CHICAGO—Job growth is something everyone is concerned with these days, and that can be a particular concern for students about to graduate college and looking to break into the workforce, including the insurance industry.

With an abundance of competition, college graduates need to differentiate themselves from other students and industry veterans seeking jobs, a group of soon-to-graduate college students said during interviews at the Katie School of Insurance and Financial Services 20th annual Insurance Executive Forum.

“There's definitely a diverse group of people trying for the same jobs and it's not easy as a young adult going into the (job market),” said Drew Hannan, 21, a senior at Illinois State University's Katie School. “It's a tough task for all (upcoming graduates) going into the unknown.”

Mr. Hannan was part of a group of seven students from the Katie School that attended the Chicago gathering last week. After the panel discussion, the students described different opportunities that the world of insurance and risk management can offer and why they chose to go into it.

They also talked about how they are using real data from the current soft market in the classroom, learning what it takes to be competitive from an insurer's perspective and what to look for from the buyer's end to ensure they get the best product for their needs.

Through their education, the students said they also found that being a risk manager is more than just being an insurance buyer; analyzing loss trends and understanding risk also are part of the job.

“Being an insurance buyer is just a small role that risk managers have. They have to look at the big picture,” said Keith Gallagher, a 21-year-old senior at the Katie School. “We've learned that risk management requires us to look at some of the most abstract things that can happen....You have to understand those risks.”

It's the diversity of the insurance industry that attracted several of the students to study it and seek jobs within it. They also said the industry offers an opportunity for growth and development in a job climate that appears stagnant.

“It's a very diverse industry,” said 21-year-old senior Rebecca Kagan. “There are jobs like being a broker that allow you to be more personal with clients and there are some more behind-the-scenes roles like underwriters.”

Elyse Klimek, 22, said landing a job in the insurance industry with an insurer or broker or in risk management requires students to “distinguish themselves” from one another and that researching companies to find areas to which they can apply their expertise is important in the job search.

Attending events like the Insurance Executive Forum gives Katie School students a leg up in terms of networking, the students said. It also allows them to get an idea of what is taking place in the industry as well as meet prospective employers face to face.

“Sometimes, our professors don't know if we're ready to talk about some of the real issues that are going on right now (within the insurance industry), but attending events like this allow us to spark that conversation in the classroom,” said Jake Timmins, 21, a senior at ISU's Katie School. “It also encourages other students to go to events like this.”