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The finance and insurance industry is comprised of companies that are primarily interested in financial transactions and facilitating financial transactions. There are three types of activities that are typically identified as being a part of the finance and insurance Industry. One is raising funds by taking in deposits or issuing securities and in this process incurring liabilities. Companies use raised funds to acquire assets by making loans or purchasing securities. They put themselves at risk as they transfer funds from lenders to borrowers. This is commonly known as financial intermediation. Another is pooling risk by underwriting annuities and insurance policies. Companies collect annuity considerations, fees, or insurance premiums to build up reserves and then invest those reserves to make contractual payments. Finally, the third is to provide specialized services that support employee benefit programs, financial intermediation and insurance.
Employment within the finance and insurance industry can be broken down into several main job titles including accountants and auditors, Insurance sales agents, loan officers, tellers and securities, and financial services sales agents. Most people that work in the industry work as brokerage clerks, auto damage insurance appraisers, insurance policy processing clerks, insurance sales agents, loan officers, personal financial advisors, securities and commodities traders and new accounts clerks. However, the industry can also be found in careers like bioinformatics technicians, computer systems analysts, credit checkers, credit counselors, fraud examiners, investigators and analysts or government property inspectors and investigators.