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Insurance Adviser

Kaitohutohu Inihua

Insurance advisers give advice about insurance and sell insurance to clients.

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Secondary education

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.

Study fields

Study levels

  • Certificate
  • Up to NCEA Level 3

Useful experience

Useful experience for insurance advisers includes:

  • other insurance work such as working in claims or customer service
  • sales or call centre work.

What you will do

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.

Skills and knowledge

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.
Pay

Insurance advisers usually earn

$60K-$100K

per year

Experienced insurance advisers usually earn

$70K-$130K

per year

Job opportunities
Good
Chances of getting a job as an insurance adviser are good due to steady demand for their services.

Industry

Finance

Insurance advisers give advice about insurance and sell insurance to clients.

Similar jobs in this industry

Entry requirements

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.

Chances of getting a job

Specialist insurance advisers in demand

Demand is best for insurance advisers who:

  • specialise in liability, rural, legal or professional indemnity
  • have a New Zealand Certificate in Financial Services (Level 5)
  • can speak another language to give insurance advice to migrant businesses in New Zealand.

According to the Census, 8,115 insurance advisers worked in New Zealand in 2018.

Types of employers varied

Insurance advisers may work for:

  • insurance companies
  • financial institutions
  • brokerage firms.

Find out more about training

Australian and New Zealand Institute of Insurance and Finance (ANZIIF)
0800 103 675 - customerservice@anziif.com - www.anziif.com
Insurance Brokers Association of New Zealand (IBANZ)
09 306 1732 – www.ibanz.co.nz
Strategi
09 414 1300 - support@strategi.ac.nz -  https://shop.strategi.ac.nz

Progression and specialisations

Insurance advisers may progress to financial adviser or management roles, or move into other insurance industry roles such as:

  • insurance loss adjuster
  • underwriter.

Insurance advisors may specialise in different types of insurance, such as:

  • commercial
  • health
  • life
  • marine
  • property.

Working conditions

Insurance advisors:

  • usually work regular business hours, but may work weekends or evenings to meet deadlines
  • work in offices but may travel locally to visit clients.

Useful personal qualities

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.

Industry

Finance

Insurance advisers give advice about insurance and sell insurance to clients.

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