant? When everyone's panicking at the loss of jobs, exprienced FSC are taking holiday breaks with no worries about their income for the next few years.


Insurance sales are not too affected by the downturn, unlike other consumer goods. Insurance is a "need to have", not "good to have". I'd rather spend less on good food and luxuries than sacrifice my insurance. The last thing we all want now is to pay for hefty medical bills if we were to fall sick (what with the Swine flu spreading). In fact, those who does not have medical insurance should really go get one now. You won't know when you'll be out of job, and suddenly be faced with such medical expenses. Double whammy, isn't it?


So really, open up your mind...go find out more about a career in finanical services consultant. Regardless of your decision to join or not, what you will then have is another option you can take on when needed, a backup just in case things don't turn out well for you.


If you're looking for job security, look for one that you don't have to rely on someone else to give it to you. Or take it away from you. I think financial service consultant fits that perfectly.

Insurance Agent as a Career

In this economic downturn, there are many jobs gone, many people jobless, yet there are many people in Singapore shun away from job offer as insurance agent. It is ironic as demand from insurance companies are still there, they are recruiting.
Common reasons for people not to choose this job amongst others are:


■Because an insurance agent earns mainly from commission without basic salary.



■Because many people do not feel comfortable with direct selling, face to face persuasion.



Below are some facts and information about an insurance agent (also referred as Financial Service Consultant):


The Work
An FSC develops and manages relationships with retail/mass market clients. FSC will determine the clients’ risk profiles, understanding each unique individuals' needs, and provide recommendation on the most suitable financial products.


For Financial Service Consultant, extended hours are not uncommon, as they have to fit the potential clients' time for meetings. Some extra hours may also be needed to handle administrative matters, or conduct weekend sales road shows.

Requirements

Working as insurance agent is not as simple as selling insurance policies. Current array of insurance products are more and more complex as many of them also tied to investment instruments. A Financial Service Consultant typically requires a Degree, Diploma or other relevant professional qualifications e.g. the Certified Financial Planner (CFP).


As an FSC gains more experience, he can aspire to manage clients with larger sums to invest (e.g. by progressing to become a Unit Manager), specialize in a product (e.g. pension and retirement planning). Some may move laterally into a complementary area of work (e.g. product structuring, compliance) and yet others may consider launching their own businesses.


Other important skills:

• Possess strong communication and listening skills.

• Have the ability to network and establish relationships with clients .

• Possess persuasiveness, determination and tenacity.

• Possess self-motivation and organisational skills.

• Have high levels of numeracy.

• Be attentive to details.

• Have a target-driven mindset.

• Have confidence and the resilience to cope with setbacks and to survive difficult circumstance.

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How can I get hired?

I really want a job at Sp.ACE! How can I get hired?

Sp.Ace looks for talented people who have a wide range of interests. Most new hires have degrees or significant experience working in a specific field, but they’re not specialists. We look for people with at least one deep area of expertise and a broad reach of other skills and experiences to draw on, whether from past employment experience or personal endeavors.

In addition, great candidates have experience, comfort, and desire for doing their work meticulously. Sp.Ace businesses are highly collaborative, and business typically comprise of people and corporations both locally and overseas.

We hope to find answers to these types of questions: What do you offer? What is your commitment to service? What are your goals? Who else can validate your story? Once we get started in the interview process, we talk to your references, and have enough substantial conversations with you to learn who you are and help you get to know Sp.ACE.

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Hort Park Walk Activity - SP-ACE

HortPark (Chinese: 园艺园林) is a 23-hectare park located in the South-Western part of Singapore. It is the first one-stop gardening lifestyle hub in Asia[1] that integrates a plethora of activities together under one roof in a park setting.

Time: 7th May 6pm
Gathering place: Office, 371 Alexandra Road, #09-02
Note: Wear comfortable clothes, shoes, family memeber are welcome.

Insurance: Skills & Talents

Key Skill Area	Requirement
People skills:	High
Sales skills:	Medium
Communication skills:	High
Analytical skills:	Medium
Ability to synthesize:	Low
Creative ability:	Medium
Initiative:	Medium
Work hours:	35-55/week

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Commentary

The Business is About Risk Transfer

Insurance companies are in the business of assuming risk by writing policies which transfer risks from customers to themselves. This work is challenging, complex and likely to continue to prosper.

There are a Variety of Key Business Areas

Insurance companies are in the business either of providing property and casualty insurance (protect owners of cars, business and homes against loss and injury); life insurance or health insurance.

Insurance is one of Finance's Best Kept Secrets

Insurance may be one of the best kept secrets in the field of finance. Most students do not realize the high growth and enormous potential for personal development and advancement that this field offers.

People-oriented Types Who Can Listen Do Well

The field of insurance and risk management is well-suited for those who are good listeners, who enjoy people and are comfortable with quantitative analysis of risks.

Most People in Insurance Don't Sell

Many people avoid insurance careers because they perceive that the business is about selling and slickness. Certainly, part of the business involves selling but keep in mind that insurance policies help people, especially in times of need. Moreover, most jobs in the field do not involve direct selling.

Careers in Insurance

Did you know that some of the hottest jobs in finance aren't on Wall Street at all? These are jobs in insurance. Insurance is a trillion dollar business that employs more than 3 million people in the United States alone. As the population ages and wealth grows, the demand for insurance professionals will increase dramatically. This is great news for you if you're thinking of going in to insurance. Jobs in insurance involve helping individuals and business manage risk to protect themselves from catastrophic losses and to anticipate potential problems. Work in this area is not only personally rewarding, but can be financially rewarding as well.

Insurance is a stable yet dynamic industry that provides a wealth of advancement and career opportunities. From administrative support to management programs, from sales to information technology, from accounting to customer service ... anything you want to do in business, you can do in the insurance industry!

You will help clients understand their insurance needs, explain their options to them and hopefully help them purchase appropriate insurance policies. You could work in a variety of areas in insurance including as an underwriter, a sales representative, an asset manager, a customer service rep or an actuary. A theme that is constantly emphasized by insurance professionals is that the industry is ultimately about helping people when they need it the most. The stereotype of a slick, sleazy, fast-talking insurance salesman is largely a thing of the past.

Major areas of opportunity include auto insurance, life insurance, P&C (property & casualty) insurance, and health insurance. It's worth noting that private health insurance companies are central to all versions of health care legislation now being proposed in the US. If anything, the health insurance industry is likely to grow in size due to efforts to achieve universal coverage.

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