Insurance broker apprenticeships - where to start
You can get into this job through
a university course
an apprenticeshipworking towards the rolea graduate training scheme
University
You could take a degree before applying for a place on an insurance company's training scheme. Relevant degrees include business studies, finance, surveying or engineering. It'll help to get some relevant work experience whilst you're studying, for example, through an internship.
You'll usually need 2 to 3 A-Levels, or the equivalent.
Apprenticeship
You could get into this this job through an insurance professional higher apprenticeship.
This typically takes about 24 months to complete with a mix of workplace learning and study.
You'll usually need 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A-Levels, or the equivalent, for a higher or degree apprenticeship
Work
Employers often prefer to take on trainees with a minimum of GCSEs at grades 9 to 4 (A* to C), including English and maths, and A-Levels. IT skills are also important.
You would usually start as an insurance technician, junior account handler or trainee broker. You could work your way up to broker as you get experience and insurance industry qualifications, for example, through the Chartered Insurance Institute (CII).
The CII qualifications offer study units relevant to the insurance areas you specialise in, for example marine, commercial or general insurance. Examples of qualifications include:
CII Level 3 Certificate in Insurance - for trainee brokers the CII Diploma in Insurance or the CII Advanced Diploma in Insurance may be useful.
Other Routes
If you have a degree, you could join a large insurance broking firm's graduate training scheme.
Most degree subjects are accepted, but a business or maths degree may give you an advantage, as there is often a lot of competition for places. You'll find it useful to have experience in office work, sales or financial customer service.
Professional and industry bodies
You could join the Chartered Insurance Institute for professional development and training opportunities.
Insurance broker apprenticeships - what it takes
Skills and knowledge
You'll need:
- customer service skills
- the ability to sell products and services
- to be thorough and pay attention to detail
- the ability to use your initiative
- persistence and determination
- patience and the ability to remain calm in stressful situations
- excellent verbal communication skills
- maths knowledge
- to be able to use a computer and the main software packages confidently
Insurance broker apprenticeships - what you'll do
Day-to-day tasks
In your day-to-day duties you could:
- gather information from clients to assess their insurance needs and risk
- research insurance policies
- arrange insurance cover for clients
- negotiate the best policy terms with insurers
- renew or change existing policies
- make sure all business and paperwork meets legal requirements
- advise customers who are making a claim
- use IT systems to keep records and prepare documents
- prepare case reports for insurance underwriters and surveyors
Working environment
You could work in an office.
Career path and progression - Insurance broker apprenticeships
With experience, you could move into account handling, claims broking or a business development role.
You could specialise in an area of insurance, progress into management, or move into other types of insurance work, like loss adjusting, underwriting or compliance.