Insurance Broker

Operates as an independent agent to sell life, fire, accident, industrial or other forms of insurance for a range of insurance companies. Registration or licensing may be required.

Tasks

monitoring commodity prices, trends and other factors affecting the supply and demand for commodities
negotiating the purchase and sale of commodities such as grains, wool, minerals and metals
determining the specific financial and insurance requirements of clients, and researching and reviewing available finance and insurance products for suitability to meet clients’ requirements
analysing clients’ financial status, discussing financial options and developing financial strategies
recommending loan combinations that meet clients’ needs
interviewing prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and to make recommendations on the amount and type of cover
arranging insurance, home loan mortgages and other types of finance for clients through banks, lenders, financiers and insurance companies
preparing documents which set out the conditions of finance, repayments and loan periods
identifying and advising on significant risk changes to clients’ insurance
broking complex and commercial leases, equipment finance, commercial finance, project finance and finance for property developers

More Info

An Associate Degree, Advanced Diploma or Diploma, or at least 3 years of relevant experience is usually needed. Many Financial Brokers have a university degree. Sometimes experience or on-the-job training is needed in addition to a qualification. Registration or licensing may also be required.

Tertiary Education Providers

NSW