Insurance Broker

• renewing or changing existing policies
• ensuring cover and documentation meets legal and regulatory requirements
• gathering information from clients to assess their insurance needs and evaluating their risks
• researching policies from a number of insurance companies, comparing features, level of cover and price
• arranging insurance cover for clients, submitting details to insurers
• negotiating with insurers for policies at the best terms
• inputting data to a computer system, issuing documentation and keeping detailed records
• collecting insurance premiums and processing accounts
• advising customers who are making a claim their insurance policy
• preparing reports for insurance underwriters and surveyors, in complex cases.

Retail insurance brokers usually focus on sourcing general insurance cover for individuals or companies, such as motor, home, pet or travel cover for individuals or property damage and business interruption for companies.

Commercial insurance brokers deal with more complex, higher value and sometimes really unusual requests, such as insuring a fleet of ships or sportspeople and celebrities.