If you are a bilingual or multilingual individual looking for a job, there is an industry looking for you! You could be an incredible asset for any of the many insurance companies in the United States. The demand for people with language skills among small-, medium-, and large-scale employers in competitive business environments such as the insurance industry is in high-demand and will continue to rise.
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According to a 2018 survey conducted by Ipsos Public Affairs for ACTFL, most employers are reporting more demand for language skills than in previous years. One of the most striking findings was that “nine out of 10 U.S. employers report a reliance on U.S.-based employees with language skills other than English, with one-third (32 percent) reporting a high dependency.” (Page 3, para. 2).
The U.S. marketplace and its workforce are more culturally diverse than ever before. Statistics show that 65 million people that live in the U.S. speak a language other than English, which suggests that employers are frequently dealing with customers, suppliers, or collaborators with different cultural backgrounds and limited English proficiency. This report also points out that the languages in highest demand among employers in the U.S. are Spanish, Chinese (Mandarin and Cantonese), French, Japanese, German, Russian, Arabic, Italian, Korean, Hindi, and Portuguese.
Every day the consumer marketplace is becoming more multilingual and multicultural. Every day more employers are acknowledging the need to address the demand for language skills—especially in businesses where direct communication with customers is fundamental to company revenue growth. The ACTFL survey states that the top two departments in businesses that require employees with valued language skills are customer service and sales. Research shows that the insurance market is an industry that is constantly innovating to satisfy the evolving demands of engaging customers that do not fully command English. It is a challenge for individuals with limited English proficiency to fully understand the details of insurance plans and claims, which could obstruct the progress of a business interaction. As a policy holder, whether it’s home, life, health, automobile, or disability insurance, one expects to get the best offer as well as a quality experience that is generally evaluated based on good communication. For this reason, insurance employers must ensure their agents are capable of delivering sensitive information in a clear and accurate manner to their customers, since miscommunication could lead to losing a sale or end up in a legal problem, among other possibly serious consequences. Additionally, the probability of buying a product increases if the company provides customer support in the customer’s preferred language.
Watch –> Leading with Understanding: Bilingual Insurance Agents Build Strong Working Relationships
If you are bilingual or multilingual, the insurance industry can benefit from your language versatility, and the possibilities for your professional growth are exponentially greater if you use your skills correctly. There are many benefits in the job market for bilingual employees. Bilingualism increases your chances of being hired for an insurance company that does business internationally or with a dedicated department for multicultural consumer engagement, decreasing competition for crucial job roles. Some advantages that come with being bilingual include the opportunity to travel to different locations around the world, the ability to connect on a more personal level with clients that may not command English, and the development of long-lasting business relations. Additionally, your pay rate or salary may grow significantly since you may qualify for different roles in your organization, or you can consider switching companies to increase your income. There are many players in the insurance market! The potential to be successful by utilizing your language skills to advance in your career is limitless. Multilingual people get higher scores on memory tests and are better observers than their monolingual colleagues; these are sought-after qualities in professions within the insurance arena that require employees to juggle conveying detailed information and managing the diverse needs of families and individuals with ease.
If you are a bilingual and enthusiastic professional seeking to become a valued asset to the insurance industry and would like to get certified, contact Language Testing International (LTI). As an exclusive licensee of ACTFL, LTI offers valid and reliable language proficiency assessments and certifications in over 120 languages. An official language certificate also comes with a digital badge issued by Credly that you can display on your resume and on professional networks such as LinkedIn.
Resources:
“Reducing the Impact of Language Barriers”. Forbes Insights. https://images.forbes.com/forbesinsights/StudyPDFs/Rosetta_Stone_Report.pdf
“Survey of 8,709 Consumers in 29 Countries Finds that 76% Prefer Purchasing Products with Information in their Own Language.” CSA Research. https://csa-research.com/Blogs-Events/CSA-in-the-Media/Press-Releases/Consumers-Prefer-their-Own-Language
“Bilingual employees can earn more money per hour than those who speak one language.” Financial Post. https://financialpost.com/personal-finance/business-essentials/bilingual-employees-can-earn-more-money-per-hour-than-those-who-speak-one-language
