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What does an Insurance Broker do?

Photo of Brenna Goyette
Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 4 min read

An insurance broker is a professional who helps people find the best insurance coverage for their needs. They work with a variety of insurance companies and can help their clients get the most affordable rates.

Insurance Broker job duties include:

  • Research and compare insurance plans from multiple carriers to find the best coverage and rates for clients
  • Advise clients on the type and amount of insurance coverage they need to minimize risk and protect their assets
  • Develop customized insurance programs for businesses to ensure their employees are properly covered
  • Work with underwriters to get the best possible rates for clients
  • Negotiate with insurance carriers on behalf of clients to get the most favorable terms
  • Keep abreast of changes in the insurance industry to ensure that clients are getting the most up-to-date coverage
  • Handle claims and policy changes for clients
  • Educate clients on their rights and responsibilities under their policies
  • Maintain accurate records of all client interactions and transactions

Insurance Broker Job Requirements

An insurance broker is a professional who helps people and businesses find the insurance coverage they need at the best possible price. Insurance brokers are usually independent contractors who work with multiple insurance companies and can offer their clients a wider range of choices than they would if they were working with just one company. To become an insurance broker, you will need at least a high school diploma, although many brokers have a college degree. You will also need to complete a training program and pass an exam to earn your license. Some states also require you to complete continuing education courses on an ongoing basis to keep your license active.

Insurance Broker Skills

  • Analytical skills
  • Profit and loss analysis
  • Financial analysis
  • Finance
  • Real estate
  • Business administration
  • Marketing
  • Risk management
  • Financial modeling
  • Business strategy
  • Business development
  • Investment banking

Related: Top Insurance Broker Skills: Definition and Examples

How to become an Insurance Broker

An insurance broker is a professional who helps people and businesses find the insurance coverage they need at the best possible price. Insurance brokers work with a variety of insurance companies and can help you find the right policy for your needs.

If you’re interested in becoming an insurance broker, there are a few things you need to do. First, you need to get a license from your state’s insurance department. To get a license, you’ll need to pass an exam that tests your knowledge of the insurance industry and state laws.

Once you have your license, you can start working with clients. When you meet with a client, you’ll learn about their insurance needs and then shop around for the best policy for them. You’ll need to keep up with changes in the insurance industry so that you can offer your clients the most up-to-date coverage options.

Becoming an insurance broker is a great way to help people protect what’s important to them. If you’re detail-oriented and enjoy working with people, this could be the perfect career for you!

Related: Insurance Broker Resume Example

Related: Insurance Broker Interview Questions (With Example Answers)

Editorial staff

Photo of Brenna Goyette, Editor

Editor

Brenna Goyette

Expert Verified

Brenna is a certified professional resume writer, career expert, and the content manager of the ResumeCat team. She has a background in corporate recruiting and human resources and has been writing resumes for over 10 years. Brenna has experience in recruiting for tech, finance, and marketing roles and has a passion for helping people find their dream jobs. She creates expert resources to help job seekers write the best resumes and cover letters, land the job, and succeed in the workplace.

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