Insurance, Money Market and Statistical Clerks

ANZSCO ID 5523

Overview

Snapshot

Employed
32,800
Future Growth
4.6%
Weekly Earnings
$1,332
Full-Time Share
78%
Female Share
70%
Average age
37

Summary

Insurance, Money Market and Statistical Clerks prepare and check documentation associated with insurance, maintain records of securities transactions and registrations, offer odds and accept bets, and compile data and undertake statistical and actuarial computations.

Tasks

  • obtaining information on the form of competitors by research, attending racing trials and liaising with contacts

  • offering and varying odds on competitors after considering the type of event, handicaps, weather conditions and odds offered by other Bookmakers

  • processing insurance applications, adjustments to insurance cover, standard endorsements and insurance claims

  • monitoring balances of accounts and summarising reinsurance to determine outstanding risk

  • surveying potential risk exposure

  • despatching notices of premiums due and forms concerning conservation and transfer of insurance

  • reviewing, checking, verifying and issuing transaction documentation for securities

  • claiming accruing dividends and processing dividend payments

  • compiling statistics from financial records, survey returns and other data sources, and verifying the authenticity of the material

  • operating computers to input, manipulate and output information

  • compiling results of calculations into tables, graphs and charts to be used in analysis

  • may work in a call centre

Characteristics

Job Type
Clerical And Administrative Workers
Skill Level
Lower skill
ANZSCO Occupation group
Unemployment Rate
Below average
Industries
Pathway(s)
  • University
  • Vocational Education and Training (VET)
  • Informal or on-the-job
Interests
  • Administrative
  • Enterprising
Physical Demand
  • Sedentary

Outlook

Employment Outlook

JSA produces employment projections to show where likely future job opportunities may be. The latest data are for the five years from November 2021 to November 2026. Over this period, the number of workers:

  • is expected to grow moderately
  • is likely to reach 53,000 by 2026.
  • Source: Jobs and Skills Australia Employment Projections to 2026.

    Notes: The number employed includes people who work in this occupation as their main job. People who work in more than one job are counted against the occupation they work the most hours in.

    Employment projections figures are rounded to the nearest 100. Calculations based on these rounded figures may result in differences to the numbers that are displayed on this page. Employment projections data (including occupations) can be downloaded from the Employment Projections page.

Projected Change
4.6%
(or 2,300 jobs)
From
50,600
in 2021
To
53,000
in 2026

Number of Workers

Source: ABS Labour Force Survey, ABS seasonally adjusted data to November 2021 and Jobs and Skills Australia Employment Projections to 2026.
Year Employment
2011 35,500
2012 33,600
2013 29,400
2014 27,500
2015 29,800
2016 32,300
2017 27,300
2018 25,300
2019 35,700
2020 31,300
2021 50,600
2026 53,000

Source: ABS Labour Force Survey, ABS seasonally adjusted data to November 2021 and Jobs and Skills Australia Employment Projections to 2026.


Earnings and hours

Working arrangements

  • Around 77% of people employed as Insurance, Money Market and Statistical Clerks work full-time hours, in all their jobs combined. This is 11 percentage points above the all jobs average (66%).

    Full-time workers work an average of 40 hours per week in their main job. This is 4 hours less than the all jobs average (44 hours per week).

    Median full-time earnings are $1,332 per week, this is much lower than the all jobs median ($1,593):

    • 3 in 4 workers earn more than $1,115
    • 1 in 4 earn more than $1,588

    Median hourly earnings are $35, this is lower than the all jobs median ($41 per hour).

    Sources: Full-time share and full-time hours: ABS, 2016 Census, customised report. Compared to the all jobs average. Full-time median earnings and median hourly earnings: ABS, Survey of Employee Earnings and Hours, May 2021. Compared to all jobs median.

Weekly Earnings (Before Tax)

Source: Based on ABS Survey of Employee Earnings and Hours, May 2021, 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.
Earnings Insurance, Money Market and Statistical Clerks All Jobs Average
Full-Time Earnings 1,332 1,593
Total Earnings 0 0

Source: Based on ABS Survey of Employee Earnings and Hours, May 2021, 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.


