Insurance Brokers operate as independent agents to sell life, fire, accident, industrial or other forms of insurance for a range of insurance companies.
Interviews prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and to make recommendations on the amount and type of cover.
Arranges insurance, home loan mortgages and other types of finance for clients through banks, lenders, financiers and insurance companies.
Identifies and advising on significant risk changes to clients' insurance.
Vocational Education and Training (VET)
Informal or on-the-job
JSA produces employment projections to show where likely future job opportunities may be. Employment projections data are only produced for occupations at the broad four digit Australian and New Zealand Standard Classification of Occupations (ANZSCO) level. While data are not available for this occupation, projections data are available for the parent occupation, Financial Brokers, under the outlook section.
Earnings and hours
Around 85% of people employed as Insurance Brokers work full-time hours, in all their jobs combined. This is 19 percentage points above the all jobs average (66%).
Full-time workers work an average of 44 hours per week in their main job. This is the same as the all jobs average.
Sources:Full-time share and full-time hours: ABS, 2016 Census, customised report. Compared to the all jobs average.
Most Insurance Brokers work in the Financial and insurance services industry.
Source: Based on ABS Census 2016, Customised Report.
Employment across Australia
Employment by State and Territory (% Share)
|State||Insurance Brokers||All Jobs Average|
Around 71% of Insurance Brokers live in capital cities, compared with the all jobs average of 62%.
The regions with the largest share of workers are:
- Sydney - North Sydney and Hornsby
- Melbourne - Inner
- Perth - North West
- Melbourne - Inner South
- Melbourne - Outer East.
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.
Age and gender
The median age of Insurance Brokers is 42 years. This is similar to the all jobs average of 40 years.
A large share of workers are aged 35 to 44 years.
Females make up 43% of the workforce. This is 5 percentage points below 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)
|Age Bracket||Insurance Brokers||All Jobs Average|
|65 and Over||5.8||4.2|
Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
Education, training and experience
A formal qualification in insurance broking is usually needed to work as an Insurance Broker. Vocational Education and Training (VET) and university are both common study pathways.
Registration or licencing may be required.
- 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)
|Type of Qualification||Insurance Brokers||All Jobs Average|
|Post Graduate/Graduate Diploma or Graduate Certificate||7.4||10.1|
|Year 10 and below||3.7||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 Financial Brokers who provide good customer service and who have strong interpersonal skills.
Skills can be improved through training or experience.
Listening to others, not interrupting, and asking good questions.
Talking to others.
Reading work related information.
Talking people into changing their minds or their behaviour.
Looking for ways to help people.
Writing things for co-workers or customers.
Being able to use what you have learnt to solve problems now and again in the future.
Thinking about the pros and cons of different ways to solve a problem.
Bringing people together and trying to sort out their differences.
Understanding why people react the way they do.
Keeping track of how well work is progressing so you can make changes or improvements.
46%Judgment and decision making
Figuring out the pros and cons of different options and choosing the best one.
Managing your own and other peoples' time to get work done.
Teaching people how to do something.
43%Complex problem solving
Noticing a problem and figuring out the best way to solve it.
43%Coordination with others
Being adaptable and coordinating work with other people.
Figuring out how a system should work and how changes in conditions, operations, and the environment will affect it.
Measuring how well a system is working and how to improve it.
Using maths to solve problems.
Figuring out the best way to teach or learn something new.
These are important topics, subjects or knowledge areas.
82%Customer and personal service
Understanding customer needs, providing good quality service, and measuring customer satisfaction.
72%Sales and marketing
Showing, promoting, and selling including marketing strategy, product demonstration, sales techniques, and sales control systems.
Word processing, managing files and records, stenography and transcription, designing forms, and other office work.
English language including the meaning and spelling of words, rules of composition, and grammar.
53%Economics and accounting
Economics and accounting, the financial markets, banking and checking and reporting of financial data.
53%Computers and electronics
Circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Arithmetic, algebra, geometry, calculus, or statistics.
50%Administration and management
Business principles involved in strategic planning, leadership, and coordinating people and resources.
41%Law and government
How our laws and courts work. Government rules and regulations, and the political system.
37%Education and training
Curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
36%Personnel and human resources
Recruiting and training people, managing pay and other entitlements (like sick leave), and negotiating pay and conditions.
32%Communications and media
Media production, communication, and dissemination. Includes written, spoken, and visual media.
Human behaviour; differences in ability, personality, and interests; learning and motivation; research methods; assessing and treating disorders.
26%Public safety and security
Use of equipment, rules and ideas to protect people, data, property, and institutions.
21%Production and processing
Raw materials, production processes, quality control, costs, and ways of making and distributing goods.
Describing land, sea, and air, including their physical characteristics, locations, how they work together, and the location of plant, animal, and human life.
