How to become a better insurance broker

  • Tim Neary | December 11, 2019
How to become a better insurance broker

There are routes into a career as an insurance broker for both university graduates and school leavers. 

For graduates, a degree in any subject is acceptable, although business and management related degrees or numerical degrees, such as economics or maths, may be beneficial.

This is according to Target Jobs, who adds that having a degree sets you up for a good career. 

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“You have the opportunity to join the graduate scheme of a large insurance broking firm, although these are often very competitive,” it says.  

“Postgraduate insurance and risk management qualifications can be advantageous.”

Experience

School leavers are taken on as trainees in lesser roles, and work their way up as they get more qualified and experienced. 

“Some firms also offer apprenticeships in insurance,” says Target Jobs. 

“Relevant banking and/or insurance experience gained via internships and work experience placements can be useful.”

Target Jobs says the key skills for insurance brokers vary, but are focused on interpersonal discipline and numeracy.

Clients

They include confident negotiation, reliability, excellent time management and decision making and also cover good analytical skills, accuracy and attention to detail as well as strong verbal and written communication ability.

“Insurance brokers liaise between clients and insurance companies, finding the client the best deal for insurance cover,” it adds.

“Responsibilities of the job vary according to the size and type of employer: smaller companies offer less opportunity for specialisation than larger firms. You 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.”
 

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