Can you explain what the role of a broker is in relation to insurance
The key role of the insurance broker is to act in the best interests of the client by understanding the client's business then seeking the best and most relevant insurance products.
Insurance companies sell their insurance products in the insurance market to insurance brokers. Insurance companies' objective is to write risks within their capacity and at a sufficient premium to maintain their profit margin. Their success is driven through negotiations with insurance brokers. The success of insurance brokers is primarily based on their relationship with their client to ensure the client is satisfied with the insurance program.
Insurance brokers also act on behalf of clients when handling claims. Again, the insurance broker will act in the best interests of the client to understand the circumstances of the claim, the relevant insurance policy wording and argue the case in favor of the client where applicable.
How did you get started in the insurance industry?
Insurance is practically in my DNA! With both parents from the insurance industry, you can say I was destined to land here!
The road to becoming an insurance broker really started when I was working as an OH&S Consultant at an international insurance broking company. It was in this role where I found my passion for client service and winning new business. As I intended to build greater trust with my clients through establishing long term relationships, I considered moving into a corporate general insurance broking career.
While working as an OH&S Consultant, I commenced a Tier 1 Insurance Broking course with ANZIIF and then went onto complete a Diploma in Insurance Broking in 2016 after joining my current employer. The Diploma together with my previous education and skills in OH&S consulting enable me to provide a holistic approach to client service.