Insurance broker, sales

Uses in-depth knowledge to assess risks and requirements and pinpoint appropriate insurance policies that would benefit individual clients.

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Job description

Acting as an intermediary between clients and insurance companies, insurance brokers use their in-depth knowledge of risks and the insurance market to find and arrange suitable insurance policies. Unlike tied agents, insurance brokers are independent and offer products from more than one insurer to ensure that their clients, who may be either individuals or commercial businesses and organisations, get the best deal.

Work activities

  • Selecting companies that offer the type of coverage requested by the client to underwrite policy
  • Selling various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialised policies such as marine, farm/crop and medical malpractice
  • Explaining features, advantages and disadvantages of various policies to promote the sale of insurance plans
  • Customising insurance programmes to suit individual customers, often covering a variety of risks
  • Contacting policyholders to deliver and explain policy, to analyse insurance programmes and suggest additions or changes, or to change beneficiaries
  • Attending meetings, seminars and programs to learn about new products and services, learning new skills and receiving technical assistance in developing new accounts
  • Developing marketing strategies to compete with other individuals or companies who sell insurance
  • Ensuring that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms
  • Monitoring claims to ensure they are settled equitably for both the client and the insurer
  • Performing administrative tasks, such as collecting premiums, maintaining records and handling policy renewals.
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