Insurance, Money Market and Statistical Clerks prepare and check documentation associated with insurance, maintain records of securities transactions and registrations, offer odds and accept bets, and compile data and undertake statistical and actuarial computations.

A Certificate II or III, or at least 1 year of relevant experience, is usually needed to work in this job. Around one in four workers have a university degree. Even with a qualification, sometimes experience or on-the-job training is necessary. Registration or licensing may be required.

Tasks

  • obtaining information on the form of competitors by research, attending racing trials and liaising with contacts
  • offering and varying odds on competitors after considering the type of event, handicaps, weather conditions and odds offered by other Bookmakers
  • processing insurance applications, adjustments to insurance cover, standard endorsements and insurance claims
  • monitoring balances of accounts and summarising reinsurance to determine outstanding risk
  • surveying potential risk exposure
  • despatching notices of premiums due and forms concerning conservation and transfer of insurance
  • reviewing, checking, verifying and issuing transaction documentation for securities
  • claiming accruing dividends and processing dividend payments
  • compiling statistics from financial records, survey returns and other data sources, and verifying the authenticity of the material
  • operating computers to input, manipulate and output information
  • compiling results of calculations into tables, graphs and charts to be used in analysis
  • may work in a call centre

Job Titles

  • Bookmaker
  • Insurance Consultant
  • Money Market Clerk
  • Statistical Clerk
  • Bookmaker

    Determines risk, offers odds and accepts bets on the outcome of racing and other events. Registration or licensing is required.

  • Insurance Consultant (also called Insurance Clerk)

    Prepares and checks documentation associated with insurance. May work in a call centre.

    Specialisations: Health Insurance Assessor, Superannuation Clerk

  • Money Market Clerk (also called Scrip Clerk (Stockbroking), or Securities Clerk)

    Processes documentation and maintains records of securities transactions and registrations.

  • Statistical Clerk

    Compiles data and undertakes statistical and actuarial computations.

    Specialisations: Actuarial Clerk

Fast Facts

  • $958 Weekly Pay
  • 25,600 workers Employment Size
  • Decline Future Growth
  • Lower skill Skill level rating
  • Average unemployment Unemployment
  • 82.3% Full-Time Full-Time Share
  • 34.3 hours Average full-time
  • 37.5 years Average age
  • 67.8% female Gender Share

The number of Insurance, Money Market and Statistical Clerks fell over the past 5 years and is expected to fall over the next 5 years:
from 25,600 in 2018 to 23,600 by 2023.
Job openings can come from new jobs being created, but most come from turnover (workers leaving).
There are likely to be around 10,000 job openings over 5 years (that's about 2,000 a year).

  • Size: This is a large occupation.
  • Unemployment: Unemployment was average in 2017.
  • Location: Insurance, Money Market and Statistical Clerks work in most regions of Australia.
  • Industries: Most work in Financial and Insurance Services; Public Administration and Safety; and Health Care and Social Assistance.
  • Earnings: Full-time workers earn around $958 per week (below the all jobs average of $1,230). Earnings tend to be lower when starting out and higher as experience grows.
  • Full-time: Most work full-time (82.3%, much higher than the all jobs average of 68.4%).
  • Hours: Full-time workers spend around 34.3 hours per week at work (compared to the all jobs average of 40.0 hours).
  • Age: The average age is 38 years (compared to the all jobs average of 40 years).
  • Gender: 67.8% of workers are female (compared to the all jobs average of 46.7%).

Employment Outlook

Number of Workers

Source: ABS Labour Force Survey, Department of Jobs and Small Business trend data to May 2018 and Department of Jobs and Small Business projections to 2023.
YearNumber of Workers
200825800
200929900
201024400
201130700
201232500
201331500
201429700
201528400
201630900
201732200
201825600
202323600

Weekly Earnings

Weekly Earnings (Before Tax)

Source: Based on ABS Characteristics of Employment survey, August 2015, Cat. No. 6333.0, Customised Report. Median earnings are before tax and do not include superannuation. Earnings can vary greatly depending on the skills and experience of the worker and the demands of the role. These figures should be used as a guide only, not to determine a wage rate.
EarningsInsurance, Money Market and Statistical ClerksAll Jobs Average
Full-Time Earnings9581230

Main Industries

Main Employing Industries (% Share)

