|
|
Insurance brokers are also known as insurance sales agents or insurance agents or insurance account executives. They are trained professionals who specialize in arranging meetings with clients on appropriate insurance policies. We all know how important a role insurance plays in our lives. Apart from providing financial protections in case of an unfortunate accident, insurance also protects property and other possessions. It is not an easy task to choose right insurance policies when so many policies and insurance companies are available in the market. In such situations, insurance agents help us in choosing and purchasing appropriate policies. An insurance broker takes into consideration different needs and requirements of individuals and families and accordingly suggests the policies. He can sell insurance of different types like disability, health, property, life, and casualty.
If you want to pursue a career in insurance broking in UK, you can apply for a graduate training scheme. This is applicable for university graduates only. The course is hugely competitive and this field in general offers good growth opportunities. Usually, graduate trainees are offered a permanent job at the end of the training program. To get into the course, one needs to possess good academic qualification and excellent interview skills. Many other students prefer to take an entry level position and working their way up after proving their commitment and skill. One should have good GCSE results (including A-C grades in English and Math) and A-Levels. To move further up in the order, one should go for additional qualifications such as certification from the Chartered Insurance Institute (CII) (CII). Those who manage to complete CII Advanced Diploma in Insurance will be awarded with Chartered Insurance Broker status.
In USA, the Insurance Brokers Act came into existence in 1977. Since then, insurance agent and insurance broker are considered as one and same thing. An insurance agent in USA is responsible for providing individuals and families with financial security and protection. Those wishing to make a career as an insurance broker need to study subjects like math of finance, tax law, investment planning, business administration, accounting, oral and written communication and business law.
An insurance agent, once he is appropriately certified, can work as actuary, stock broker, training manager, insurance adjuster, underwriter and retirement planner. His primary role will be to sell various insurance policies from a select group of insurance underwriters. As such, there is no college degree required for an insurance agent but he should have at least a 2 year Associates degree. In addition to educational qualification, an insurance agent needs to get licensed if he wants to specialize in life and health insurance. Those who wish to get into investment and retirement plans will have to get certification from the National Association of Securities and the Securities Exchange Commission.
In India, some of the institutes offering courses in insurance are:-
ICFAI School of Finance and Management, Hyderabad
Actuarial Society of India, Mumbai
International School of Actuarial Sciences (ISAS), Hyderabad
Amity School of Insurance and Actuarial Science, Noida
International Institute for Insurance and Finance, Hyderabad
Birla Institute of Management & Technology, New Delhi
College Of Insurance, Mumbai
Institute of Insurance & Risk Management, Hyderabad
National Insurance Academy, Pune
|
|
