insurance broker

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.

Scope note

Includes insurance intermediaries.

Alternative Labels

commercial insurance broker

household insurance broker

insurance agent

insurance broker

insurance intermediary

insurance sales adviser

insurance sales advisor

insurance sales agent

insurance sales consultant

insurance sales person

insurance sales representative

insurance seller

life insurance broker

life insurance representative

personal lines insurance broker

property and casualty insurance agent and broker

retail insurance broker

sales insurance supervisor

Regulatory Aspect

To see if and how this occupation is regulated in EU Member States, EEA countries or Switzerland please consult the Regulated Professions Database of the Commission. Regulated Professions Database:

http://ec.europa.eu/growth/single-market/services/free-movement-professionals/qualifications-recognition_en

Skills & Competences

Essential Skills and Competences

advise on financial matters analyse insurance needs apply technical communication skills calculate insurance rate compare insurance products create insurance policies handle financial transactions inform on insurance products prospect new customers protect client interests sell insurance

Essential Knowledge

actuarial science claims procedures insurance law insurance market principles of insurance sales promotion techniques types of insurance

Optional Skills and Competences

analyse claim files analyse insurance risk apply statistical analysis techniques build business relationships create cooperation modalities decide on insurance applications deliver visual presentation of data develop investment portfolio file claims with insurance companies identify clients' needs initiate claim file maintain records of financial transactions maintain relationship with customers manage claim files manage claims process manage contract disputes manage contracts monitor legislation developments organise a damage assessment promote financial products provide cost benefit analysis reports use data processing techniques

Optional Knowledge

contract law customer service financial products modern portfolio theory social security law tax legislation

Concept URI

Concept Uri

http://data.europa.eu/esco/occupation/a198de8c-24b1-4002-982f-a57ae6d6c19c

Status

released

Occupations