Insurance broker

• Customize insurance programs to suit individual customers, often covering a variety of risks.
• Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policies, such as marine, farm/crop, and medical malpractice.
• Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
• Perform administrative tasks, such as maintaining records and handling policy renewals.
• Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
• Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.
• Confer with clients to obtain and provide information when claims are made on a policy.
• Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.
• Contact underwriter and submit forms to obtain binder coverage.
• Select company that offers type of coverage requested by client to underwrite policy.
• Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
• Develop marketing strategies to compete with other individuals or companies who sell insurance.
• Calculate premiums and establish payment method.
• Attend meetings, seminars, and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts.
• Monitor insurance claims to ensure they are settled equitably for both the client and the insurer.
• Plan and oversee incorporation of insurance program into bookkeeping system of company.
• Inspect property, examining its general condition, type of construction, age, and other characteristics, to decide if it is a good insurance risk.
• Install bookkeeping systems and resolve system problems.
• Explain necessary bookkeeping requirements for customer to implement and provide group insurance program.

Insurance brokers typically work around 41 to 43 hours per week.

As a Insurance broker you will typically work weekends.

This occupation tends to be:

• Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
• Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
• Social — Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

Integrity Job requires being honest and ethical.
Independence Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
Attention to Detail Job requires being careful about detail and thorough in completing work tasks.
Achievement/Effort Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Dependability Job requires being reliable, responsible, and dependable, and fulfilling obligations.

42,248 GBP

per year *

16,000 GBP

80,000 GBP

* data taken from the Office of National Statistics ()

Average salary for part-time Insurance broker

Limited job growth or decline expected within the next year. Fewer openings, so job seekers may face competition and may consider related fields for more stability.

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