Insurance intermediary salary

Working as an Insurance Broker

As an insurance broker, also known as an insurance salesperson or insurance advisor, you play a central role in the finance and insurance industry. Your primary responsibility is to broker insurance policies to customers, which includes analyzing their needs, providing advice on suitable insurance solutions, and assisting them in purchasing insurance. Your expertise helps customers protect their assets and future.

Salary for Insurance Brokers

The average salary for an insurance broker is 49 500 kronor per month. However, there is a noticeable difference between genders, with men earning an average of 54 000 kronor and women earning 45 000 kronor. This means that women earn approximately 83% of what men do in this profession.

For those working on an hourly basis, the average hourly wage is 298 kronor, based on an average of 166 working hours per month. While this provides an indication of what to expect in terms of salary, it is important to note that wages may vary depending on educational level, experience, and employer.

Salary Development and Disparities

Over the past year, the average salary for insurance brokers has increased from 47 400 to 49 500 kronor. The highest salary for a man in the profession is 64600 kronor, belonging to a privately employed executive with a post-secondary education of three years or more. On the other hand, the highest salary for a woman in the profession is 54200 kronor. The lowest salary for an insurance broker is 40700 kronor for a woman with a pre-secondary education, while the lowest for a man is 46300 kronor.

Education and Qualifications

To become an insurance broker, at least a high school education is typically required. However, many employers prefer candidates with post-secondary education in economics, finance, or insurance. The industry also offers internal training programs and certifications that can be beneficial for career advancement. Experience in sales and customer service is also valuable assets.

Working Conditions and Benefits

Working conditions for insurance brokers can vary depending on the employer and workplace. Many insurance brokers work in office environments and have the opportunity for flexible working hours and remote work. Some employers also offer benefits such as paid training and a company phone. However, benefits may vary, and it is important to inquire about what is offered in each specific position.

Future Outlook and Challenges

The future outlook for insurance brokers is difficult to assess due to limited data. The Public Employment Service has not made a specific forecast for this profession, which means there is not enough data to determine the long-term recruitment situation. However, it is important to be aware that technological advancements and automation may impact the job market for insurance brokers.

Things to Consider Before Applying for a Job as an Insurance Broker

Before applying for a position as an insurance broker, you should consider if you have the necessary skills and interest to work in sales and advisory roles. The ability to build relationships with customers and understand their needs is crucial for success in the profession. Additionally, staying updated on insurance products and industry regulations is important.

• Communication skills and attentiveness
• Analytical skills to assess customer needs
• Negotiation skills
• Knowledge of insurance products and industry regulations

In conclusion, the profession of an insurance broker offers an interesting career path for those interested in sales and customer advisory. With the right education and experience, you can expect a competitive salary and opportunities for career advancement in an ever-evolving industry.