A Career as an Insurance Broker

By: Sean Rutledge

A career as an insurance broker will provide you with a lot of fields to work within, and the potential to earn a very high income. An insurance broker's earning potential depends upon how hard-working the broker is, and very few careers can match the fast and high earnings a broker can make. The downside is that it can be an extremely exhausting line of work. If the idea of having a career as an insurance broker sounds right for you, below are a few tips for getting your foot on the rung of this particular career ladder.


An insurance broker's primary role is to act as a go-between clients and insurance companies. A broker is expected to assess the needs of their client and arrange the most suitable cover, at the best cost. There are a variety of fields to choose from as an insurance broker, life insurance being the most lucrative.

General role

The general role of an insurance broker is to gather information from clients, to find them the most suitable insurance. Insurance brokers will be required to have good communication skills and be able to advise clients on the most suitable insurance for their needs, such as home insurance or professional liability insurance. They will need to have strong negotiation skills in order to work out the best price with underwriters. They will be expected to advise clients on risk management, such as making their home more secure. They will need to have good office skills such as handling paperwork, correspondence, and other administrative tasks. They will also need to be a go-between for their clients and the insurance broker company if the client needs to make a claim on their policy. A great deal of self-motivation and discipline is also a skill an insurance broker must possess.

Qualifications and licensing required

An insurance broker is required to be licensed by the government before they can approach potential clients. In order to obtain this license an exam must be taken and passed. A broker will also be required to submit information for a background check, to check for any criminal convictions. If it turns out that the broker has been convicted of theft, fraud, or breaking the law in any way, the licensing application may be unapproved. No broker is legally permitted to work without this license. There are specific courses that can help an individual prepare for this exam. Check online or with a job center, for more information on what courses are available in your local area. Regarding qualifications, as a general rule, insurance brokers are expected to have relevant qualifications, such as a diploma in finance services.

Becoming employed

As with any career, a good resume is the first step in finding employment. Make sure your resume reflects your career choice, such as highlighting your ability to be self-motivated. If you are applying for a job as a business insurance broker, for example, tailor your resume to the position. Work out if you wish to be employed by a well-known company, or be a part of small business insurance services. Pick a company that offer some scope for personal improvement, such as learning good sales tactics from your peers.

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Donnelly Insurance Brokers offers insurance broking services for businesses & analysis of insurance products for successful decision making. Their firm regularly assists clients across the entire Adelaide metropolitan and hills areas, plus throughout all regions across country South Australia. Click on their website donnellys.com.au/service_categories/business-insurance/services for more information.

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