Insurance Broker ANZSCO 222113: Jobs & Visas

Insurance Broker ANZSCO Code: 222113

The issuance broker is a person who works as an independent agent to sell life, fire, accident, industrial or other forms of insurance for a range of insurance companies. An insurance broker helps clients to find the best insurance provider for them, offering tips and guidance based on their knowledge of the different benefits and policies that different insurance companies offer. They basically act as the middleman for clients and insurers.

An Insurance Broker is an experienced adviser with knowledge of insurance and risk management. Brokers work on behalf of their clients, not for insurance companies, and are generally required to provide professional advice in their clients best interest. They may specialise in one specific type of insurance or industry, or they may deal with many different types. Some Insurance Brokers may be self-employed.

Employment as an Insurance Agent will not be considered as highly relevant, as agents representing a particular company only provide advice on that company’s insurance products. Insurance Brokers operate independently to arrange insurance from a range of companies. An insurance broker finds the right insurance policy for your needs, whether it’s car, home, tenant, business, or life insurance.

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Skill Level:	2
Alternative Title:	General Insurance Broker
Migration Strategy:	CSOL
ANZSCO Code:	222113

Insurance Broker Job Description, Responsibilities, and Education Requirements

Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below.

In Australia:

AQF Associate Degree, Advanced Diploma or Diploma ANZSCO Skill Level 2

In New Zealand:

NZ Register Diploma ANZSCO Skill Level 2

At least three years of relevant experience may substitute for the formal qualifications listed above. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification. Registration or licensing may be required. This includes qualifications assessed at AQF Advanced Diploma, Associate Degree, Bachelor, Master and Doctoral level.

Tasks Include:

Interviewing prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and making recommendations on the amount and type of cover required.
Arranging insurance for clients through banks, lenders, financiers and insurance companies.
Identifying and advising on significant risk changes to clients’ insurance.
Compiling lists of prospective clients from directories and other sources.
Making contact with prospective clients to seek interviews and gauge interest.
Researching and reviewing available insurance products to ensure the most appropriate are offered to clients.
Dealing with clients to facilitate insurance meetings and to grow the existing insurance portfolio.
Achieving budgeted revenue for retention and growth in business.