Career Definition of an Insurance Broker Assistant
Insurance broker assistants work with insurance sales agents and perform administrative tasks on behalf of clients and the sales agents. It's common for insurance broker assistants to take calls from customers and answer their questions about their insurance coverage or follow their directions to ensure their coverage is renewed. They may also serve as a conduit of information for insurance sales agents and inform them of concerns or issues with a client's policy or changing needs. They may also gather information about new prospective clients to help identify their insurance needs and options.
Their work involves communicating regularly with clients, potential clients and sales agents. When there are claims they may help process those insurance claims and provide information to the relevant parties. They invoice customers for their insurance. They also maintain client files and store documents.
|Educational Requirements||Postsecondary studies|
|Job Skills||Computer skills, organizational skills, customer service skills, communication skills, telephone skills, attention to detail, multitasking skills, office skills|
|Median Salary (2020)*||$44,052 (all broker assistants)|
|Job Outlook (2018-2028)**||2% (all brokerage clerks)|
Sources: *PayScale; **U.S. Bureau of Labor Statistics
Most insurance broker assistants have completed some college-level studies. Although postsecondary studies are not always required, O*NET reports that almost 40% of those employed as brokerage clerks have a bachelor's degree. Those interested in preparing for this career may want to pursue a degree in finance or study business. Developing administrative skills is also important and completing an office assistant certificate may also help prepare individuals to compete for jobs in this field.
Insurance broker assistants need to be capable of multitasking because they may be working on several different client files at the same time. They also need to have excellent telephone skills so that they can effectively communicate with clients over the phone. Organizational skills are important because they need to ensure materials are effectively stored and can be located as needed. They also need computer skills to prepare documents, update records and store information.
Career Outlook and Salary
As of May 2020, PayScale reported that broker assistants earned median salaries of $44,052 per year. The U.S. Bureau of Labor Statistics (BLS) includes occupational data for insurance broker assistants with their listing for brokerage clerks. Over a ten-year period beginning in 2018 the BLS expects brokerage clerks to see a 2% increase in jobs in their field. This is slower than the average rate of job growth expected for all occupations during that same period, which the BLS projects will be 5%.
If a career as an insurance broker assistant sounds appealing then you may be interested in applying the same skills needed in a number of other career fields that involve clerical or financial duties. The articles linked to here provide more information about what bill collectors, administrative assistants, loan clerks and IRS auditors do.