Careers rarely develop the way we plan them. Our career path often takes many twists and turns, with particular events, choices and people influencing our direction.

We asked Donal Og Cusack from Sustainable Energy Authority to give some advice for people considering this job:

 

Donal Og Cusack

Automation/Energy Engineer

Sustainable Energy Authority

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  Donal Og Cusack
Some of the best people I know still aren’t sure what they want to do, my advice would be to give it a go. If you don’t like it you can always try something else. Whatever is in your heart follow it, don’t be something just because someone in your family is. Whether you’re looking to be a leader, a designer or come up with new ideas and a better way of doing things, make sure it’s something that fills you with passion.
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Realists like to find practical solutions to problems using tools, technology and skilled work. Realists usually prefer to be active in their work environment, often do most of their work alone, and enjoy taking decisive action with a minimum amount of discussion and paperwork.
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Occupation Details

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Insurance Broker

Job Zone

Education
Most occupations in this zone require job specific training (vocational training) related to the occupation (NFQ Levels 5 and 6 or higher), related on-the-job experience, or a relevant professional award.

Related Experience
Previous work-related skill, knowledge, or experience is required for these occupations. For example, electricians typically complete four years of training in order to perform the job.

Job Training
Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. A recognised apprenticeship program may be associated with these occupations.

Job Zone Examples
These occupations usually involve using communication and organisational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include restaurant managers, electricians, agricultural technicians, legal secretaries, hairdressers, and web developers.

€19k > 40 
Account Executive
Salary Range
(thousands per year)*
€35 - 60 
Related Information:
Data Source(s):
Brightwater / Sigmar

Last Updated: July, 2015

Insurance Broker
Salary Range
(thousands per year)*
€19 - 40 
Related Information:
Data Source(s):
SOLAS

Last Updated: March, 2013

* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.
-4%
Occupational Category

Brokers & Insurance Underwriters

Also included in this category:

Stockbrokers; foreign exchange dealers; insurance brokers; underwriters; insurance inspectors; mortgage underwriters

Number Employed:

4,300

Part time workers: 15%
Aged over 55: 20%
Male / Female: 60 / 40%
Non-Nationals: 11%
With Third Level: 84%
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At a Glance... header image

Independent insurance professionals who act as a link between insurance companies and their customers.


Videos & Interviews header image

1Total Records: 1

Karl Curran
Associate Director  

Karl Curran is an Assosiate Director at Aon Insurance. He completed a two year diploma in Business Studies at DIT after which he was offered a position within Aon. His is currently undertaking a degree in International Finance & Banking with the Institute of Bankers and has begun working towards obtaining the FCII.

Go to Interview  
 

The Work header image

Insurance brokers are independent insurance professionals who act as a link between insurance companies and their customers, the insurance buyer.

Brokers use their vast experience to assess their client’s risk profile. Equipped with the customer’s insurance requirements, the broker then finds the best insurance company products to fit their customer’s needs and budget.

 


Tasks & Activitiesheader image

The following is a list of the most commonly reported tasks and activities for this occupation

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Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance or specialized policies such as marine, farm/crop, and medical malpractice.

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Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.

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Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.

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Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.

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Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.

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Customize insurance programs to suit individual customers, often covering a variety of risks.

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Explain features, advantages and disadvantages of various policies to promote sale of insurance plans.

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Calculate premiums and establish payment method.

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Inspect property, examining its general condition, type of construction, age, and other characteristics, to decide if it is a good insurance risk.

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Perform administrative tasks, such as maintaining records and handling policy renewals.

Work Activities header image

The following is a list of the most commonly reported work activities in this occupation.

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Establishing and Maintaining Interpersonal Relationships:  Developing constructive and cooperative working relationships with others, and maintaining them over time.

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Communicating with Persons Outside Organization:  Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

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Selling or Influencing Others:  Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

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Performing for or Working Directly with the Public:  Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.

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Making Decisions and Solving Problems:  Analyzing information and evaluating results to choose the best solution and solve problems.

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Updating and Using Relevant Knowledge:  Keeping up-to-date technically and applying new knowledge to your job.

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Resolving Conflicts and Negotiating with Others:  Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

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Processing Information:  Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

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Organizing, Planning, and Prioritizing Work:  Developing specific goals and plans to prioritize, organize, and accomplish your work.

