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What does an insurance broker do?

Updated January 8, 2025
7 min read
What does an insurance broker do

Insurance brokers are responsible for assisting clients to determine their liability risks and in selecting the appropriate policies for their family, home, business, or automobile to ensure their protection. They direct clients in creating a sound decision and supply them with a variety of quotes that best suit their needs. Their duties include demonstrating the benefits, terms, conditions, and suspension for a number of participating insurance policies. Also, they may negotiate lesser rates for their clients and continue in guiding these clients in technical issues like filing a claim or changing their insurance coverage.

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Insurance broker responsibilities

Here are examples of responsibilities from real insurance broker resumes:

  • Used consultative upselling techniques to provide leads
  • Work as an independent financial planner selling life insurance and annuities to individuals and families
  • Facilitate communications between doctors, hospitals, third party insurance companies and patients to obtain and verify patient billing information.
  • Deliver on the GEICO promise to customers by solving problems and giving competent insurance advice in a courteous and proficient manner.

Insurance broker skills and personality traits

We calculated that 11% of Insurance Brokers are proficient in Customer Service, Life Insurance Products, and Lead Generation. They’re also known for soft skills such as Analytical skills, Communication skills, and Initiative.

We break down the percentage of Insurance Brokers that have these skills listed on their resume here:

  • Customer Service, 11%

    Provided exceptional customer service to executive and military clientele while upholding strong working relationships with insurance carriers.

  • Life Insurance Products, 8%

    Managed northeast territory for mortgage protection and personal lines life insurance products.

  • Lead Generation, 8%

    Licensed business owner responsible for lead generation, sales, marketing, and business management.

  • Financial Resources, 8%

    Interviewed prospective clients to obtain data about their financial resources and needs, and to discuss any existing coverage.

  • Annuities, 8%

    Market and present to clients information on Supplemental Life and Health Insurance as well as Prescription Drug plans and fixed annuities.

  • Insurance Carriers, 6%

    Administered in assisting decision-making skills over 10,000+ property and casualty insurance contracts and acquisitions to over 10 different insurance carriers.

"customer service," "life insurance products," and "lead generation" are among the most common skills that insurance brokers use at work. You can find even more insurance broker responsibilities below, including:

Analytical skills. The most essential soft skill for an insurance broker to carry out their responsibilities is analytical skills. This skill is important for the role because "insurance sales agents must evaluate the needs of each client to determine the appropriate insurance policy." Additionally, an insurance broker resume shows how their duties depend on analytical skills: "delivered sales presentations for registered representatives focused on portfolio managers' update, market analysis, marketing strategies and sales ideas. "

Communication skills. Many insurance broker duties rely on communication skills. "insurance sales agents must listen to clients and be able to clearly explain suitable policies.," so an insurance broker will need this skill often in their role. This resume example is just one of many ways insurance broker responsibilities rely on communication skills: "delivered over 30 sales presentations to prospective customers leveraging strong communication and interpersonal skills. "

Initiative. This is an important skill for insurance brokers to perform their duties. For an example of how insurance broker responsibilities depend on this skill, consider that "insurance sales agents need to actively seek out new clients in order to increase business." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of an insurance broker: "lead team meetings and came up with initiatives to improve team customer service scores and to meet and exceed sales quotas. ".

Self-confidence. For certain insurance broker responsibilities to be completed, the job requires competence in "self-confidence." The day-to-day duties of an insurance broker rely on this skill, as "insurance sales agents should be confident when contacting prospective clients." For example, this snippet was taken directly from a resume about how this skill applies to what insurance brokers do: "provided life and auto insurance to customers by contacting perspective clients, interviewing and gathering their confidential information. "

All insurance broker skills

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Compare different insurance brokers

Insurance broker vs. Geek squad agent

A geek squad agent specializes in providing various computer services such as technical and maintenance support. Their responsibilities typically revolve around communicating with clients through calls or correspondence, troubleshooting, and helping them navigate through complex operations. They may also offer products and services, process payments, arrange store appointments, perform regular maintenance checks, and provide cost estimates to clients. Furthermore, as a geek squad agent, it is essential to coordinate with staff and report sales progress or concerns to managers or supervisors.

The annual salary of geek squad agents is $62,082 lower than the average salary of insurance brokers.Even though insurance brokers and geek squad agents are distinct careers, a few of the skills required for both jobs are similar. For example, both careers require customer service, inbound calls, and product knowledge in the day-to-day roles and responsibilities.

