Aimed primarily at an independent, organized, disciplined and psychologist, the insurance broker must also demonstrate method of persuasion, warning and possess excellent interpersonal skills while having advanced knowledge of technical assurance and be able to maintain a continuous watch to identify innovative products.

There are several kinds of brokers. The mortgage broker is contacted lender and borrower so that he can get the best rate available, while the stockbroker or Broker provides tools and IT services in the service of the trader or sunk. The insurance broker credit support you in negotiating and obtaining optimal conditions for the insurance of your loan or mortgage. The broker debt consolidation loan will attend to renegotiate the terms and conditions of a group of loans taken. We will quote, in the first part, the nature of the business, describe the advantages and disadvantages, continue with the training available and close by the rewards and opportunities.


The nature of the business of insurance broker

The insurance broker offers several types of insurance: auto insurance, motorcycle, home, real estate, health insurance, life insurance, funeral insurance. Internet, comparators provide insurance quotes and various offers available on the market. We must differentiate the work of the insurance broker that of the general agent, which is mandated by an insurance company. Self-employed, the register of commerce and trades, the broker is liable and subject only to laws, regulations and supervision of the Ministry of Economy, Finance and Industry. Licensed professional and recognized, it has special links with insurance companies, credit companies, banks. His customers, mostly by businesses, and it will aim to explore with insurers to negotiate contracts and costs the most interesting.

That its clients are companies or individuals, it should help the insured to make a choice, advise and defend its interests while participating in the design of customized contracts to meet their specific needs. Moreover, it is responsible for conducting administrative installation, like coding and pricing, records that cover primarily insured risk as accident, life insurance or reinsurance, then negotiate the terms of guarantee offered by insurance companies to its customers. It must at the same time make frequent travel involved in business development and product sales.

Initially, the broker transacts business within a brokerage firm as an associate or assistant employee responsible for insurance management, before dealing with empowering activities, then it will over time open its own structure or buy a portfolio of clients. Autonomous, it will ensure the financial, human resource management and allocation, monitoring and control of technical and administrative operations. It must be fluent in English, have knowledge of foreign markets necessary to protect companies from potential problems such as stock market or those related to geopolitical or climate. It will be able to prevent changes that may occur in the personal situation, environment or occupation of the insured and provide him with adequate protection.

In summary, the business broker is both office work and field, and is subject to conditions of nationality, age and respectability. Recently, brokerage firms, who exercise their activities mainly in large urban areas, undergo restructuring as the grouping of firms, takeovers of domestic companies by companies across the Channel, requiring a constant effort to brokerages , in terms of financial strength and responsiveness, to cope with new threats. Regarding the advantages and disadvantages of being a broker, if the job is rewarding for fans who appreciate the self constant contact with customers is also an unstable profession in compensation, depending mainly on commissions granted by insurance companies.

Training and career development

To become a collaborator in a brokerage firm must have a Bac + 2 in insurance, type BTS or DUT or DEUST. If one opts for a Bac + 3, we obtain a professional degree Banking, insurance, specialty finance or legal management of insurance contracts. Bac + 5, for the acquisition of an engineering degree or a diploma from the Ecole Nationale or ENASS Assurance among others lead to a rapid evolution, and gaining experience, to direction of a brokerage firm. Bac + 4 commercial or legal training allows staff to be part of a brokerage firm. To settle his account, a business card, issued after 150 hours to 600 hours of additional training is required.

The broker, who earn commission varies depending on the cases handled, will make keeping a strict budget, which will depend on its activity and coverage of overhead costs. If he is employed and young associate in a brokerage firm, he will win between 30 000 and € 38 000 per year, and over 40 000 € if it is part. They will be paid by fixed fees and collect a fee if it evolves as a board. In terms of career, after several years of experience, the broker will be responsible for customer, held a responsible position or create his own brokerage firm.