Insurance Broker
Insurance Broker
Career Overview
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.
Education
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.
Future Outlook
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 Environment
Work takes place in a conventional office setting.
Recommended High School Courses
- Business
- Writing
- Public Relations
- Computer Applications
- Mathematics
- Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
- Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Coordination - Adjusting actions in relation to others' actions.
- Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Mathematics - Using mathematics to solve problems.
- Negotiation - Bringing others together and trying to reconcile differences.
- Persuasion - Persuading others to change their minds or behavior.
- Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
- Service Orientation - Actively looking for ways to help people.
- Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
- Speaking - Talking to others to convey information effectively.
- Time Management - Managing one's own time and the time of others.
- Writing - Communicating effectively in writing as appropriate for the needs of the audience.
- Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Communications and Media - Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
- Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Transportation - Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
- Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
- Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
- Near Vision - The ability to see details at close range (within a few feet of the observer).
- Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
- Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
- Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
- Speech Clarity - The ability to speak clearly so others can understand you.
- Speech Recognition - The ability to identify and understand the speech of another person.
- Written Comprehension - The ability to read and understand information and ideas presented in writing.
- Written Expression - The ability to communicate information and ideas in writing so others will understand.
- Customize financial products or services to meet customer needs.
- Sell products or services.
- Explain financial information to customers.
- Maintain records of sales or other business transactions.
- Take product orders from customers.
- Develop professional relationships or networks.
- Identify potential customers.
- Gather customer or product information to determine customer needs.
- Prepare sales or other contracts.
- Develop marketing plans or strategies.
- Review accuracy of sales or other transactions.
- Calculate costs of goods or services.
- Process sales or other transactions.
- Examine condition of property or products.
- Attend events to develop professional knowledge.
- Study product information to acquire professional knowledge.
Schools
Schools
Florida State University
Georgia State University
Pennsylvania State Univer...
Saint Joseph's University
Temple University- Main C...
University Of Georgia
University Of Pennsylvani...
University Of Wisconsin-...
British Columbia Insti...
British Columbia Insti...
Centennial College
Conestoga College- Doo...
Fanshawe College- Lond...
Macewan University- Ci...
Mohawk College- Fennel...
Seneca College- Newnha...
Potential Scholarships
Ache Police Officers And...
Aqha Region 1 Quarter Hor...
- Creditcardgenius 2020 S...
- Haywood | Hunt & Associ...
Approx Salary Expectation
Currency:
Low End:
$36,000.00 /yr
Avg/Med:
$64,000.00 /yr
High End:
$125,000.00 /yr
References
Trend Analysis - Explorer the Market, Labour Market Information, Government of Canada https://www.jobbank.gc.ca/trend-analysis.
PayScale, Inc., https://www.payscale.com/.
WorkBC's Career Trek, http://www.careertrekbc.ca/.
O*NET OnLine, National Center for O*NET Development, https://www.onetonline.org/.
PayScale, Inc., https://www.payscale.com/.
WorkBC's Career Trek, http://www.careertrekbc.ca/.
O*NET OnLine, National Center for O*NET Development, https://www.onetonline.org/.