Insurance Broker
$9K-$144K
/ year
6-9 years experience
$9K-$144K
/ year
6-9 years experience
Insurance brokers often work as agents of large insurance companies or independently; in either case, they work directly with clients and must have necessary licenses in their states of employment.
Insurance brokers provide insurance quotes via phone, online, or in-person. They must assess consumers’ individual needs prior to providing quotes and may need to conduct valuations of properties or businesses to be insured. They may also take photographs, obtain inspection reports, and compare coverage plans of different insurers. They must always try to secure the best rates without sacrificing quality (above-average ratings by third-party institutions) for their clients and must always be fair, ethical and unbiased in their work.
Some insurance brokers may also need to pass series 6 and 7 exams administered by the Financial Industry Regulatory Authority (FINRA), a government agency. Excellent customer service and interpersonal skills are important in this position; on behalf of their clients, they must research ways to reduce premiums by combining different types of insurance, such as home and auto insurance, for substantial discounts. They must also explain any small print that clients should know, such as terms and conditions, and send them certificates of insurance when necessary. Insurance brokers are encouraged to read professional journals relevant to their industry to stay up-to-date in their careers.
With 6-9 years of experience, an Insurance Broker in Singapore is responsible for:
For an Insurance Broker job role, the following qualifications are required:
1
Managing Accounts
2
Insurance Management
Different skills can affect your salary. Below are the most popular skills and their effect on salary.
Managing Accounts
1%
Insurance Management
1%
For an Insurance Broker with 6-9 years of experience in Singapore, there are several alternative roles to consider. Here are following options to explore:
The job role of an insurance broker in Singapore is projected to experience significant growth in the market. Over the last 10 years, there has been a steady rise in the demand for insurance products, leading to the expansion of this profession. With the increasing complexity of insurance policies and the need for expert advice, insurance brokers are expected to play a crucial role in analyzing and recommending suitable coverage options. This trend is likely to continue in the future, creating abundant employment opportunities for insurance brokers in Singapore. The projected growth of this position reflects the evolving insurance landscape and the importance of personalized insurance solutions.