Insurance Broker

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for more info about this career

What is LONG Term Insurance?

• The term LONG term insurance covers a wide range of products, including life, disability, dreaded disease cover, income protection policies, endowments, retirement annuity funds, living annuities and compulsory annuities, etc.

PLEASE NOTE:

• As a Long-Term Insurance Broker you will need a BSc degree and if you go into medial insurance you will need 60 credits on N5 and for property syndication you will need NQF level 6. Some Insurance Companies will acknowledge a BCom or LLB degree.

TRAINING:

• CLICK HERE to check for a training institution near you to see what they offer.
• Make sure you understand their entry requirements for each course.
• To avoid scams, make sure your institution is registered with the Department of Higher Education. CLICK HERE to check accredited Private Higher Education Institutions.
  

Other names for Valuer:

Asset Protection Manager
Commercial Valuer
Farm / Land Appraiser
Plant and Machinery Valuer
Property Valuer
Real Estate Valuer
Valuation Advisor / Analyst / Officer

What is a Valuer?

A Valuer (or sometimes known as an Appraiser) is the person who determines what the value of something is.

For instance:

• Property
• Jewellery and Coins
• Boats & Yachts
• Antiques
• Cars etc

You often find Valuers working for insurance companies, estate agents, auctioneers, museums etc where the company needs to know exactly how much something is worth. This information is used to determine the price of insurance and payouts to claims, what a house/building should sell for etc.

A Valuer’s job is extremely important. If they don’t get the price right, the client or company they are working for could suffer financially.

What does a Valuer do?

(depending who they are working for)

• visits sites to see what needs appraising
• takes photos and makes extensive notes
• does research of current pricing of similar goods/services
• compares pricing
• write reports and advises client/company
• keeps up to date with the market trends

Are you . . . ?

• observant?
• inquisitive?
• detail orientated?
• determined?
• ambitious?
• responsible and reliable?
• a good communicator?
• willing to travel?
• good at mathematics?

How do I become a Valuer?

Well, this will depend on which field of appraising you’d like to work in. 

For instance:

• Property
• Antiques
• Art etc

Whatever sector appeals to you, it would be an advantage to have some form of relevant qualification. You will need background skills and knowledge.

Once you have your qualification, it would be advisable to get an entry level job in that sector. Once in, collect as much skills and experience as you can. Becoming a Valuer does NOT happen overnight. It’s one of those jobs that requires years of hands-on experience and knowledge to be a good one.

TRAINING:

• CLICK HERE to check for a training institution near you to see what they offer.
• Make sure you understand their entry requirements for each course.
• To avoid scams, make sure your institution is registered with the Department of Higher Education. CLICK HERE to check accredited Private Higher Education Institutions. 

OTHER CAREERS TO CONSIDER: Insurance Broker or Estate Agent

Is becoming a Valuer the right career choice for me?

Insurance Broker

CLICK HERE

for more info about this career

What is SHORT Term Insurance?

• The term SHORT term insurance covers valuable possessions and assets, for example: a car, boat, jewellery, cameras, etc. These items are insured in case of theft, fire or loss, etc.

PLEASE NOTE:

• As a Short-Term Insurance Broker you will need need matric and at least one years experience.  In the future however the requirements will be 60 NQF 4 credits to continue.

• Watch out for learnership opportunities. Sometimes insurance companies offer them. Visit our website often. CLICK HERE

TRAINING:

• CLICK HERE to check for a training institution near you to see what they offer.
• Make sure you understand their entry requirements for each course.
• To avoid scams, make sure your institution is registered with the Department of Higher Education. CLICK HERE to check accredited Private Higher Education Institutions.
  

OFO No: 332102

Other names for Insurance Broker:

Short Term Insurance Consultant

What is an Insurance Broker?

An Insurance Broker sells insurance from various insurance companies to clients for:

• Life Insurance
• Accident Insurance
• Medical Insurance
• Industrial / Commercial Insurance
• Home Insurance etc

An Insurance Broker will have a wealth of knowledge about all sorts of insurance products and will therefore advise clients on which options would suit them best.

Although Insurance Brokers are meant to have the client’s best interest at heart, the Insurance Broker gets paid commission on what they sell. Sometimes these two ideas will conflict. It’s important that the Insurance Broker remains fair and ethical. Their reputation as a good Insurance Broker depends on it.

When a client wants to make a claim against the insurance policy, the Insurance Broker will assist their client to see it through and that they are paid out what they deserve.

What does an Insurance Broker do?

• liaises with clients
• discusses the needs and wants of the client
• suggests various insurance policy options and states all the facts (good and bad) about each
• helps clients fill in the necessary documentation for application
• files information
• keeps up to date with new insurance products from all the insurance companies
• attends insurance companies presentations of new products
• helps clients with claims and queries etc

Are you . . . ?

• a people’s person?
• a good communicator?
• a good negotiator?
• good at comprehension?
• responsible and reliable?
• observant?
• ambitious? 
• target driven?

How do I become an Insurance Broker?

It’s not compulsory for you to have a qualification BUT if you have one, your career path should be a lot easier.

If you want to start straight from school, try and get an entry level job in an insurance company. Learn as much as you can and work your way up the corporate ladder.

Or, once qualified it would be highly recommended to get a job in an insurance company. While there, collect as much experience and skills as you can. Learn the company’s various policies inside and out as well as other insurance companies products, before making your move as an Insurance Broker.

The more knowledge you have the better broker you’ll be.

TRAINING:

• CLICK HERE to check for a training institution near you to see what they offer.
• Make sure you understand their entry requirements for each course.
• To avoid scams, make sure your institution is registered with the Department of Higher Education. CLICK HERE to check accredited Private Higher Education Institutions. 

OTHER CAREERS TO CONSIDER: Budget Analyst or Estate Agent

Is becoming an Insurance Broker the right career choice for me?