Insurance Broker Duties & Responsibilities
The role and function of an Insurance Broker includes the following duties and responsibilities:
- Creating marketing initiatives to attract new clients.
- Meeting with potential clients to discuss their insurance needs.
- Researching all the available policy options for the client.
- Advising clients on when and how to make a claim on their policy.
- Preparing reports for underwriters.
- Updating existing policies.
- Maintaining client relationships.
- Negotiating with underwriters to get the best policy at the best price.
- Presenting policy details to the client and signing the policy agreement.
- Collecting premiums.
- Processing client accounts.
- Advising clients on risk management initiatives.
Note that this is not an exhaustive list of Insurance Broker duties and responsibilities. Job functions for specific Insurance Broker roles may vary, depending on the industry and type of employer.