Industries

Main industries

1
Financial and Insurance Services
87.0%
2
Public Administration and Safety
7.1%
3
Professional, Scientific and Technical Services
1.9%
4
Other Services
1.1%
5
Other industries
2.9%

Regions

Employment across Australia

NSW

37.8% All occupations: 31.6%

VIC

26.8% All occupations: 25.6%

QLD

16.5% All occupations: 20.0%

SA

7.3% All occupations: 7.0%

WA

8.1% All occupations: 10.8%

TAS

1.7% All occupations: 2.0%

NT

0.5% All occupations: 1.0%

ACT

1.2% All occupations: 1.9%

Employment by State and Territory (% Share)

State Insurance, Money Market and Statistical Clerks All Jobs Average
NSW 37.8 31.6
VIC 26.8 25.6
QLD 16.5 20.0
SA 7.3 7.0
WA 8.1 10.8
TAS 1.7 2.0
NT 0.5 1.0
ACT 1.2 1.9


  • Around 76% of Insurance, Money Market and Statistical Clerks live in capital cities, compared with the all jobs average of 62%.

    New South Wales has a large share of employment relative to its population size.

    Source: Based on ABS Census 2016, Customised Report. Share of workers across Australian states, territories and regions, in this job compared to the all jobs average.


Worker profile

Age and gender

Age In Years
37
All Jobs Average is 40
Female Share
70%
All Jobs Average is 48%
  • The median age of Insurance, Money Market and Statistical Clerks is 37 years. This is similar to the all jobs average of 40 years.

    A large share of workers are aged 25 to 34 years.

    Females make up 70% of the workforce. This is 22 percentage points above the all jobs average of 48%.

    Source: Based on ABS Census 2016, Customised Report. Age profile and gender share compared to the all jobs average.

Age Profile (% Share)

Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
Age Bracket Insurance, Money Market and Statistical Clerks All Jobs Average
15-19 0.9 5.0
20-24 8.0 9.3
25-34 33.5 22.9
35-44 25.6 22.0
45-54 18.9 21.6
55-59 6.8 9.0
60-64 4.1 6.0
65 and Over 2.2 4.2
Median Age 37 40

Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.


Employment Pathways

Education, training and experience

Formal qualifications are not essential to work as an Insurance, Money Market or Statistical Clerk. Although some workers have a Vocational Education and Training (VET) qualification or university degree in business and management, insurance and actuarial studies, banking and finance or accounting.

Visit

  • Course Seeker to search and compare higher education courses.
  • ComparED to compare undergraduate and postgraduate student experiences and outcomes.
  • My Skills to compare Vocational Education and Training (VET) courses, providers and student outcomes.
  • AAPathways website to explore Financial Services VET training pathways.

Highest Level of Education (% Share)

Source: 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 Qualification Insurance, Money Market and Statistical Clerks All Jobs Average
Post Graduate/Graduate Diploma or Graduate Certificate 7.0 10.1
Bachelor degree 23.0 21.8
Advanced Diploma/Diploma 15.6 11.6
Certificate III/IV 14.9 21.1
Year 12 27.2 18.1
Year 11 4.7 4.8
Year 10 and below 7.6 12.5

Source: 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.


Skills and Knowledge

Employers look for Insurance, Money Market and Statistical Clerks who have a high attention to detail, provide good customer service and are reliable.

Skills

Skills can be improved through training or experience.

  • 55%

    Active listening

    Listening to others, not interrupting, and asking good questions.

  • 50%

    Reading comprehension

    Reading work related information.

  • 50%

    Speaking

    Talking to others.

  • 50%

    Critical thinking

    Thinking about the pros and cons of different ways to solve a problem.

  • 46%

    Judgment and decision making

    Figuring out the pros and cons of different options and choosing the best one.

  • 45%

    Serving others

    Looking for ways to help people.

  • 43%

    Mathematics

    Using maths to solve problems.

  • 43%

    Writing

    Writing things for co-workers or customers.

  • 41%

    Active learning

    Being able to use what you have learnt to solve problems now and again in the future.

  • 39%

    Complex problem solving

    Noticing a problem and figuring out the best way to solve it.

  • 39%

    Coordination with others

    Being adaptable and coordinating work with other people.

  • 39%

    Monitoring

    Keeping track of how well work is progressing so you can make changes or improvements.

  • 37%

    Time management

    Managing your own and other peoples' time to get work done.

  • 36%

    Social perceptiveness

    Understanding why people react the way they do.

  • 34%

    Persuasion

    Talking people into changing their minds or their behaviour.

  • 32%

    Negotiation

    Bringing people together and trying to sort out their differences.

  • 30%

    Management of financial resources

    Figuring out how money is needed to do something, and keeping track of the money that's being spent.

  • 30%

    Systems analysis

    Figuring out how a system should work and how changes in conditions, operations, and the environment will affect it.

  • 29%

    Management of personnel resources

    Motivating, developing, and directing people as they work, and choosing the best people for the job.

  • 27%

    Instructing

    Teaching people how to do something.


