Interested in Joining?
The insurance industry is hiring students of ALL majors for ALL functional areas.
Are you interested in a career that is stable, rewarding, and limitless? Could you benefit from expanding your networking, increasing exposure to educational and professional development opportunities, building your resume, and improving your leadership skills? Then Gamma Iota Sigma is for you!
Interested in Joining?
The insurance industry is hiring students of ALL majors for ALL functional areas.
Are you interested in a career that is stable, rewarding, and limitless? Could you benefit from expanding your networking, increasing exposure to educational and professional development opportunities, building your resume, and improving your leadership skills? Then Gamma Iota Sigma is for you!
Advisory Council
The Advisory Council consist of Sustaining Partner Companies
The Advisory Council help leads the strategic direction of Gamma Iota Sigma to grow and sustain a robust and diverse student talent pipeline, ensuring the industry's vibrant future.
What They Do:
An insurance broker is a professional who acts as an intermediary between a consumer and an insurance company, helping the former find a policy that best suits their needs. Insurance brokers represent consumers, not insurance companies, and therefore they can't bind coverage on behalf of the insurer.
Why It's Important:
Brokers help you understand the risks and liabilities that you have, and they outline how to manage those through insurance. Insurance brokers liaise between clients and insurance companies, finding the client the best deal for insurance cover by helping you review several insurance options to choose the policies and premiums that best fit your needs and budget.
Typical Duties:
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Building and maintaining business relationships with clients
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Scheduling and attending meetings
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Discussing and assessing clients' current and future insurance needs
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Researching insurance policies and products
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Negotiating policy terms and costs with insurance providers
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Arranging insurance cover for clients with the insurance provider
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Collecting insurance premiums
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Keeping detailed computer records
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Preparing reports for insurance underwriters
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Advising clients on making claims on their policies
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Renewing or amending existing policies for clients
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Undertaking general administrative duties
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Marketing services
Important Skills:
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Confident negotiation skills
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Reliability and honesty
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Excellent time management
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Decision-making
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Analytical skills
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Accuracy and attention to detail
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Interpersonal skills
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Verbal and written communication skills
Salary Range
The median annual wage: $66,131
The lowest 10% ~ $37,000
The highest 10% ~ $125,000
Professional Designations:
CIC – Certified Insurance Counselor
CRM – Certified Risk Manager
CWCA – Certified WorkComp Advisor
AAI – Accredited Advisor in Insurance
CISR – Certified Insurance Service Representative
CWCS – Certified WorkComp Specialist
CPCU – Chartered Property Casualty Underwriter
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Career Facts:
Education and Professional Requirements:
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Entry-level: Bachelor’s degree, state licensing, training program
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Advancement: Bachelor’s degree, multiple years of work experience, industry certifications
Possible career path: Analyst > Junior Broker/Placement Specialist > Account Executive > Senior Broker/Broking Manager
Additional Resources:
References:
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CIAB: the Role of Insurance Intermediaries
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Insurance Institute of Canada Broker Profile
Videos:
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Meet a Broker
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CIAB 100th Anniversary Video
Webinars:
