Insurance Broker

Description:

Insurance brokers act as an intermediary or let say the middle man between clients and insurance companies.

Facts:

Insurance brokers are independent and offer products from more than one insurer to ensure that their clients get the best deal.

The various kinds of insurance that can be handled by Insurance brokers include:

• Life Insurance
• Property (fire and damage) Insurance
• Motor Insurance
• Employer and product Liability

Personal Qualities:

• Ambitious, enthusiastic and motivated
• Good communication skills
• Honesty and integrity
• Good Negotiating skills

A Typical Day:

A typical day for an Insurance Broker may include

• Gathering information from clients and assessing their insurance needs and risk profile
• Marketing and acquiring new clients
• Advising clients on risk management
• Inputting data to a computer system, issuing documentation and keeping detailed records

Entry Requirements

Opportunities to start out as a trainee broker or a junior account handler are available. Most employers do require a minimum of GCSEs (A-C) in maths and English. Other entry opportunities include:

• A Levels or equivalent qualifications to get into management training schemes
• A degree, particularly a business or maths related degree can get you into a large Insurance broker firm’s graduate training scheme
• Through joining an apprenticeship in Providing Financial Services

Source: https://nationalcareersservice.direct.gov.uk and http://www.prospects.ac.uk/