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Insurance Broker

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Insurance brokers give independent advice on all aspects of insurance. They act as a link between clients who need insurance cover and the companies that provide it. They help clients to choose the best insurance policies for their needs.

The Work

You could be:

Pay

The figures below are only a guide. Actual pay rates may vary, depending on:

The starting salary is likely to be between £16,000 and £23,000 per year. Qualified and experienced brokers can earn between £23,000 and £40,000 a year. Senior brokers earn between £40,000 and £70,000 a year, or more. There may also be benefits such as performance-related bonuses, cheap insurance and a pension scheme.

Conditions

Workforce Employment Status

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Getting In

There are jobs with small firms which operate mainly in their local area and with large firms which have branches throughout the country and sometimes internationally.

Workforce Education Levels (UK)

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Job Outlook Scotland

Employment

Unemployment

Percentage of workforce registered as unemployed (Scotland)

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Job Outlook Scotland and UK

  Scotland
2018
2218
1.2 %
RISE
2023
2245
  United Kingdom
2018
43727
2.6 %
RISE
2023
44844

LMI data powered by EMSI UK

What Does it Take?

You need to have:

You need to be:

Training

Getting On

Contacts

The following organisations may be able to provide further information.

British Insurance Brokers` Association (BIBA)
Tel: 0370 950 1790
E-mail: enquiries@biba.org.uk
Website: http://www.biba.org.uk/
Twitter: @BIBAbroker

Chartered Insurance Institute (CII)
Tel: 020 8989 8464
E-mail: customer.serv@cii.co.uk
Website: http://www.cii.co.uk/
Website (2): http://www.discoverrisk.co.uk/
Twitter: @CIIGroup

Financial Conduct Authority (FCA)
Tel: 0800 111 6768
Website: http://www.fca.org.uk
Twitter: @TheFCA

The FCA is the regulatory authority for the financial services industry in the UK. Their aim is to protect consumers, ensure the industry remains stable and promote healthy competition between financial services providers.

Lloyd's
Tel: 020 7327 1000
E-mail: enquiries@lloyds.com
Website: http://www.lloyds.com
Twitter: @LloydsofLondon
Facebook: https://www.facebook.com/lloyds

London Institute of Banking and Finance
Tel: 01227 818609
E-mail: customerservices@libf.ac.uk
Website: http://www.libf.ac.uk
Twitter: @StudyLIBF
Facebook: https://www.facebook.com/StudyLIBF

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