An insurance consultant specializes in helping businesses and individuals assess their insurance needs and make necessary plans. They help a business develop its insurance plans for employees and assess the types of corporate insurance coverage needed.
They also help an individual identify plans that will cover health and life insurance and aid in evaluating and securing other insurance needs. The consultant also ensures that clients receive the best insurance coverage for the most beneficial premium outlay.
The Insurance Consultant is employable in almost any insurance field, from health to auto, life, and property. To become an insurance consultant, you must be trained in the required field and obtain a valid license to broker different insurance policies. Commission or fee-based remuneration are the ways an insurance consultant is compensated. Insurance consultants earn a median wage of about $50,600. Essential skills to possess are customer service, communication, problem-solving, and interpersonal skills.
There is more than meets the eye when it comes to being an insurance consultant. For example, did you know that they make an average of $21.9 an hour? That's $45,559 a year!
Between 2018 and 2028, the career is expected to grow 10% and produce 48,300 job opportunities across the U.S.
There are certain skills that many insurance consultants have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and initiative.
When it comes to the most important skills required to be an insurance consultant, we found that a lot of resumes listed 14.6% of insurance consultants included insurance companies, while 13.2% of resumes included life insurance, and 12.2% of resumes included health care. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the insurance consultant job title. But what industry to start with? Most insurance consultants actually find jobs in the insurance and technology industries.
If you're interested in becoming an insurance consultant, one of the first things to consider is how much education you need. We've determined that 60.7% of insurance consultants have a bachelor's degree. In terms of higher education levels, we found that 9.7% of insurance consultants have master's degrees. Even though most insurance consultants have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become an insurance consultant. When we researched the most common majors for an insurance consultant, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on insurance consultant resumes include master's degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become an insurance consultant. In fact, many insurance consultant jobs require experience in a role such as customer service representative. Meanwhile, many insurance consultants also have previous career experience in roles such as sales representative or consultant.