general insurance with adjuster
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Insurance agents and brokers sell life, automobile, property, health and other types of insurance to individuals, businesses and public institutions. Insurance brokers purchase insurance from a variety of companies on behalf of clients. Insurance agents are employed by individual insurance companies or are independent representatives of specific insurance companies. Insurance brokers are employed by brokerage firms, or may work in partnerships or hold sole proprietorship.
Employment Potential (Labour Market Information)
Good
Employment Trends
The occupation is termed "significant" due to the relatively high concentration of people working in this occupation within this geographic area.
Total job openings (new jobs and jobs due to retirement and death) in relation to the large size of the occupational group and compared with other occupations are below average.
Opportunities should be best for ambitious people who enjoy sales work and who develop expertise in a wide range of insurance and financial services.
Many factors, including sales volume of insurance and other financial products, will affect the demand for agents and brokers. The growing number of working women should increase insurance sales. Rising incomes as well as a concern for financial security should stimulate sales of mutual funds, variable annuities, and other financial products and services. Demand for long-term health care and pension benefits among BC's increasing proportion of retirees should also spur insurance sales.
Sales of property and casualty insurance should rise as more people seek coverage for their homes, cars, and valuables. Sales of commercial insurance should increase as new businesses emerge and existing firms expand coverage.
The increasing use of technology has not only enabled agents and brokers to access an abundance of information on potential clients, but may allow clients to make policy purchases on-line without a visit from an agent. With the use of computers, agents and brokers can more efficiently tailor plans to the needs of individual clients. Consequently, fewer but more highly skilled agents and brokers are needed to handle a greater volume of sales.
Although most individuals and businesses consider insurance a necessity, regardless of economic conditions, employment of agents and brokers will not keep pace with the rising level of insurance sales. Customer service representatives are increasingly assuming some sales functions, such as handling clients who are expanding their accounts. Trends toward technology use, multi-line agents, self-insurance, and group policies will result in employment rising more slowly than the volume of insurance sales.
Most (93.3%) of these workers in BC are employed in the finance and insurance industry.
Women account for 58% of all insurance agents and brokers in the province. Visible minorities make up 20.4% while Aboriginal people represent 1.6% of all workers in this occupational group.
These positions are generally recruited in the Lower Mainland by word of mouth and free online job boards such as at http://www.ibabc.org (Insurance Brokers Association of BC).
- Program Outline
- College Comparison
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PROGRAM BENEFITS
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GENERAL REQUIREMENTS
- Good interpersonal skills
- Good communication skills, both written and oral
- Good math skills
- Good computer skills
- Good command of English
- Second language is an asset
- Good personal grooming
- Independence
- Good business judgment
- Genuine interest in helping people achieve their financial goals
- Ability to persuade
- Willingness to keep up to date with new information pertaining to insurance
- Attention to detail
- Ability to work in a competitive environment
- Valid BC's driver's licence
- Bondable
- Criminal record check
- Good entrepreneurial skills
- Good intercultural skills
- Teamwork ability
- Customer service experience
- Sales experience is an asset
Wage Range from Highest to Lowest:
$36.13/$18.41/$11.28 |
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