Insurance broker

Alternative titles for this job include Insurance agent

Insurance brokers use their knowledge of the insurance market to help find the right cover, at the best price, for their customers.

Average salary (a year)

£16,000 Starter

to

£80,000 Experienced

Typical hours (a week)

41 to 43 a week

You could work

weekends

How to become an Insurance broker

You can get into this job through:

  • a university course
  • an apprenticeship
  • working towards the role
  • a graduate training scheme

University

You could take a degree before applying for a place on an insurance company's graduate training scheme. Relevant degrees include:

  • business studies
  • finance
  • surveying
  • engineering

It'll help to get some relevant work experience whilst you're studying, for example through an internship.

Entry requirements

You'll usually need:

  • 2 to 3 A levels for a degree

More information

Apprenticeship

You could get into this this job through an insurance professional higher apprenticeship.

Entry requirements

You'll usually need:

  • 4 or 5 GCSEs at grades 9 to 4 (A* to C) and college qualifications like A levels for a higher or a degree apprenticeship

More information

Work

Employers often prefer to take on trainees with a minimum of GCSEs at grades 9 to 4 (A* to C), including English and maths, and A levels. IT skills are also important.

You would usually start in one of the following jobs:

  • insurance technician
  • junior account handler
  • trainee broker

You could work your way up to broker as you get experience and insurance industry qualifications, for example, through the Chartered Insurance Institute (CII).

The CII qualifications offer study units relevant to the insurance areas you specialise in, for example marine, commercial or general insurance. Examples of qualifications include:

  • CII Level 3 Certificate in Insurance - for trainee brokers
  • CII Diploma in Insurance
  • CII Advanced Diploma in Insurance

Other routes

If you have a degree, you could join a large insurance broking firm's graduate training scheme.

Most degree subjects are accepted, but a business or maths degree may give you an advantage, as there is often a lot of competition for places.

More information

Career tips

You'll find it useful to have experience in office work, sales or financial customer service.

Professional and industry bodies

You could join the Chartered Insurance Institute for professional development and training opportunities.

Further information

You can find out more about insurance careers from the Chartered Insurance Institute.

What it takes

Skills and knowledge

You'll need:

  • customer service skills
  • the ability to sell products and services
  • to be thorough and pay attention to detail
  • the ability to use your initiative
  • the ability to accept criticism and work well under pressure
  • persistence and determination
  • patience and the ability to remain calm in stressful situations
  • excellent verbal communication skills
  • you will be expected to use a computer confidently as part of this job.

What you'll do

Day-to-day tasks

Your day-to-day duties may include:

  • gathering information from clients to assess their insurance needs and risk
  • researching insurance policies
  • arranging insurance cover for clients, and submitting details to insurers
  • negotiating the best policy terms with insurers
  • renewing or changing existing policies
  • making sure the cover and paperwork you provide meets legal requirements
  • collecting premiums and processing accounts
  • advising customers who are making a claim
  • keeping records using IT systems
  • issuing documentation
  • preparing reports for insurance underwriters and surveyors in complex cases

Working environment

You could work in an office.

Career path and progression

With experience, you could move into account handling, claims broking or a business development role. 

You could specialise in an area of insurance, progress into management, or move into other types of insurance work like loss adjusting, underwriting or compliance.

Training opportunities

Apprenticeships In England

Insurance Apprenticeship Programme – Financial Lines (FINMAR)

  • Wage : £365.38 Weekly
  • Location: Ipswich IP1 1TD

Insurance Apprenticeship Programme – Financial Lines (FINEX)

  • Wage : £365.38 Weekly
  • Location: Ipswich IP1 1TD

Courses In England

L3 Certificate in Financial Studies (Yr1)

  • Provider: NEW COLLEGE SWINDON
  • Start date: 04 September 2019
  • Location: Swindon

A - Economics

  • Provider: BACUP AND RAWTENSTALL GRAMMAR SCHOOL
  • Start date: 01 September 2019
  • Location: Rawtenstall

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