Insurance Broker Test

Insurance brokers act as intermediaries between clients, individuals or commercial businesses, organizations, and insurance companies. Typical employers of insurance brokers include large and small brokerages, financial advice companies, Insurance or reinsurance companies, and Insurance risk management departments.

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They use their in-depth knowledge of risks and the insurance market to find and arrange suitable insurance policies and cover. They act in the interest of their clients and offer products from more than one insurer to ensure that their clients get the best deal.

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Their primary tasks include:

• Building and maintaining business relationships with clients.
• Discussing and assessing clients' current and future insurance needs.
• Researching insurance policies and products.
• Negotiating policy terms and costs with insurance providers.
• Arranging insurance coverage for clients with the insurance provider.
• Collecting insurance premiums.
• Keeping records.
• Preparing reports for insurance underwriters.
• Advising clients on making claims on their policies.
• Renewing or amending existing policies for clients.
• Marketing services.

KEY SKILLS REQUIRED: 

• CONFIDENT NEGOTIATION SKILLS - Logical Reasoning 
• ACCURACY AND ATTENTION TO DETAIL
• ANALYTICAL SKILLS - Abstract Reasoning and Quantitative Aptitude 
• RESEARCH AND STUDY - Verbal Reasoning 
• DECISION MAKING - Logical Reasoning
• VERBAL AND WRITTEN COMMUNICATION SKILLS - Verbal Ability

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