Insurance broker

Entry Requirements:

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 training scheme. Relevant degrees include:

• business studies
• finance
• surveying
• engineering

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

Entry requirements:

• 2 to 3 A levels, or equivalent, for a degree

Entry requirements:

Apprenticeship

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

This typically takes about 24 months to complete with a mix of workplace learning and study.

Entry requirements:

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

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

OtherRoutes

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.

Required Skills:

Digital skills : to be able to use a computer and the main software packages confidently

Skills:

• customer service skills
• the ability to sell products and services
• to be thorough and pay attention to detail
• the ability to use your initiative
• persistence and determination
• patience and the ability to remain calm in stressful situations
• excellent verbal communication skills
• maths knowledge
• active listening skills
• administration skills
• knowledge of English language
• the ability to read English
• knowledge of economics and accounting
• the ability to accept criticism and work well under pressure
• excellent written communication skills
• persuading skills
• a desire to help people
• thinking and reasoning skills
• concentration skills
• a good memory

What you'll do:

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

In your day-to-day duties you could:

• gather information from clients to assess their insurance needs and risk
• research insurance policies
• arrange insurance cover for clients
• negotiate the best policy terms with insurers
• renew or change existing policies
• make sure all business and paperwork meets legal requirements
• advise customers who are making a claim
• use IT systems to keep records and prepare documents
• prepare case reports for insurance underwriters and surveyors

Location : You could work in an office.

Salary:

Starter : £20,000
Experienced : £65,000

These figures are a guide

Working hours:

41 - 43 hours a week

Working Pattern is weekends

Career Path:

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.