Knowledge

These are important topics, subjects or knowledge areas.

  • 79%

    Clerical

    Word processing, managing files and records, stenography and transcription, designing forms, and other office work.

  • 78%

    Customer and personal service

    Understanding customer needs, providing good quality service, and measuring customer satisfaction.

  • 62%

    English language

    English language including the meaning and spelling of words, rules of composition, and grammar.

  • 61%

    Computers and electronics

    Circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

  • 55%

    Administration and management

    Business principles involved in strategic planning, leadership, and coordinating people and resources.

  • 54%

    Sales and marketing

    Showing, promoting, and selling including marketing strategy, product demonstration, sales techniques, and sales control systems.

  • 47%

    Mathematics

    Arithmetic, algebra, geometry, calculus, or statistics.

  • 46%

    Education and training

    Curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

  • 46%

    Communications and media

    Media production, communication, and dissemination. Includes written, spoken, and visual media.

  • 31%

    Economics and accounting

    Economics and accounting, the financial markets, banking and checking and reporting of financial data.

  • 30%

    Telecommunications

    Transmission, broadcasting, switching, control, and operation of telecommunications systems.

  • 27%

    Law and government

    How our laws and courts work. Government rules and regulations, and the political system.

  • 26%

    Psychology

    Human behaviour; differences in ability, personality, and interests; learning and motivation; research methods; assessing and treating disorders.

  • 23%

    Production and processing

    Raw materials, production processes, quality control, costs, and ways of making and distributing goods.

  • 18%

    Personnel and human resources

    Recruiting and training people, managing pay and other entitlements (like sick leave), and negotiating pay and conditions.

  • 16%

    Public safety and security

    Use of equipment, rules and ideas to protect people, data, property, and institutions.

  • 13%

    Geography

    Describing land, sea, and air, including their physical characteristics, locations, how they work together, and the location of plant, animal, and human life.

  • 13%

    Transportation

    Moving people or goods by air, rail, sea, or road.

  • 13%

    Sociology and anthropology

    Group behaviour and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins.

  • 10%

    Philosophy and theology

    Philosophical systems and religions, including their basic principles, values, ethics, ways of thinking, customs, practices, and impact on society.


Abilities

Workers use these physical and mental abilities..

  • 59%

    Near vision

    See details that are up-close (within a few feet).

  • 57%

    Oral comprehension

    Listen to and understand what people say.

  • 55%

    Oral expression

    Communicate by speaking.

  • 54%

    Written comprehension

    Read and understand written information.

  • 52%

    Speech recognition

    Identify and understand the speech of another person.

  • 48%

    Working with numbers

    Add, subtract, multiply, or divide.

  • 48%

    Written expression

    Write in a way that people can understand.

  • 46%

    Speech clarity

    Speak clearly so others can understand you.

  • 45%

    Deductive reasoning

    Use general rules to find answers or solve problems logically.

  • 43%

    Categorising

    Come up with different ways of grouping things.

  • 43%

    Mathematics

    Choose the right maths method or formula to solve a problem.

  • 41%

    Inductive reasoning

    Use lots of detailed information to come up with answers or make general rules.

  • 41%

    Problem spotting

    Notice when something is wrong or is likely to go wrong, even if you can't solve the problem.

  • 41%

    Sorting or ordering

    Order or arrange things in a pattern or sequence (e.g., numbers, letters, words, pictures, mathematical operations).

  • 39%

    Perceptual speed

    Use your eyes to quickly compare groups of letters, numbers, pictures, or other things.

  • 36%

    Selective attention

    Pay attention to something without being distracted.

  • 36%

    Brainstorming

    Come up with a number of ideas about a topic, even if the ideas aren't very good.

  • 36%

    Flexibility of closure

    See a pattern (a figure, object, word, or sound) hidden in other distracting material.

  • 34%

    Far vision

    See details that are far away.

  • 32%

    Finger dexterity

    Put together small parts with your fingers.


Activities

These are kinds of activities workers regularly do in this job.

  • 67%

    Planning and prioritising work

    Deciding on goals and putting together a detailed plan to get the work done.

  • 65%

    Communicating with the public

    Giving information to the public, business or government by telephone, in writing, or in person.

  • 62%

    Keeping your knowledge up-to-date

    Keeping up-to-date with technology and new ideas.

  • 61%

    Building good relationships

    Building good working relationships and keeping them over time.

  • 60%

    Researching and investigating

    Looking for, getting and understanding different kinds of information.

  • 59%

    Communicating within a team

    Giving information to co-workers by telephone, in writing, or in person.

  • 57%

    Collecting and organising information

    Compiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.