There are some key differences in the responsibilities of each position. For example, insurance broker responsibilities require skills like "life insurance products," "lead generation," "financial resources," and "annuities." Meanwhile a typical geek squad agent has skills in areas such as "client devices," "consumer electronics," "phone calls," and "repair computers." This difference in skills reveals the differences in what each career does.

On average, geek squad agents reach similar levels of education than insurance brokers. Geek squad agents are 3.9% less likely to earn a Master's Degree and 1.0% less likely to graduate with a Doctoral Degree.

Insurance broker vs. Field agent

Field agents are the ones who work and do their job not inside the four corners of the office; instead, they do the assigned task outside. They often are expected to have good communication skills so that they can get a response from the most unwilling person in the area. Besides, they must also possess good character traits and professionalism to effectively address higher-up's concerns. As the man on the field, they provide customer support more effectively.

A career as a field agent brings a lower average salary when compared to the average annual salary of an insurance broker. In fact, field agents salary is $56,682 lower than the salary of insurance brokers per year.Only some things about these jobs are the same. Take their skills, for example. Insurance brokers and field agents both require similar skills like "life insurance products," "annuities," and "insurance sales" to carry out their responsibilities.

While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that insurance broker responsibilities requires skills like "customer service," "lead generation," "financial resources," and "insurance carriers." But a field agent might use other skills in their typical duties, such as, "gps," "long-term care," "health insurance," and "subpoenas."

Field agents may earn a lower salary than insurance brokers, but field agents earn the most pay in the finance industry with an average salary of $53,420. On the other hand, insurance brokers receive higher pay in the insurance industry, where they earn an average salary of $72,365.Average education levels between the two professions vary. Field agents tend to reach similar levels of education than insurance brokers. In fact, they're 1.3% less likely to graduate with a Master's Degree and 1.0% less likely to earn a Doctoral Degree.

Insurance broker vs. Lead agent

Lead agents assist with passenger-cargo acceptance and check-in and promote and sell air travel tickets to freight forwarders or the traveling public. Besides promoting safe travel and protecting the firm revenue and property, lead agents also assist distressed traveling customers. Also, lead agents interpret government rules to be observed for travel and cargo shipments. These professionals meet and dispatch aircraft within the required times and use their motor skills to complete related tasks.

On average scale, lead agents bring in lower salaries than insurance brokers. In fact, they earn a $46,662 lower salary per year.Using the responsibilities included on insurance brokers and lead agents resumes, we found that both professions have similar skill requirements, such as "customer service," "annuities," and "outbound calls.rdquo;

There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, an insurance broker is likely to be skilled in "life insurance products," "lead generation," "financial resources," and "insurance carriers," while a typical lead agent is skilled in "team support," "customer care," "computer system," and "vip."

Most lead agents achieve a similar degree level compared to insurance brokers. For example, they're 3.1% less likely to graduate with a Master's Degree, and 0.7% less likely to earn a Doctoral Degree.

Insurance broker vs. Agent

Agents are individuals who are employed by their clients to represent them in various dealings. Agents are usually employed by people in the show business industry, such as actors, writers, or directors. They meet people who are interested in dealing with their clients. They listen to the plans and vision for the project and assess if the project fits their clients' interests or public image. In the case of agents whose clients are actors, they send their clients to auditions upon review of the project details. Agents are also responsible for negotiating terms on behalf of their clients, such as salary, royalties, and set benefits, among others. They also inform the project leaders of their clients' demands on set. Agents are expected to be business-savvy and good negotiators.

Agents typically earn lower pay than insurance brokers. On average, agents earn a $56,142 lower salary per year.While both insurance brokers and agents complete day-to-day tasks using similar skills like customer service, annuities, and administrative tasks, the two careers vary in some skills.While some skills are required in each professionacirc;euro;trade;s responsibilities, there are some differences to note. "life insurance products," "lead generation," "financial resources," and "insurance carriers" are skills that commonly show up on insurance broker resumes. On the other hand, agents use skills like insurance products, life insurance, hr, and financial services on their resumes.agents reach similar levels of education compared to insurance brokers, in general. The difference is that they're 2.3% more likely to earn a Master's Degree, and 0.4% less likely to graduate with a Doctoral Degree.

Types of insurance broker

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

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