7 Skills You Need to Become an Insurance Broker

Brokering insurance is one of the more important roles in insurance companies. Because of this, anyone thinking of applying for this job should have particular skills and qualities in order to properly fit into the role.

These skills and qualities will help you to effectively and efficiently carry out certain tasks and activities unique to insurance. If you possess these skills, then you should think about applying for a job in insurance.

What is an Insurance Broker?

An insurance broker is a person who sells, solicits or negotiates compensation for insurance. This person plays a key role in insurance companies.


Here are seven of the most sought-after skills for insurance brokers.

1. Problem-Solving

Businessmen shaking hands

In our everyday lives, we all come across problems that require solving. How good are you at finding solutions to these problems?

In insurance, you will be required to find creative solutions to problems every day. You will be required to carefully analyse situations, quickly think about them and, within a short time, come up with fitting solutions. It is your problem-solving ability that will determine how good you become at your job, as well as your level of success amongst other professionals and your peers. When you master this skill, you will become highly sought-after in the insurance industry. A jewel!

As an example, you may be charged with finding insurance cover for a customer with unusual insurance needs or to undertake an insurance core system transformation. Problem-solving comes in handy here. The more problems you solve, the better you become; just like diamonds are formed through heat and a lot of pressure.

2. Customer Service

As an insurance professional, you will be responsible for dealing with people, solving their varied problems, and tailoring solutions to make them happy. This is customer service, and customer satisfaction is central to the success of all insurance companies.

How good are your people skills? Customers must be handled with care. During the negotiation of terms of insurance, for example, you will have to discern exactly what the customer wants and what would be best for the customer. You will have to connect with the customer, make them feel comfortable, and make them feel that they can trust you.

Delivering what you promise plays a key role here. This skill determines how many clients will come to you for assistance. You should demonstrate the ability to go out of your way for your clients, but you also should be able to deliver ‘tough messages’ when the time comes.

3. Numeracy

Numbers! Do you love them? Are you comfortable with them?

As an insurance broker, you will work with numbers all the time. You should be mathematically oriented, especially in business insurance. This job requires the ability to quickly and correctly deal work with mathematical calculations. Errors should be avoided since your mathematical skills will be relied upon in order to calculate sufficient insurance cover. When errors are made you should be able to run through volumes and volumes of numbers to point them out and correct them. Clients may require their insurance to be revised. Be sure to bring this skill along, using it in the shortest time possible. The additional ability to look at numbers from different varied perspectives will come in handy.



4. Organization

Numbers and calculations will require neat organization skills. Keep your work organized to avoid mistakes that may prove disastrous. Organization will also save you precious time which is of the essence in this line of work.

Insurance brokers deal with large numbers of clients, which involves keeping volumes of records. Keeping your work and workspace organized will help you to keep detailed records that will improve the efficiency and speed of work. Organization will also reduce stress, helping you to work comfortably with ease. It also keeps the clients coming back, believe me. With technology, this skill can be greatly enhanced through the use of apps and software. Be familiar with these because they are life savers!

5. Detail-Oriented

An insurance broker should be able to pay attention to the finer details as this will enable you to pick up in the smallest error in calculations.

When called upon to run through an insurance policy, your ability to understand the details will be your best friend. Dealing with volumes of data in the form of numbers can prove difficult sometimes and errors will be made, but this skills compliments your problem-solving skills allowing you to identify and correct these errors. The ability to pick up on small errors made will save you from disasters caused by a missing decimal point.

6. Communication

Just how good are your communication skills?

Someone is said to have strong communication skills when they can speak clearly and confidently, as well as use non-verbal cues like eye contact and body language to good effect.

All insurance roles require strong communication skills. Get your points across clearly since you are the expert, especially when dealing with clients or internal and external stakeholders. Your negotiation skills will depend heavily on your communication ability. Clear communication will save you time and whoever you are handling must be able to understand what you are saying. Good communication skills will also boost client confidence. Insurance companies are always on the look-out for good communicators.

7. Negotiation

Negotiation, your ability to reach a middle ground, and the pillar of all agreements in insurance.

You may find yourself in situations when you do not agree with your client, but you have to be able to talk your way through these situations citing pieces of evidence or reasons when required. Strong communication skills will come in handy explaining clearly what you would like from the clients or the parties involved. Be sure to handle any parties involved carefully and respectfully so that all parties are satisfied.



The Skills You Need Guide to Getting a Job

Further Reading from Skills You Need


The Skills You Need Guide to Getting a Job

Develop the skills you need to get that job.

This eBook is essential reading for potential job-seekers. Not only does it cover identifying your skills but also the mechanics of applying for a job, writing a CV or resume and attending interviews.


To become a successful insurance broker, these skills are paramount. However, these will not guarantee you automatic success. Hard work, some patience and passion are also necessary. If you want to know how to be a successful insurance broker, first ensure that you have all these qualities. If you do, then you are definitely on the right track.


About the Author


Riya is an inspired writer. She has both a bachelor’s and master’s degree in business, and majored in organization management and marketing. She is now delighted to work with many aspiring small business owners.

This article comes courtesy of Citycover, a leading Australian Insurance Broker and Financial Services provider.

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