A day in the life of an Insurance Broker in the UK 

Glad you enjoyed it

Glad you think so!

I don’t know who either of those are so can’t comment! Glad you liked the video!

I dont understand the question, can you ask it another way?

@@GaryDas like what to expect when you in collage and study aspects

@@Gamingyt-kq6dc Hey, check out ru-vid.com they offer advice on insurance qualifications

You have no protection against an error made if you claim, the risk and advice is against you. Insurance is complex and buying online has a much lower payout rate than taking advice and having the support and protection of the adviser to make sure your cover and provider is the most suitable every couple of years

If you work for a decent brokerage you'll get preferential rates from the insurers (you can usually cut your commission entitlement a bit if need be, to get you over the line). You can also try to inform them that most comparison sites don't take into account medical underwriting factors which might affect the premium.

Commission is payable based on the premium. Roughly for every £10 a person spends the commission paid is £200. That can either be taken as a lumpsum with a 24-48 month sliding scale liability or paid over the 24 to 48 months depending on the insurer. The payment from employer is dependant on package offered and very specific to each employer. I pay a salary + commission bonus quarterly in my firm to insurance advisers.

Amazing work dude!!! Thats such a broad question... work hard, have fun, be kind!

Hey I have just completed a similar apprenticeship, what’s the company?

Hey Rhiana, congrats, not much maths and nothing a calculator or excel speadsheet won't cover. Best advice - find out the types of insurance you will be selling/arranging then go to the insurer websites and get reading

There are quite a few, we have apprenticeships in our offices to

hows it going so far with ur apprenticeships?

Learn sales .. everything you can about sales!

You are welcome

@@GaryDas your so good

Good for you. Not sure you comment makes complete sense, but hey ho!

Speak to your employer about career progression. Ask them if it is worth it or find a job elsewhere. Some firms value qualifications others don’t. Depends on the career you want!

🙌

Totally with you - but there is a way to manage that objection. Dont provide 'quote' as it implies someone should shop around.

@@GaryDas Currently learning that but that is good advice. If they start to ask for discount rates, I’ve learnt that if you say you will only discount the rate when they are looking to go ahead and that you will only give the discounted price on one phone call, it seems to increase the clients decision of saying yes.

That doesnt make sense?

Tell that to the millions of pounds insurance companies pay out every year on life insurance, critical illness, income protection and health insurance

They know but they're not admitting the fact that they are scammers.

Read your policy wordings and it wont be a scam. If you arent happy with the terms of your coverage get a different policy

Great!!

​@@Kr1s25 I have never, not ONCE, heard of a claim where the person wasn't at fault. I don't mean a car accident. I mean 99% of the time they bought the cheapest insurance from some garbage barely legal company, never read the actual policy schedule and what it covers (and usually it covers jack shit - hence why its so cheap), and then when a claim happens they're OUTRAGED that it didn't pay out. The remaining 1% is people who lied on their application. But people with more than 2 braincells to rub together do it right and guess what, insurance companies call a year where they make 3% more money than they paid out a good year... for most businesses thats A HORRIBLE revenue but for insurers it's okay. Why? Because they pay out millions or billions daily.