Insurance collector to insurance broker
An insurance collector already meets 44% of what the insurance broker role asks for. The move turns on 8 required skills not yet in the profile.
61.8/ 100
1 How much of what an insurance broker is expected to do is already part of an insurance collector’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 broker role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
An insurance broker role treats 10 of its required skills as things an insurance collector already does. You would walk in with these on day one.
- actuarial science
- analyse insurance needs
- apply technical communication skills
- claims procedures
- create insurance policies
- handle financial transactions
What stands in the way is 8 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 16 skills that carry over, these are the ones fewest other occupations ask for. An insurance broker role needs them, and most people applying for one will not have them already. This is the part of an insurance collector background worth leading with.
- already held create cooperation modalities communication, collaboration and creativity
- already held claims procedures business, administration and law
- already held create insurance policies communication, collaboration and creativity
- already held analyse insurance needs communication, collaboration and creativity
- already held insurance market business, administration and law
- already held analyse insurance risk information skills
All 16 carried skills, including the 10 the insurance broker role treats as required.
Table 3 · What you may need to learn
The 30 missing skills fall into 5 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 inform on insurance products required
- still to learn prospect new customers required
- still to learn sell insurance required
- still to learn advise on financial matters required
- still to learn protect client interests required
- optional, not held maintain relationship with customers optional
- optional, not held promote financial products optional
- optional, not held build business relationships optional
- optional, not held deliver visual presentation of data optional
- optional, not held manage claims process optional
- optional, not held manage contract disputes optional
- still to learn compare insurance products required
- still to learn calculate insurance rate required
- optional, not held analyse claim files optional
- optional, not held initiate claim file optional
- optional, not held manage claim files optional
- optional, not held apply statistical analysis techniques optional
- optional, not held file claims with insurance companies optional
- optional, not held monitor legislation developments optional
- optional, not held provide cost benefit analysis reports optional
- still to learn sales promotion techniques required
- optional, not held customer service optional
- optional, not held contract law optional
- optional, not held financial products optional
- optional, not held modern portfolio theory optional
- optional, not held social security law optional
- optional, not held tax legislation optional
- optional, not held decide on insurance applications optional
- optional, not held organise a damage assessment optional
- optional, not held use data processing techniques optional
Table 4 · Where to start
The 3 entries an insurance broker role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 compare insurance products practise this
- 02 inform on insurance products practise this
- 03 calculate insurance rate 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 16 skills that carry over
- already held actuarial science knowledge
- already held analyse insurance needs skill
- already held apply technical communication skills skill
- already held claims procedures knowledge
- already held create insurance policies skill
- already held handle financial transactions skill
- already held insurance law knowledge
- already held insurance market knowledge
- already held principles of insurance knowledge
- already held types of insurance knowledge
- already held analyse insurance risk skill
- already held create cooperation modalities skill
- already held develop investment portfolio skill
- already held identify clients' needs skill
- already held maintain records of financial transactions skill
- already held manage contracts skill
22 supplementary skills, helpful but not required
- optional, not held analyse claim files optional
- optional, not held customer service optional
- optional, not held decide on insurance applications optional
- optional, not held initiate claim file optional
- optional, not held maintain relationship with customers optional
- optional, not held manage claim files optional
- optional, not held promote financial products optional
- optional, not held apply statistical analysis techniques optional
- optional, not held build business relationships optional
- optional, not held contract law optional
- optional, not held deliver visual presentation of data optional
- optional, not held file claims with insurance companies optional
- optional, not held financial products optional
- optional, not held manage claims process optional
- optional, not held manage contract disputes optional
- optional, not held modern portfolio theory optional
- optional, not held monitor legislation developments optional
- optional, not held organise a damage assessment optional
- optional, not held provide cost benefit analysis reports optional
- optional, not held social security law optional
- optional, not held tax legislation optional
- optional, not held use data processing techniques optional
11 held skills the insurance broker role does not ask for
- not needed by the target role analyse financial risk skill
- not needed by the target role credit card payments knowledge
- not needed by the target role debt collection techniques knowledge
- not needed by the target role debt systems knowledge
- not needed by the target role handle financial disputes skill
- not needed by the target role maintain client debt records skill
- not needed by the target role obtain financial information skill
- not needed by the target role perform debt investigation skill
- not needed by the target role provide support in financial calculation skill
- not needed by the target role review insurance process skill
- not needed by the target role review investment portfolios skill
7 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 sales promotion techniques required
- optional, not held customer service optional
- optional, not held contract law optional
- optional, not held financial products optional
- optional, not held modern portfolio theory optional
- optional, not held social security law optional
- optional, not held tax legislation optional
Common questions about this move
Can an insurance collector become an insurance broker?
Yes, and it is a substantial move. An insurance collector already covers 44% of what an insurance broker is expected to do: 16 skills carry over, 10 of which the insurance broker role treats as required.
What skills does an insurance collector need to become an insurance broker?
8 required skills are missing, plus 22 optional ones. They fall into 5 areas of the ESCO skill hierarchy, led by communication, collaboration and creativity. The single most important is compare insurance products.
How hard is the move from insurance collector to insurance broker?
Its learning distance is 61.8 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.