Insurance Adviser Kaitohutohu Inihua
Insurance advisers give advice about insurance and sell insurance to clients.
Insurance advisers are required to register on the Financial Service Providers Register.
- Financial Services Providers website - information about registering as a financial service provider
Insurance advisers may do some or all of the following:
- interview clients to identify their insurance needs
- explain details of insurance and conditions, risk coverage, premiums and benefits to clients
- advise clients on which insurance policies are right for them
- analyse clients current insurance policies and suggest additions or changes
- calculate insurance premiums
- negotiate renewal premiums with insurers and clients
- record information about clients and their policies.
Useful experience for insurance advisers includes:
- other insurance work such as working in claims or customer service
- sales or call centre work.
Insurance advisers need to be:
- able to relate to a wide range of people
- competitive and persistent
- confident with making sales
- excellent negotiators
- good at building and maintaining relationships
- organised, self-motivated and disciplined
- patient and helpful
- strong communicators.
Insurance advisors need to have knowledge of:
- the insurance industry
- insurance policies, including what each policy covers
- relevant government policies such as tax requirements, benefit allowances and accident compensation
- relevant laws such as the Privacy Act and the Human Rights Act.
- usually work regular business hours, but may work weekends or evenings to meet deadlines
- work in offices but may travel locally to visit clients.
There are no specific secondary education requirements to become an insurance adviser. However, accounting, business studies, English and maths to at least NCEA Level 2 are useful.
Insurance advisers may progress to financial adviser or management roles, or move into other insurance industry roles such as:
- insurance loss adjuster
Insurance advisors may specialise in different types of insurance, such as:
Years Of Training
Insurance advisers and insurance support professionals are required to have a New Zealand Certificate in Financial Services (Level 5).
Insurance advisers can also get professional qualifications on the job through the Australian and New Zealand Institute of Insurance and Finance (ANZIIF), which offers certificates and diplomas that focus on developing technical insurance skills.