Insurance broker
Also known as: insurance seller, household insurance broker, insurance sales advisor, retail insurance broker, property and casualty insurance agent and broker, insurance sales agent
About this occupation
Insurance brokers promote, sell and provide advice on various insurance policies such as life insurance, health insurance, accident insurance and fire insurance to individuals and organisations. They also work as intermediaries between individuals or organisations and insurance companies, and negotiate the best insurance policies for their clients, arranging insurance cover where needed. Insurance brokers engage with new prospective clients, provide them with quotes for their policy needs, assist them in the signing of new insurance contracts and propose specific solutions to their specific problems.
Essential skills and knowledge
- actuarial science
- insurance law
- principles of insurance
- calculate insurance rate
- insurance market
- prospect new customers
- create insurance policies
- claims procedures
- types of insurance
- sell insurance
- advise on financial matters
- compare insurance products
Typical tasks and preparation
From the related US occupation profile Insurance Underwriters (O*NET 13-2053.00). Linked by an official crosswalk: related, not identical; details vary by country.
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
- Decline excessive risks.
- Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
- Typical education (US)
- Bachelor's Degree
- Preparation
- Job Zone 4 of 5
- Interests
- Conventional, Enterprising, Investigative
Top skills: Reading Comprehension, Active Listening, Writing, Critical Thinking, Speaking, Judgment and Decision Making
US median pay: US$81,370 a year (2025), 105,420 employed. Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics.
Subjects this work relies on
How important each subject's knowledge is in the job itself, rated by people doing it (1 to 5).
- English or Literature in EnglishO*NET: English LanguageVery important (4.0)
- Mathematics or StatisticsO*NET: MathematicsImportant (3.3)
O*NET data describe work in the United States; requirements differ by country. This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET is a trademark of USDOL/ETA. CareerProof Global has modified all or some of this information; USDOL/ETA has not approved, endorsed, or tested these modifications.
Preparation needed
Job Zone Four: Considerable Preparation Needed
- Most common education (US)
- Bachelor's Degree
- Education
- Most of these occupations require a four-year bachelor's degree, but some do not.
- Experience
- A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
- Training
- Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
O*NET data describe work in the United States; requirements differ by country. This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET is a trademark of USDOL/ETA. CareerProof Global has modified all or some of this information; USDOL/ETA has not approved, endorsed, or tested these modifications.
Related occupations
Occupations O*NET links to this one by similar work, skills and knowledge.
- Financial Risk Specialists
- Credit Analysts
- Loan Officers
- Claims Adjusters, Examiners, and Investigators
- Personal Financial Advisors
- Securities, Commodities, and Financial Services Sales Agents
- Loan Interviewers and Clerks
- Financial and Investment Analysts
- Credit Counselors
O*NET data describe work in the United States; requirements differ by country. This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET is a trademark of USDOL/ETA. CareerProof Global has modified all or some of this information; USDOL/ETA has not approved, endorsed, or tested these modifications.