Insurance Brokers operate as independent agents to sell life, fire, accident, industrial or other forms of insurance for a range of insurance companies.

    You usually need a formal qualification in insurance broking to work as an Insurance Broker. VET (Vocational Education and Training) and university are both common study pathways for Insurance Brokers.

    Tasks

    • Interviews prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and to make recommendations on the amount and type of cover.
    • Arranges insurance, home loan mortgages and other types of finance for clients through banks, lenders, financiers and insurance companies.
    • Identifies and advising on significant risk changes to clients' insurance.

    All Financial Brokers

    • $2,231 Weekly Pay
    • Very strong Future Growth
    • Lower unemployment Unemployment

    Insurance Brokers

    • 9,200 workers Employment Size
    • High skill Skill level rating
    • 85% Full-Time Full-Time Share
    • 44 hours Average full-time
    • 42 years Average age
    • 43% female Gender Share

    The number of people working as Insurance Brokers (in their main job) grew moderately over 5 years:
    from 8,800 in 2011 to 9,200 in 2016.

    • Size: This is a small occupation.
    • Location: Insurance Brokers work in many regions of Australia.
    • Industries: Most work in the Financial and Insurance Services industry.
    • Full-time: Most work full-time (85%, much higher than the average of 66%).
    • Hours: Full-time workers spend around 44 hours per week at work (compared to the average of 44 hours).
    • Age: The average age is 42 years (compared to the average of 40 years).
    • Gender: 43% of workers are female (compared to the average of 48%).

    Employment Outlook

    Number of Workers

    No data is available for the selected graph for this Occupation.

    Weekly Earnings

    Weekly Earnings (Before Tax)

    No data is available for the selected graph for this Occupation.

    Main Industries

    Main Employing Industries (% Share)

    Source: Based on ABS Census 2016, Customised Report. Industries are based on the Australian and New Zealand Standard Industrial Classification (ANZSIC 06).
    Main Employing IndustriesIndustry (% share)
    Financial and Insurance Services93.0
    Construction3.7
    Public Administration and Safety0.4
    Professional, Scientific and Technical Services0.4
    Other Industries2.5

    States and Territories

    • NSW

    • VIC

    • QLD

    • SA

    • TAS

    • NT

    • ACT

    Employment by State and Territory (% Share)

    Source: Based on Based on ABS Census 2016, Customised Report. Share of workers across Australian States and Territories, in this job compared to the all jobs average.
    StateInsurance BrokersAll Jobs Average
    NSW33.831.6
    VIC26.525.6
    QLD18.920.0
    SA6.47.0
    WA10.910.8
    TAS1.82.0
    NT0.71.0
    ACT0.91.9

    Age Profile

    Age Profile (% Share)

    Source: Based on Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
    Age BracketInsurance BrokersAll Jobs AverageAll Jobs Average
    15-190.4-5.05.0
    20-243.5-9.39.3
    25-3424.8-22.922.9
    35-4426.9-22.022.0
    45-5422.8-21.621.6
    55-599.1-9.09.0
    60-646.7-6.06.0
    65 and Over5.8-4.24.2

    Education Level

    Highest Level of Education (% Share)

    Source: ABS, ABS Census 2016, Customised Report. Highest qualification completed by workers in this job (in any field of study). Qualifications needed by new workers might be different from the qualifications of workers already in the job.
    Type of QualificationInsurance BrokersAll Jobs AverageAll Jobs Average
    Post Graduate/Graduate Diploma or Graduate Certificate7.4-10.110.1
    Bachelor degree19.6-21.821.8
    Advanced Diploma/Diploma42.0-11.611.6
    Certificate III/IV8.1-21.121.1
    Year 1216.5-18.118.1
    Year 112.8-4.84.8
    Year 10 and below3.7-12.512.5

    You usually need a formal qualification in insurance broking to work as an Insurance Broker. VET (Vocational Education and Training) and university are both common study pathways for Insurance Brokers.

    You must also be registered with the Australian Securities and Investments Commission.

    Checks, licences and tickets

    You may need:

    • Australian Financial Services licence

    Thinking about study or training?

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

    • Search and compare thousands of higher education courses, and their entry requirements from different institutions across Australia at Course Seeker website.
    • 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.

    Or check out related courses on Job Outlook.

    Useful links and resources


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

    Employers look for Financial Brokers who provide good customer service and who have strong interpersonal skills.

    Filter Skills & Knowledge

    Knowledge

    These are important topics, subjects or knowledge areas.

    1. Customer and Personal Service

      82% Skill level

      Understanding customer needs, providing good quality service, and measuring customer satisfaction.

    2. Sales and Marketing

      72% Skill level

      Showing, promoting, and selling including marketing strategy, product demonstration, sales techniques, and sales control systems.

    3. Clerical

      65% Skill level

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

    4. English Language

      56% Skill level

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

    5. Economics and Accounting

      53% Skill level

      Economics and accounting, the financial markets, banking and checking and reporting of financial data.

    Occupational Information Network
    O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
    The skills and importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 41-3021.00 - Insurance Sales Agents.

    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.

    Filter Work Environment

    Demands

    The physical and social demands workers face most often are shown below.

    1. Telephone

      100% Important

      How often do you talk on the telephone?

    2. Electronic Mail

      98% Important

      How often do you use electronic mail?

    3. Contact With Others

      96% Important

      How much do you have contact with people (face-to-face, by telephone, or any other way)?

    4. Being Exact or Accurate

      94% Important

      How important is being very exact or highly accurate?

    5. Letters and Memos

      94% Important

      How often do you write letters and memos?

    Occupational Information Network
    O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
    The skills and importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 41-3021.00 - Insurance Sales Agents.

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