What exactly do insurance brokers do?

  • Tim Neary | December 13, 2019
What exactly do insurance brokers do?

Insurance brokers act on behalf of their clients, providing professional and technical advice about commercial, corporate and personal insurance products from a range of companies according to their clients' individual needs.

Most insurance brokers sell policies for several companies, says The Good Universities Guide.  

“They may work in city or country areas. Insurance brokers usually work on a commission basis, with the level of business dependent upon the level of general economic activity.”


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It adds that earnings and continued employment largely come down to your ability and your experience.


The duties and tasks of insurance brokers revolve around your clients and their needs. 

In order to do this well, The Good Universities Guide prefers a systematic approach. 

First, it says, draw up a list of potential clients and the mke contact with them to see if they have a need for insurance cover.

“Interview prospective clients to explain the details of an insurance policy and make recommendations on the amount and type of cover that may be required,” it adds.

“[Then] research and review available insurance products to ensure clients are given the best and most appropriate offer.” 

Then it’s time to negotiate policy premiums and conditions with insurers on behalf of clients, and arrange insurance according to their instructions.

But the job doesn’t end there.

“Regularly review client circumstances to ensure their level of cover is appropriate,” it says. 


The Good Universities Guide says that to become an insurance broker, you usually have to complete a VET qualification.

“In addition, several years of experience with a qualified broker are usually required before becoming an independent broker. Entry to these courses usually requires Year 12 and, as a minimum, employment with an insurance brokerage.”


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