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Salary and Benefits

Insurance Broker
$58K-$71K / yr. (est.)
$59K
$65,376 / year
$72K
Average base salary
The salary information provided is based on data collected from various reliable sources and may vary depending on individual qualifications and other factors.

About Insurance Broker

What does an Insurance Broker do?

As Insurance Brokers, we are responsible for selling insurance plans to new customers, up-selling programs to existing customers, and cultivating lasting relationships. We create marketing initiatives to attract new customers. We meet with customers to discuss their insurance requirements. We research all the available policy options for the customer.

Core tasks:

  • presenting policy details to the customers and signing the policy agreement
  • negotiating with underwriters to get the finest policy at the best rate
  • advising customers on risk management initiatives
  • advising customers on when and how to claim on their policy
  • collecting premiums and processing customers accounts

Insights

How Many Years of Experience Do Professionals Need Before Becoming Insurance Broker?
On average, people work 5-7 years in other positions prior to becoming a Insurance Broker.
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Insurance BrokerBoston, MA - A year ago
well, maybe those 5-7 years in other positions help insurance brokers to gain more knowledge and understanding of the industry. 🤷
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Insurance BrokerSeattle, WA - A year ago
isn't it important for insurance brokers to have a diverse background? The 5-7 years in other positions could bring valuable perspectives. 🤔
How Long Do Insurance Broker Employees Typically Stay in Their Roles?
On average, Insurance Brokers works in this position for 5+ years across multiple employers.
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JournalistWashington, D.C. - A year ago
Wow, impressive! You must have encountered countless stories of clients' insurance claims. Mind sharing any memorable ones?
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ProfessorBoston, MA - A year ago
Interesting infographic! The range of experience in this job title could provide valuable insights into insurance practices and market trends. Any overall observations?
What Is the Job Hopper Score for Insurance Broker Employees?
Moderate job changes in Insurance Broker, showing some career movement without excessive turnover.
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HR ManagerHouston, TX - A year ago
This infographic lacks data on employee satisfaction and retention in the insurance industry. Without that information, it's unrealistic to judge the true benefits of being an Insurance Broker.
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Customer Service RepresentativeMiami, FL - A year ago
👎 I've heard horror stories from my customers about pushy Insurance Brokers. This infographic doesn't account for the negative experiences many people have had and reinforces the wrong image.

Career path

Path to job

Discover a Insurance Broker's areas of knowledge sorted by their majors.
Explore the list of higher education institutions that a Insurance Broker typically studied at.
Arizona State University-Tempe
California State University-Northridge

Path after job

Community

Demographics

What Is the Age and Gender Ratio of Insurance Broker Employees?
Gender ratio in Insurance Broker position: 0.692817031263096 Male and 0.307182968736904 Female. Age ratio in Insurance Broker position: 16-20: 6%, 21-30: 50%, 31-40: 23%, 41-50: 13%, 51-60: 6%, 60+: 2%. Insurance Broker position is predominantly male (69.3%) with the largest age group being 21-30 years old, followed by 31-40 years old.
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Insurance BrokerMiami, FL - A year ago
No wonder there's a lack of diversity! We need to break these gender and age stereotypes ASAP! 🚫
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Insurance BrokerSeattle, WA - A year ago
Well, maybe it's not just about gender and age, but also the need for better outreach and mentorship programs to attract a more diverse talent pool. 👍

Workplaces

Who Are the Top Employers for Insurance Broker?
Top employers of Insurance Broker position: Farmers Insurance, HealthMarkets, Insphere Insurance Solutions. People who work in Insurance Broker position most typically go on to work for the Farmers Insurance.
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Insurance BrokerMiami, FL - A year ago
Why limit ourselves to just these employers? There are plenty of other great companies out there for Insurance Brokers. Let's explore more options! 🌎
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Insurance BrokerSeattle, WA - A year ago
Hey, Farmers Insurance might be the top choice but let's not overlook the importance of company culture and work-life balance in choosing an employer. There's more to consider than just the name! 💼
Farmers Insurance
HealthMarkets
Insphere Insurance Solutions
What Industries Does Insurance Broker Typically Have Experience In?
Industry Background: The most typical industries of Insurance Broker: Finance & Insurance, Mining / Oil & Gas, Retail, Professional / Scientific / Technical, Administrative & Support. Insurance Broker employees most likely come from a Finance & Insurance industry background.
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Insurance BrokerHouston, TX - A year ago
Insurance brokers are a necessary evil in this cutthroat industry. They squeeze every penny out of you!
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Insurance BrokerMiami, FL - A year ago
Being an insurance broker in Miami is exciting because there's always a new opportunity around the corner! 💼

Find your job as Insurance Broker

Discussion about Insurance Broker

Want to know more about Insurance Broker position?
Share your thoughts and ideas about Insurance Broker position with others in our community.
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Do a lot of women work as an Insurance Broker?
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Isabella Holmes4 years ago
Mostly men choose this job, but women also choose this.
What is the most common age of an Insurance Broker?
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Liam Brown4 years ago
The average age is 32
How much experience is typically required to work as an Insurance Broker?
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Benjamin Gardner4 years ago
You should work for 6 years on average to become an Insurance Broker.
Which industries does a Insurance Broker typically work in?
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Sophie Hayes4 years ago
Finance & Insurance employs the most.
Is a higher education needed as an Insurance Broker?
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Isabella Holmes4 years ago
No higher education could not hurt if you want to be an Insurance Broker
As an Insurance Broker, which company should I definitely check out for jobs?
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Sophie Hayes4 years ago
Farmers Insurance, HealthMarkets, Insphere Insurance Solutions and Symmetry Financial Group has the most employees.
How many years of experience as an Insurance Broker is needed in average to switch to another position?
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Sophie Hayes4 years ago
An Insurance Broker typically changes positions after more than 5 years.
How common is it for an Insurance Broker to jump from company to company?
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Isabella Holmes4 years ago
A typical Insurance Broker might work for one or two companies.
What work history do people usually have before becoming an Insurance Broker?
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Benjamin Gardner4 years ago
Typical prior positions for an Insurance Broker are Insurance Agent, Agent or Account Executive
If I’m working as an Insurance Broker, what next position could I have?
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Liam Brown4 years ago
Vice President, Insurance Agent or Account Executive can be a good next step
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Disclaimer

informationLENSA generates certain information provided on this website by compiling and analyzing publicly available data and data from employees/former employees. All company names are the registered trademarks of their original owners. The use of any trade name or trademark does not imply any association with the third-party company. None of the information provided is endorsed in any way by any of the companies mentioned. We do not guarantee the accuracy, currency, or suitability of this information (including regarding demographics or salary estimate) and you are responsible for how you use it. ALL INFORMATION IS PROVIDED “AS IS” AND “WITH ALL FAULTS”. We are not responsible for nor endorse third party content on our website. If you notice any inaccurate information or information you think is proprietary you can email us at [email protected]. See our Terms and Conditions and Community Guidelines for more information.