Insurance Agent 611211

SOL | State SOL | Employer SOL| Regional

Description
Represents insurance companies in selling insurance to clients. Registration or licensing is required.

Skill Level 3

Specialisations
Insurance Underwriter
Life Assurance Representative

Skills Assessment Authority VETASSESS - Caveats Group D | VETASSESS-FAQ | Your Career

Caveats No caveats 

Group: 6112 Insurance Agents

Description
represent insurance companies in selling insurance to clients.

Tasks
interviewing clients to identify their insurance needs
explaining to clients details of insurance and conditions, risk coverage, premiums and benefits
assisting clients to determine the type and level of coverage required
calculating premiums and establishing method of payment
reviewing clients' circumstances to ensure that the level and coverage of insurance is still appropriate
settling and monitoring insurance claims to ensure that both client and insurer are satisfied with the outcome
recording information about clients and their policies
identifying and drawing up lists of potential clients from a variety of sources and contacting them to arrange interviews
keeping up-to-date with changes in the insurance industry and informing clients of new developments

Skill Level
Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below.

In Australia:
AQF Certificate III including at least two years of on-the-job training, or AQF Certificate IV (ANZSCO Skill Level 3)

In New Zealand:
NZ Register Level 4 qualification (ANZSCO Skill Level 3)

At least three years of relevant experience may substitute for the formal qualifications listed above. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification.

Registration or licensing is required.

Requirements for Skills Assessment

This occupation requires a qualification assessed as comparable to the education level of an Australian Qualifications Framework (AQF) Certificate IV or higher and in a field highly relevant to the nominated occupation.

In addition to the above, it is essential for applicants to meet the following employment criteria:

• at least one year of post-qualification employment at an appropriate skill level,
• undertaken in the last five years,
• working 20 hours or more per week, and
• highly relevant to the nominated occupation.

If the qualification is not in a highly relevant field, then the applicant must have:

• two years of post-qualification employment experience at an appropriate skill level,
• undertaken in the last five years,
• working 20 hours or more per week, and
• highly relevant to the nominated occupation.

If the applicant holds a qualification assessed as comparable to the educational level of an Australian Qualifications Framework (AQF) Certificate III in a field highly relevant to the nominated occupation, then three years of highly relevant employment undertaken in the last five years is required.

If employment has occurred before completion of qualification, then three years of highly relevant employment experience are required in addition to at least one year of highly relevant employment at an appropriate skill level in the last five years.

Please note in order to achieve a successful Skills Assessment Outcome, a positive assessment for both qualifications and employment is required.

*If employment is prior to the completion of the qualification at the required level, an applicant must have at least one year of highly relevant employment at an appropriate skill level within the last five years. The remaining three years of pre-qualifying period may be within the last ten years. A positive assessment of both qualification level and employment duration is required for a positive Skills Assessment outcome.

Qualification

AQF Certificate IV or higher qualification*
Highly relevant majors of study include Insurance,
Business, Commerce and Management.

* This includes qualifications assessed at AQF Diploma, Advanced Diploma, Associate Degree, Bachelor, Master and Doctoral level

Employment Information

Insurance Agents sell insurance through various means, such as in person, over the phone, or online. With experience, they may lead and mentor teams of agents, set sales targets and ensure these are met. They maintain their knowledge of relevant products and industry development.

 Insurance Agents may sell insurance from a single company, or represent multiple companies. They usually receive commission on their sales.

 Some Insurance Agents own and manage an insurance agency. In addition to the general tasks associated with this occupation, they may oversee the day-today running of the agency, coordinate the work of other agents, and handle administrative and financial transactions for the agency.