Insurance Broker

Find out how to become an insurance broker in the finance sector. Get information on wages, job growth, essential skills and qualifications.

Similar job roles

The current average salary of an Insurance Broker is $61,000 - $107,000 annually

Overview

Insurance brokers act on behalf of their client to give specialist advice on insurance. They assess a client’s risk to provide insurance advise based on their needs. In most cases, insurance brokers act on behalf of the client and not the insurer. The industry will grow very strongly over the next 5 years.

Read more about the accounting and finance industry.

Key skills

Insurance brokers act on behalf of the client, determining their financial requirements and risks before suggesting suitable insurance products.

Strong analytical skills with an aptitude for numbers and calculations
Accuracy in compiling data and attention to detail
Sound understanding of finance and mortgage concepts
Excellent negotiating and communication skills
Needs to be reliable, trustworthy and have strong interpersonal skills to build a relationship with clients

Quick facts

The future is bright for insurance brokers with jobs expected to rise from 34,500 in 2017 to 40,200 in 2022. Most brokers are male (63.4%) and have a university degree.

Outlook

Average Hours Worked

40.4 full-time hours per week vs. all jobs average of 40 hours

*Source
Main Industries

Financial and insurance services; wholesale trade; and rental, hiring and real estate services
Average qualification level

31.5% Advanced Diploma/Diploma

* All information on this page has been complied using figures from payscale.com.au and the Australian Government's joboutlook.gov.au - all figures are indications only, and are accurate at time of publication. Please do your own research before selecting a course or career.

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