Insurance brokers provide insurance quotes via phone, online, or in-person. They must assess consumers’ individual needs prior to providing quotes and may need to conduct valuations of properties or businesses to be insured. They may also take photographs, obtain inspection reports, and compare coverage plans of different insurers. They must always try to secure the best rates without sacrificing quality (above-average ratings by third-party institutions) for their clients and must always be fair, ethical and unbiased in their work.
Insurance brokers often work as agents of large insurance companies or independently; in either case, they work directly with clients and must have necessary licenses in their states of employment. Some insurance brokers may also need to pass series 6 and 7 exams administered by the Financial Industry Regulatory Authority (FINRA), a government agency.
Labour demand and labour supply are expected to be broadly in line for this occupation group over the 2019-2028 period at the national level.
Work takes place in a conventional office setting.