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Insurance Broker
Insurance brokers liaise between clients and insurance companies, finding the client the best deal for insurance cover. Responsibilities of the job vary according to the size and type of employer: smaller companies offer less opportunity for specialisation than larger firms.
Insurance brokers could work in retail insurance, providing general cover in areas such as property, travel, motor and pet insurance, or in commercial insurance, dealing with more complex, high value areas such as marine, aviation and oil and gas.
Key Task
- Build and maintain business relationships with clients
- Discuss and assess clients' current and future insurance needs
- Conduct research on insurance policies and products
- Negotiate policy terms and costs with insurance providers
- Arrange insurance cover for clients with the insurance provider
- Collect insurance premiums
- Keep detailed computer records
- Prepare reports for insurance underwriters
- Advise clients on making claims on their policies
- Renew or amend existing policies for clients
- Undertakegeneral administrative duties and marketing services
Key Skills
- Excellent negotiation skills
- Excellent time management
- Good decision-making skills
- Good analytical skills
- Pays attention to detail
- Good interpersonal skills
- Excellent verbal and written communication skills
Who are your employers
- Large and small brokerages
- Financial advice companies
- Insurance or reinsurance companies
- Insurance risk management departments
