Career outlook for insurance broker
UK Salary Ranges
Currently employed in Scotland
What's it like?
You would get the best deal to protect people and companies financially against accidents and problems.
People will trust you to find the best, value-for-money insurance policy for them and their circumstances.
If you work in retail insurance you would find car, home, life, pet and travel insurance for individuals. You’d organise insurance for companies to protect its property and any unexpected interruptions to business.
In commercial insurance you'd deal with more complex high value situations. This could mean working for companies in the marine, aviation, oil and gas and financial industries.
It also includes unusual requests, like insuring sportspeople and celebrities.
- Check your client’s needs and assess their risks
- Compare features, level of cover and price of different insurance policies
- Negotiate the best policy terms with the insurers
- Arrange insurance cover for your client
- Renew or change existing policies
- Make sure that the insurance cover meets legal requirements
- Collect insurance premiums and process accounts
- Advise customers who need to claim on their insurance policy
- Keep detailed records using computer systems
- Issue documentation
- Prepare reports for insurance underwriters and surveyors in complex cases
You would offer products from more than one insurance provider, so your advice must be impartial. You’d need to keep up to date about insurance products and financial markets.
UK employment status
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- Building relationships
- Verbal communication
- Written communication
- Working with numbers
- Attention to detail
- Developing a plan
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