Insurance Agents represent insurance companies in selling insurance to clients.

Specialisations: Insurance Underwriter, Life Assurance Representative.

You can work as an Insurance Agent without formal qualifications, however, they may be useful. VET (Vocational Education and Training) and university are both common study pathways for Insurance Agents.

Tasks

  • interviewing clients to identify their insurance needs
  • explaining to clients details of insurance and conditions, risk coverage, premiums and benefits
  • assisting clients to determine the type and level of coverage required
  • calculating premiums and establishing method of payment
  • reviewing clients' circumstances to ensure that the level and coverage of insurance is still appropriate
  • settling and monitoring insurance claims to ensure that both client and insurer are satisfied with the outcome
  • recording information about clients and their policies
  • identifying and drawing up lists of potential clients from a variety of sources and contacting them to arrange interviews
  • keeping up-to-date with changes in the insurance industry and informing clients of new developments

All Insurance Agents

  • $1,768 Weekly Pay
  • Stable Future Growth
  • Average unemployment Unemployment
  • 16,400 workers Employment Size
  • Medium skill Skill level rating
  • 81% Full-Time Full-Time Share
  • 41 hours Average full-time
  • 37 years Average age
  • 53% female Gender Share

The number of people working as Insurance Agents (in their main job) grew very strongly over the past 5 years and is expected to stay about the same over the next 5 years:
from 16,400 in 2018 to 16,700 by 2023.
Job openings can come from new jobs being created, but most come from turnover (workers leaving).
There are likely to be around 14,000 job openings over 5 years (that's about 2,800 a year).

  • Size: This is a medium sized occupation.
  • Unemployment: Unemployment was average in 2018.
  • Location: Insurance Agents work in many regions of Australia.
  • Industries: Most work in the Financial and Insurance Services industry.
  • Earnings: Full-time workers on an adult wage earn around $1,768 per week (very high compared to the average of $1,460). Earnings tend to be lower when starting out and higher as experience grows.
  • Full-time: Most work full-time (81%, much higher than the average of 66%).
  • Hours: Full-time workers spend around 41 hours per week at work (compared to the average of 44 hours).
  • Age: The average age is 37 years (compared to the average of 40 years).
  • Gender: 53% of workers are female (compared to the average of 48%).

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
200810800
20099200
201011100
201111900
201210900
201313500
201413900
201513200
20168600
20179400
201816400
202316700

Weekly Earnings

Weekly Earnings (Before Tax)

Source: Based on ABS Survey of Employee Earnings and Hours (cat. no. 6306.0), May 2018, Customised Report. Median weekly total cash earnings for full-time non-managerial employees paid at the adult rate. Earnings are before tax and include amounts salary sacrificed. 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 AgentsAll Jobs Average
Full-Time Earnings17681460

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 Services94.3
Other Services1.4
Retail Trade0.7
Professional, Scientific and Technical Services0.6
Other Industries3.0

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 AgentsAll Jobs Average
NSW34.431.6
VIC27.525.6
QLD21.220.0
SA6.17.0
WA9.010.8
TAS1.02.0
NT0.51.0
ACT0.41.9

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 AgentsAll Jobs AverageAll Jobs Average
15-190.5-5.05.0
20-248.2-9.39.3
25-3433.4-22.922.9
35-4426.8-22.022.0
45-5418.2-21.621.6
55-596.3-9.09.0
60-643.9-6.06.0
65 and Over2.7-4.24.2

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 AgentsAll Jobs AverageAll Jobs Average
Post Graduate/Graduate Diploma or Graduate Certificate6.7-10.110.1
Bachelor degree21.8-21.821.8
Advanced Diploma/Diploma21.8-11.611.6
Certificate III/IV13.9-21.121.1
Year 1225.3-18.118.1
Year 114.0-4.84.8
Year 10 and below6.4-12.512.5

You can work as an Insurance Agent without formal qualifications, however, they may be useful. VET (Vocational Education and Training) and university are both common study pathways for Insurance Agents.

Checks, licences and tickets

You may need:

  • insurance agent 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 Retail 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 Insurance Agents who are well presented, can communicate with a diverse range of people and provide good customer service.

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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