Insurance broker | Average UK Salary & Outlook

Insurance brokers use their knowledge of the insurance market to help find the right cover, at the best price, for their customers.

Typical task
Working hours
Attractive values

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

Customize insurance programs to suit individual customers, often covering a variety of risks.
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.
Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
Perform administrative tasks, such as maintaining records and handling policy renewals.
Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.
Confer with clients to obtain and provide information when claims are made on a policy.
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.
Contact underwriter and submit forms to obtain binder coverage.
Select company that offers type of coverage requested by client to underwrite policy.
Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
Develop marketing strategies to compete with other individuals or companies who sell insurance.
Calculate premiums and establish payment method.
Attend meetings, seminars, and programs to learn about new products and services, learn new skills, and receive technical assistance in developing new accounts.
Monitor insurance claims to ensure they are settled equitably for both the client and the insurer.
Plan and oversee incorporation of insurance program into bookkeeping system of company.
Inspect property, examining its general condition, type of construction, age, and other characteristics, to decide if it is a good insurance risk.
Install bookkeeping systems and resolve system problems.
Explain necessary bookkeeping requirements for customer to implement and provide group insurance program.

Average salary
42,248 GBP *
per year

Average salary for Insurance broker

Big gender gap

46,957 GBP
36,830 GBP

Average salary for part-time Insurance broker

Average salary for full-time Insurance broker

Showing:

19,743 GBP
19,486 GBP

42,248 GBP
36,830 GBP
46,957 GBP

Salary over time for Insurance broker

Salary for this role has increased over time

46,342 GBP
43,195 GBP
41,467 GBP
42,504 GBP
45,411 GBP
43,581 GBP
42,248 GBP
45,179 GBP
51,220 GBP

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See all 55 relevant courses

Future outlook for Insurance brokers

Poor outlook

581 000+ jobs available

Balanced outlook

1% yearly wage growth (on average)

Which qualifications do I need?

Find out what you need to know in order to become a Insurance broker and the highest average level of education for people in this role.

In terms of people already doing this job:

% of people in this role have a Bachelor's degree
% of people in this role have a Diploma of Higher Education or equivalent
% of people in this role have GCSEs or equivalent

You'll need:

the ability to use your initiative
to be thorough and pay attention to detail
patience and the ability to remain calm in stressful situations
sensitivity and understanding
the ability to accept criticism and work well under pressure
ambition and a desire to succeed
excellent verbal communication skills
customer service skills
to be able to carry out basic tasks on a computer or hand-held device

Get the right qualification to begin your journey to becoming a Insurance broker

Insurance

What soft skills do I need?

Rise above the competition by brushing up on the 5 most important soft skills you need to become a Insurance broker.

Reading Comprehension Understanding written sentences and paragraphs in work related documents

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

Speaking Talking to others to convey information effectively

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

Persuasion Persuading others to change their minds or behavior

What technical skills do I need?

Technical skills are programmes, softwares and things you need to know in order to be a successful Insurance broker. Check that you know:

Customer relationship management CRM software Allied Financial Software Act4Advisors; Applied Systems Vision; Insurance Technologies ForeSight Enterprise; Tangle S Creations Your Insurance Office

Enterprise resource planning ERP software

Financial analysis software Cygnus Software IncomeMax; Insurance analysis software; Insurance rating software; Underwriting software

Medical software Healthcare common procedure coding system HCPCS

Video creation and editing software Adobe Systems Adobe AfterEffects

Improve your skills today

Insurance

Integrity Job requires being honest and ethical. Independence Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done. Attention to Detail Job requires being careful about detail and thorough in completing work tasks. Achievement/Effort Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks. Dependability Job requires being reliable, responsible, and dependable, and fulfilling obligations.

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Insurance broker | Average UK Salary & Outlook

Salary statistics

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Future outlook for Insurance brokers

Insurance broker - Your future job?

Which qualifications do I need?

What soft skills do I need?

What technical skills do I need?

Things to highlight for your Insurance broker interview

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