Operates as an independent agent to sell life, fire, accident, industrial or other forms of insurance for a range of insurance companies. Registration or licensing may be required.
Previously referred to in ASCO as:
3212-19 Insurance Broker
Insurance brokers act on behalf of their clients, providing professional and
technical advice about commercial, corporate and personal insurance products
from a range of companies according to their clients’ individual needs.
How much can I expect to earn?
Full-time employed Insurance Broker earn an average of $1412 per week. The
[average annual salary for this job is $73424 excluding super.]
Personal requirements
aptitude for numbers and calculations
sound judgment
perseverance and motivation
good negotiation skills
strong attention to detail
good communication skills.
This job also involves:
Reading or writing
These jobs require moderate or better reading and writing skills. Workers may
be expected to prepare, understand or act on written materials, such as
letters or reports. People may wish to avoid these jobs if their reading or
writing English skills are limited to a small range of words or phrases and
symbols. Jobs remaining may still require very basic reading or writing
skills.
This occupation offers jobs at the following skill levels:
Para Professional Jobs
Jobs in this group usually require completion of secondary education and/or
completion of some further study of a vocational nature, such as a Diploma or
an Advanced Diploma.
Professional Jobs
Jobs in this group usually require completion of a recognised Bachelor Degree,
or extensive relevant experience. Some jobs also require post-graduate study,
such as a Graduate Certificate, Graduate Diploma or Master Degree.
Study requirements
At school, you can study these subject(s) to get a good foundation for this
occupation:
Mathematics
School subjects that include some aspect of MATHEMATICS provide a useful
background to these jobs. In some cases a mathematics-related subject is a
pre-requisite for entry to courses that provide the training for the job.
Duties and tasks of an Insurance Broker
Insurance brokers may perform the following tasks:
draw up a list of potential clients
make contact with these clients to see if they are interested in insurance
interview prospective clients to explain the details of an insurance policy and make recommendations on the amount and type of cover that may be required
research and review available insurance products to ensure clients are given the best and most appropriate offer
negotiate policy premiums and conditions with insurers on behalf of clients
arrange insurance according to client instructions
regularly review client circumstances to ensure their level of cover is appropriate
market their services to increase their number of clients