  • 55%

    Negotiating and resolving conflicts

    Handling complaints and disagreements, and negotiating with people.

  • 53%

    Looking for changes over time

    Comparing objects, actions, or events. Looking for differences between them or changes over time.

  • 53%

    Monitoring people, processes and things

    Checking objects, actions, or events, and keeping an eye out for problems.

  • 50%

    Checking compliance with standards

    Deciding whether events or processes comply with laws, regulations, or standards.

  • 50%

    Making decisions and solving problems

    Using information to work out the best solution and solve problems.

  • 50%

    Documenting or recording information

    Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

  • 48%

    Influencing people

    Convincing people to buy something or to change their minds or actions.

  • 47%

    Making sense of information and ideas

    Looking at, working with, and understanding data or information.

  • 47%

    Working with the public

    Greeting or serving customers, clients or guests, and public speaking or performing.

  • 46%

    Explaining things to people

    Helping people to understand and use information.

  • 46%

    Working with computers

    Using computers to program, write software, set up functions, enter data, or process information.

  • 44%

    Managing payments and orders

    Monitoring and controlling resources and the spending of money.

  • 42%

    Providing office support

    Doing day-to-day office work such as filing and processing paperwork.


Interests and demands

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.

Interests

Interests are the style or type of work we prefer to do. All interest areas are shown below.

  • 100%

    Administrative

    Following set procedures and routines. Working with numbers and details more than with ideas, usually following rules.

  • 62%

    Enterprising

    Starting up and carrying out projects. Leading people and making many decisions. Sometimes require risk taking and often deal with business.

  • 33%

    Helping

    Working with people. Helping or providing service to others.

  • 24%

    Analytical

    Ideas and thinking. Searching for facts and figuring out problems in your head.

  • 14%

    Creative

    Working with forms, designs and patterns. Often need self-expression and can be done without following rules.

  • 14%

    Practical

    Practical, hands-on work. Often with plants and animals, or materials like wood, tools, and machinery.


Values

Work values are important to a person’s feeling of satisfaction. All six values are shown below.
  • 71%

    Support

    Supportive management that stands behind employees. Workers are treated fairly by their company, they are supported by management, and have supervisors who train them well.

  • 62%

    Relationships

    Serve and work with others. Workers usually get along well with each other, do things to help other people, and are rarely pressured to do things that go against their sense of right and wrong.

  • 52%

    Independence

    Work alone and make decisions. Workers are able to try out their own ideas, make decisions on their own, and work with little or no supervision.

  • 43%

    Achievement

    Results oriented. Workers are able to use their strongest abilities, giving them a feeling of accomplishment.

  • 40%

    Working conditions

    Job security and good working conditions. There is usually a steady flow of interesting work, and the pay and conditions are generally good.

  • 33%

    Recognition

    Advancement and the potential to lead. Workers are recognised for the work that they do, they may give directions and instructions to others, and they are looked up to in their company and their community.


Demands

The physical and social demands that workers face most often are shown below:
  • 100%

    Indoors, heat controlled

    Work indoors with access to heating or cooling.

  • 98%

    Spend time sitting

    Spend time sitting at work.

  • 97%

    Contact with people

    Have contact with people by telephone, face-to-face, or any other way.

  • 97%

    Electronic mail

    Use electronic mail.

  • 97%

    Telephone

    Talk on the telephone.

  • 92%

    Letters and memos

    Write letters and memos.

  • 92%

    Unstructured work

    Have freedom to decide on tasks, priorities, and goals.

  • 92%

    Teamwork

    Work with people in a group or team.

  • 86%

    Contact with the public

    Work with customers or the public.

  • 83%

    Being exact or accurate

    Be very exact or highly accurate.

  • 81%

    Repeating same tasks

    Repeat the same tasks or activities (e.g., key entry) over and over, without stopping.

  • 80%

    Face-to-face discussions

    Talk with people face-to-face.

  • 79%

    Freedom to make decisions

    Have freedom to make decision on your own.

  • 78%

    Time pressure

    Work to strict deadlines.

  • 76%

    Frequent decision making

    Frequently make decisions that impact other people.

  • 76%

    Making repetitive motions

    Spend time making repetitive motions.

  • 74%

    Impact of decisions

    Make decisions that have a large impact on other people.

  • 68%

    Lead or coordinate a team

    Lead others to do work activities.

  • 66%

    Angry or unpleasant people

    Deal with unpleasant, angry, or rude people.

  • 61%

    Automation of tasks

    Do tasks that are mostly automated.

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, 43-9041.02 - Insurance Policy Processing Clerks.


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