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Insurance broker Average UK Salary & Prospects

Insurance brokers use their knowledge of the insurance market to help find the right cover, at the best price, for their customers.

  • Customize insurance programs to suit individual customers, often covering a variety of risks.  
  • Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policies, such as marine, farm/crop, and medical malpractice.  
  • Explain
Read more about Insurance broker

Insurance brokers typically work around 41 to 43 hours per week.

As a Insurance broker you will typically work weekends.

This occupation tends to be:

  • Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  • Conventional — Conventional occupations frequently involve following set procedures and
  • Read more about Insurance broker
    * from ONETonline
    Average salary
    43,581 GBP *
    per month
    16,000 GBP
    80,000 GBP
    Starting
    5+ Experience
    * data taken from the Office of National Statistics (ons.gov.uk)
    Average salary for Insurance broker

    Men make 28% more than Women
    49% of Insurance brokers are men
    Big gender gap
    • 50,149 GBP
    • 35,951 GBP
    Average salary for part-time Insurance broker
    Average salary for full-time Insurance broker

    Showing:
    • 19,406 GBP
    • 19,186 GBP
    • 20,666 GBP
    • 43,581 GBP
    • 35,951 GBP
    • 50,149 GBP
    Pay over time for Insurance broker

    Pay for this role has increased over time
    • 46,342 GBP
    • 43,195 GBP
    • 41,467 GBP
    • 42,504 GBP
    • 45,411 GBP
    • 43,581 GBP

    Future outlook for Insurance brokers

    pointer
    Poor outlook
    581 000+ jobs available
    pointer
    Balanced outlook
    -1% yearly wage growth (on average)

    Insurance broker - Your future job?


    Which qualifications do I need?

    Find out what you need to know in order to become a Insurance broker and the highest average level of education for people in this role.

    In terms of people already doing this job:

    • % of people in this role have a Bachelor's degree
    • % of people in this role have a Diploma of Higher Education or equivalent
    • % of people in this role have GCSEs or equivalent

    You'll need:

    •  the ability to use your initiative  
    •  to be thorough and pay attention to detail  
    •  patience and the ability to remain calm in stressful situations  
    •  sensitivity and understanding  
    •  the ability to accept criticism and work well under pressure  
    •  ambition and a desire to succeed  
    •  excellent verbal communication skills  
    •  customer service skills  
    • to be able to carry out basic tasks on a computer or hand-held device

    Get the right qualification to begin your journey to becoming a Insurance broker

    Insurance

    What soft skills do I need?

    Rise above the competition by brushing up on the 5 most important soft skills you need to become a Insurance broker.
    Reading Comprehension Understanding written sentences and paragraphs in work related documents
    Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times
    Speaking Talking to others to convey information effectively
    Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems
    Persuasion Persuading others to change their minds or behavior

    What technical skills do I need?

    Technical skills are programmes, softwares and things you need to know in order to be a successful Insurance broker. Check that you know:
    1
    Customer relationship management CRM software Allied Financial Software Act4Advisors; Applied Systems Vision; Insurance Technologies ForeSight Enterprise; Tangle S Creations Your Insurance Office
    2
    Enterprise resource planning ERP software
    3
    Financial analysis software Cygnus Software IncomeMax; Insurance analysis software; Insurance rating software; Underwriting software
    4
    Medical software Healthcare common procedure coding system HCPCS
    5
    Video creation and editing software Adobe Systems Adobe AfterEffects
    Improve your skills today

    Insurance

    Things to highlight for your Insurance broker interview

    Integrity Job requires being honest and ethical. Independence Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done. Attention to Detail Job requires being careful about detail and thorough in completing work tasks. Achievement/Effort Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks. Dependability Job requires being reliable, responsible, and dependable, and fulfilling obligations.

    Not sure if you are in the right job?

    Take our career change quiz