Insurance broker to insurance risk consultant
An insurance broker already meets 37% of what the insurance risk consultant role asks for. The move turns on 9 required skills not yet in the profile.
60.9/ 100
1 How much of what an insurance risk consultant is expected to do is already part of an insurance broker’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the insurance risk consultant role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
An insurance risk consultant role treats 5 of its required skills as things an insurance broker already does. You would walk in with these on day one.
- actuarial science
- analyse insurance risk
- insurance law
- principles of insurance
- types of insurance
What stands in the way is 9 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 12 skills that carry over, these are the ones fewest other occupations ask for. An insurance risk consultant role needs them, and most people applying for one will not have them already. This is the part of an insurance broker background worth leading with.
- already held calculate insurance rate information skills
- already held decide on insurance applications management skills
- already held claims procedures business, administration and law
- already held create insurance policies communication, collaboration and creativity
- already held organise a damage assessment management skills
- already held analyse insurance risk information skills
All 12 carried skills, including the 5 the insurance risk consultant role treats as required.
Table 3 · What you may need to learn
The 20 missing skills fall into 4 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn conduct financial surveys required
- still to learn estimate damage required
- still to learn advise on risk management required
- still to learn analyse financial risk required
- still to learn obtain financial information required
- still to learn perform risk analysis required
- optional, not held collect property financial information optional
- optional, not held compile statistical data for insurance purposes optional
- optional, not held create risk maps optional
- optional, not held create underwriting guidelines optional
- optional, not held produce materials for decision making optional
- optional, not held review insurance process optional
- optional, not held perform debt investigation optional
- optional, not held provide support in financial calculation optional
- optional, not held synthesise financial information optional
- still to learn risk identification required
- optional, not held debt systems optional
- still to learn survey techniques required
- optional, not held statistics optional
- still to learn prepare survey report required
Table 4 · Where to start
The 3 entries an insurance risk consultant role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 conduct financial surveys practise this
- 02 estimate damage practise this
- 03 advise on risk management practise this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 12 skills that carry over
- already held actuarial science knowledge
- already held analyse insurance risk skill
- already held insurance law knowledge
- already held principles of insurance knowledge
- already held types of insurance knowledge
- already held apply statistical analysis techniques skill
- already held calculate insurance rate skill
- already held claims procedures knowledge
- already held create insurance policies skill
- already held decide on insurance applications skill
- already held modern portfolio theory knowledge
- already held organise a damage assessment skill
11 supplementary skills, helpful but not required
- optional, not held collect property financial information optional
- optional, not held compile statistical data for insurance purposes optional
- optional, not held create risk maps optional
- optional, not held create underwriting guidelines optional
- optional, not held produce materials for decision making optional
- optional, not held review insurance process optional
- optional, not held debt systems optional
- optional, not held perform debt investigation optional
- optional, not held provide support in financial calculation optional
- optional, not held statistics optional
- optional, not held synthesise financial information optional
34 held skills the insurance risk consultant role does not ask for
- not needed by the target role advise on financial matters skill
- not needed by the target role analyse claim files skill
- not needed by the target role analyse insurance needs skill
- not needed by the target role apply technical communication skills skill
- not needed by the target role build business relationships skill
- not needed by the target role compare insurance products skill
- not needed by the target role contract law knowledge
- not needed by the target role create cooperation modalities skill
- not needed by the target role customer service knowledge
- not needed by the target role deliver visual presentation of data skill
- not needed by the target role develop investment portfolio skill
- not needed by the target role file claims with insurance companies skill
- not needed by the target role financial products knowledge
- not needed by the target role handle financial transactions skill
- not needed by the target role identify clients' needs skill
- not needed by the target role inform on insurance products skill
- not needed by the target role initiate claim file skill
- not needed by the target role insurance market knowledge
- not needed by the target role maintain records of financial transactions skill
- not needed by the target role maintain relationship with customers skill
- not needed by the target role manage claim files skill
- not needed by the target role manage claims process skill
- not needed by the target role manage contract disputes skill
- not needed by the target role manage contracts skill
- not needed by the target role monitor legislation developments skill
- not needed by the target role promote financial products skill
- not needed by the target role prospect new customers skill
- not needed by the target role protect client interests skill
- not needed by the target role provide cost benefit analysis reports skill
- not needed by the target role sales promotion techniques knowledge
- not needed by the target role sell insurance skill
- not needed by the target role social security law knowledge
- not needed by the target role tax legislation knowledge
- not needed by the target role use data processing techniques skill
4 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn risk identification required
- still to learn survey techniques required
- optional, not held debt systems optional
- optional, not held statistics optional
Other moves recorded from insurance broker
- insurance collector 51% covered · moderate
- insurance claims handler 50% covered · moderate
- property insurance underwriter 46% covered · substantial
- insurance rating analyst 40% covered · substantial
- insurance underwriter 40% covered · substantial
- loss adjuster 39% covered · substantial
- insurance agency manager 39% covered · substantial
- insurance fraud investigator 38% covered · substantial
Common questions about this move
Can an insurance broker become an insurance risk consultant?
Yes, and it is a substantial move. An insurance broker already covers 37% of what an insurance risk consultant is expected to do: 12 skills carry over, 5 of which the insurance risk consultant role treats as required.
What skills does an insurance broker need to become an insurance risk consultant?
9 required skills are missing, plus 11 optional ones. They fall into 4 areas of the ESCO skill hierarchy, led by information skills. The single most important is conduct financial surveys.
How hard is the move from insurance broker to insurance risk consultant?
Its learning distance is 60.9 out of 100, which is the substantial band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.