Insurance brokers act on behalf of their clients, providing professional and technical advice about commercial, corporate and personal insurance products from a range of companies according to their clients' individual needs.
Personal requirements of a Insurance Broker
- aptitude for numbers and calculations
- sound judgment
- perseverance and motivation
- good negotiation skills
- strong attention to detail
- good communication skills.
Duties & Tasks of a Insurance Broker
Insurance brokers may perform the following tasks:
- draw up a list of potential clients
- make contact with these clients to see if they are interested in insurance
- interview prospective clients to explain the details of an insurance policy and make recommendations on the amount and type of cover that may be required
- research and review available insurance products to ensure clients are given the best and most appropriate offer
- negotiate policy premiums and conditions with insurers on behalf of clients
- arrange insurance according to client instructions
- regularly review client circumstances to ensure their level of cover is appropriate
- market their services to increase their number of clients
- collect premiums on behalf of insurers.