Source: Based on ABS Labour Force Survey, annual average 2017, Cat. No. 6291.0.55.003: Customised Report. Industries are based on the Australian and New Zealand Standard Industrial Classification (ANZSIC 06).
Main Employing IndustriesIndustry (% share)
Financial and Insurance Services79.6
Public Administration and Safety8.3
Health Care and Social Assistance2.0
Arts and Recreation Services2.0
Other Industries8.1

States and Territories

  • NSW

  • VIC

  • QLD

  • SA

  • TAS

  • NT

  • ACT

Employment by State and Territory (% Share)

Source: Based on ABS Labour Force Survey, annual average 2017, Cat. No. 6291.0.55.003: Customised Report. Share of workers across Australian States and Territories, in this job compared to the all jobs average.
StateInsurance, Money Market and Statistical ClerksAll Jobs Average
NSW41.031.6
VIC27.826.2
QLD14.619.7
SA5.86.7
WA6.110.8
TAS2.42.0
NT0.51.1
ACT1.81.8

Age Profile

Age Profile (% Share)

Source: Based on ABS Labour Force Survey, annual average 2017, Cat. No. 6291.0.55.003: Customised Report. Age profile of workers in this job compared to the all jobs average.
Age BracketInsurance, Money Market and Statistical ClerksAll Jobs AverageAll Jobs Average
15-191.9-5.25.2
20-248.8-9.99.9
25-3433.3-23.623.6
35-4422.8-21.721.7
45-5422.4-20.820.8
55-595.9-8.88.8
60-643.8-6.06.0
65 and Over1.0-4.04.0

Education Level

Highest Level of Education (% Share)

Source: ABS, Education and Work (2016). Findings based on use of ABS TableBuilder data. Highest qualification completed by workers in this job (in any field of study). Skill level requirements can change over time, the qualifications needed by new workers might be different from the qualifications of workers already in the job.
Type of QualificationInsurance, Money Market and Statistical ClerksAll Jobs AverageAll Jobs Average
Post Graduate/Graduate Diploma or Graduate Certificate18.3-8.68.6
Bachelor degree25.2-17.917.9
Advanced Diploma/Diploma12.6-10.110.1
Certificate III/IV10.8-18.918.9
Year 1215-18.718.7
Years 11 & 1014.1-17.717.7
Below Year 103.9-8.18.1

A Certificate II or III, or at least 1 year of relevant experience, is usually needed to work in this job.
Around one in four workers have a university degree. Even with a qualification, sometimes experience or on-the-job training is necessary. Registration or licensing may be required.

Before starting a course, check it will provide you with the skills and qualifications you need.

  • Compare undergraduate and postgraduate student experiences and outcomes on the QILT website.
  • Compare Vocational Education and Training (VET) courses, providers and student outcomes on the My Skills website.
  • You might be interested in Financial Services VET training pathways on the AAPathways website.

The course listings on this page are provided by Good Education Group.

Employers look for Insurance, Money Market and Statistical Clerks who have a high attention to detail, provide good customer service and are reliable.

Knowledge

These are important topics, subjects or knowledge areas.

  1. Customer and Personal Service

    94% Important

    Customer and personal services. This includes understanding customer needs, providing good quality service, and measuring customer satisfaction.

  2. English Language

    87% Important

    English language including the meaning and spelling of words, rules of composition, and grammar.

  3. Clerical

    81% Important

    Word processing, managing files and records, stenography and transcription, designing forms, and other office work.

  4. Administration and Management

    76% Important

    Planning and coordination of people and resources.

  5. Computers and Electronics

    73% Important

    Circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Occupational Information Network
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 43-9041.02 - Insurance Policy Processing Clerks.

Learn about the daily activities, and physical and social demands faced by workers. Explore the values and work styles that workers rate as most important.

Activities

These are kinds of activities workers regularly do in this job.

  1. Interacting With Computers

    91% Important

    Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

  2. Getting Information

    88% Important

    Looking for, getting and understanding different kinds of information.

  3. Communicating with Persons Outside Organization

    85% Important

    Communicating with customers, the public, government, and others in person, in writing, or by telephone or e-mail.

  4. Processing Information

    84% Important

    Compiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.

  5. Building Good Relationships

    82% Important

    Building and keeping constructive and cooperative working relationships with others.

Occupational Information Network
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 43-9041.02 - Insurance Policy Processing Clerks.

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