17%Sociology and anthropology
Group behaviour and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins.
Transmission, broadcasting, switching, control, and operation of telecommunications systems.
Foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.
11%Building and construction
Materials, and methods used to construct or repair houses, buildings, or other structures like highways and roads.
Workers use these physical and mental abilities..
Listen to and understand what people say.
Communicate by speaking.
Read and understand written information.
Write in a way that people can understand.
Speak clearly so others can understand you.
Identify and understand the speech of another person.
Notice when something is wrong or is likely to go wrong, even if you can't solve the problem.
Use general rules to find answers or solve problems logically.
See details that are up-close (within a few feet).
Come up with different ways of grouping things.
Use lots of detailed information to come up with answers or make general rules.
45%Sorting or ordering
Order or arrange things in a pattern or sequence (e.g., numbers, letters, words, pictures, mathematical operations).
Come up with a number of ideas about a topic, even if the ideas aren't very good.
39%Flexibility of closure
See a pattern (a figure, object, word, or sound) hidden in other distracting material.
Choose the right maths method or formula to solve a problem.
Come up with unusual or clever ideas, or creative ways to solve a problem.
Pay attention to something without being distracted.
Do two or more things at the same time.
37%Working with numbers
Add, subtract, multiply, or divide.
Use your eyes to quickly compare groups of letters, numbers, pictures, or other things.
These are kinds of activities workers regularly do in this job.
79%Building good relationships
Building good working relationships and keeping them over time.
76%Communicating with the public
Giving information to the public, business or government by telephone, in writing, or in person.
Convincing people to buy something or to change their minds or actions.
73%Working with the public
Greeting or serving customers, clients or guests, and public speaking or performing.
67%Making decisions and solving problems
Using information to work out the best solution and solve problems.
67%Keeping your knowledge up-to-date
Keeping up-to-date with technology and new ideas.
66%Negotiating and resolving conflicts
Handling complaints and disagreements, and negotiating with people.
65%Collecting and organising information
Compiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.
64%Planning and prioritising work
Deciding on goals and putting together a detailed plan to get the work done.
63%Researching and investigating
Looking for, getting and understanding different kinds of information.
62%Looking for changes over time
Comparing objects, actions, or events. Looking for differences between them or changes over time.
54%Checking compliance with standards
Deciding whether events or processes comply with laws, regulations, or standards.
53%Making sense of information and ideas
Looking at, working with, and understanding data or information.
53%Coming up with systems and processes
Deciding on goals and figuring out what you need to do to achieve them.
52%Scheduling work and activities
Working out the timing of events, programs, and activities, as well as the work of others.
52%Communicating within a team
Giving information to co-workers by telephone, in writing, or in person.
51%Monitoring people, processes and things
Checking objects, actions, or events, and keeping an eye out for problems.
38%Documenting or recording information
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
36%Explaining things to people
Helping people to understand and use information.
35%Working with computers
Using computers to program, write software, set up functions, enter data, or process information.
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 are the style or type of work we prefer to do. All interest areas are shown below.
Starting up and carrying out projects. Leading people and making many decisions. Sometimes require risk taking and often deal with business.
Following set procedures and routines. Working with numbers and details more than with ideas, usually following rules.
Working with people. Helping or providing service to others.
Practical, hands-on work. Often with plants and animals, or materials like wood, tools, and machinery.
Ideas and thinking. Searching for facts and figuring out problems in your head.
Working with forms, designs and patterns. Often need self-expression and can be done without following rules.
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.
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.
Results oriented. Workers are able to use their strongest abilities, giving them a feeling of accomplishment.
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.
Job security and good working conditions. There is usually a steady flow of interesting work, and the pay and conditions are generally good.
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.
Talk on the telephone.
Use electronic mail.
96%Contact with people
Have contact with people by telephone, face-to-face, or any other way.
94%Being exact or accurate
Be very exact or highly accurate.
94%Letters and memos
Write letters and memos.
93%Freedom to make decisions
Have freedom to make decision on your own.
Talk with people face-to-face.
Have freedom to decide on tasks, priorities, and goals.
86%Contact with the public
Work with customers or the public.
86%Frequent decision making
Frequently make decisions that impact other people.
86%Impact of decisions
Make decisions that have a large impact on other people.
85%Spend time sitting
Spend time sitting at work.
82%Indoors, heat controlled
Work indoors with access to heating or cooling.
Work with people in a group or team.
Work to strict deadlines.
Compete with others, or be aware of competitive pressures.
67%In an enclosed vehicle or equipment
Work in a closed vehicle (e.g., car).
62%Automation of tasks
Do tasks that are mostly automated.
62%Lead or coordinate a team
Lead others to do work activities.
61%Angry or unpleasant people
Deal with unpleasant, angry, or rude people.
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, 41-3021.00 - Insurance Sales Agents.