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Getting Information:  Observing, receiving, and otherwise obtaining information from all relevant sources.


Knowledge header image

The following is a list of the five most commonly reported knowledge areas for this occupation.

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Customer and Personal Service:  Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

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Sales and Marketing:  Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

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English Language:  Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

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Economics and Accounting:  Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

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Clerical:  Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.


Skillsheader image

The following is a list of the most commonly reported skills used in this occupation.

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Active Listening:   Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

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Speaking:   Talking to others to convey information effectively.

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Reading Comprehension:   Understanding written sentences and paragraphs in work related documents.

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Service Orientation:   Actively looking for ways to help people.

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Persuasion:   Persuading others to change their minds or behavior.

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Active Learning:   Understanding the implications of new information for both current and future problem-solving and decision-making.

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Critical Thinking:   Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

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Negotiation:   Bringing others together and trying to reconcile differences.

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Writing:   Communicating effectively in writing as appropriate for the needs of the audience.

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Social Perceptiveness:   Being aware of others' reactions and understanding why they react as they do.

Personal Qualitiesheader image

As an insurance broker you'll need strong analytical ability, integrity and a keen interest in business.

You must have good interpersonal and communication skills so that you can negotiate and communicate effectively with clients and potential clients.

You must be able to cope with the responsibility that may be placed on you early on in your career.  
 
An ability to express an attention to detail, a quick understanding of facts and numeric competence are desirable in this profession.


Entry Routesheader image

Job roles in this career area include:

Large Broker (Account Executive, Account Manager, Account Director, Head of Broker)

Small Broker (Customer Service, Director)

Insurance brokers may study for the professional examinations of the Chartered Insurance Institute or the Chartered Institute of Loss Adjusters.

Employers also recruit graduates from a wide range of academic subjects. A degree many disciplines is acceptable though risk management, insurance or subjects with insurance or financial options are preferred. Business Studies Administration, Economics, Statistics, Computing and law can provide useful background knowledge.  
 
There are degree courses in insurance studies available and some business studies degree courses offer options in insurance. Some institutions also offer degree courses in financial or insurance services.  
 
Numerous introductory and foundation courses on insurance and the financial services are run at Colleges of Further Education throughout the country. These are accredited by QQI at Level 5. Check colleges in your area for more details.

New Apprenticeship Route to Insurance 2016

The Insurance Institute, in collaboration with Zurich Insurance and a steering group of cross-industry representatives have developed the BA (Hons) in Insurance Practice – a Level 8 ‘earn and learn’ aprenticeship style Insurance Practitioner degree programme. [More]
 
If you want to progress into management it is usually necessary to pass the Associateship examination of the Chartered Insurance Institute (CII). The CII also offers training leading to an Insurance Foundation Certificate a Diploma of Insurance Practice and an Advanced Diploma in Insurance. The representative body for the CII in Ireland is The Insurance Institute of Ireland which also offers additional Irish law and practice focussed programs alongside the Associateship.

Last Updated: January, 2015


Further Informationheader image

A detailed description of this occupation can be found on a number of online databases. Follow the link(s) below to access this information:

Note: you will be leaving the CareersPortal Site

Go..Insurance Broker - from:  N.C.S. [UK]
Go..Insurance Broker - from:  iCould [UK] Video
Go..Insurance broker, sales - from:  GradIreland

Related Occupationsheader image

Contactsheader image

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Organisation: Insurance Institute of Ireland
  Address: Insurance House, 39 Molesworth Street, Dublin 2
  Tel: (01) 677 2582
  Email: Click here
  Url Click here

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Organisation: Insurance Ireland
  Address: Insurance House, 39 Molesworth Street, Dublin 2
  Tel: (01) 676 1820
  Email: Click here
  Url Click here

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Organisation: LIA
  Address: LIA House, 183 Kimmage Road West, Dublin 12
  Tel: 01 - 709 9850
  Email: Click here
  Url Click here

 

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Industry Expert


Apprenticeship Information

Insurance Practitioner

Career Guidance

This occupation is popular with people who have the following Career Interests...


...and for people who like working in the following Career Sectors:

Banking, Insurance & Financial Services

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