Job Description

Short Description:

A Broker acts as an intermediary between clients and insurance companies, helping clients find the best insurance policies to meet their needs. They assess client requirements, provide expert advice, and negotiate policy terms to secure the most favorable coverage options. By maintaining strong relationships with multiple insurance providers, a Broker ensures clients receive competitive rates and comprehensive protection. This role requires excellent communication, negotiation skills, and a deep understanding of various insurance products.

Duties / Responsibilities:

• Sell various 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.
• Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and discuss any existing coverage.
• Call on policyholders to deliver and explain policy, analyze the insurance program, suggest additions or changes, or change beneficiaries.
• Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
• Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
• Customize insurance programs to suit individual customers, often covering a variety of risks.
• Explain the features, advantages, and disadvantages of various policies to promote the sale of insurance plans.
• Calculate premiums and establish payment method.
• Inspect property, and examine general conditions, type of construction, age, and other characteristics, to decide if it is a reasonable insurance risk.
• Perform administrative tasks, such as maintaining records and handling policy renewals.

Skills / Requirements / Qualifications

• Active Listening: Giving full attention to what other people are saying, taking time to understand the points made, asking questions as appropriate, and not interrupting at inappropriate times.
• Reading Comprehension: Understanding written sentences and paragraphs in work-related documents.
• Speaking: Talking to others to convey information effectively.
• Writing: Communicating effectively in writing as appropriate for the audience's needs.
• Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
• Service Orientation: Actively looking for ways to help people.
• Time Management: Managing one's own time and the time of others.
• Judgment and Decision Making: Considering the costs and benefits of potential actions to choose the most appropriate one.
• Negotiation: Bringing others together and trying to reconcile differences.