What Makes A Good Insurance Broker

There are a number of traits that comprise a good insurance broker. And they can be broken down into categories: knowledge and people skills.

Without good people skills, the most knowledgeable of insurance professionals will fail to understand their clients’ needs when it comes to getting the right coverage for them. A good insurance broker has the ability to earn the trust of their client by listening to their needs and finding both the best product and price to suit those needs.

They are compassionate but tactful, knowing how to maintain a high standard of professionalism whilst equally being able to be empathetic and assuring. A good insurance broker or agent will be charismatic and friendly, but also persistent. Having to say no from time to time is unfortunately all part of the job. Saying no with the skill to stay in their client’s good graces while doing so is a gift not so easily learnt.

Good communication skills are an absolute must. A customer’s financial situations and business needs may change throughout the year, therefore the insurance broker will need to be available when adjustments to their policy need to be made. A broker’s role isn’t merely to sell the product, but to provide personal aftercare should their clients require it. And to do that, they need to gain understanding of different clients’ needs. Some insurance customers will know exactly what they want and that is to get quick quotes for the product they want so that they can make a speedy decision and purchase. Other clients need a little more personal assistance to ensure that they make the right decision, and won’t be left with insufficient cover. Brokers should be able to simplify insurance terms and concepts, with anecdotal examples, to avoid confusion and help clients to understand not only what they need but, more importantly, why. A good broker will recognise both types of customers and give each the level of service that is expected of them.

Knowledge is obviously essential. A good insurance broker needs to be able to answer every question fired at them, and for that they will need a wealth of technical knowledge regarding finances. To complete the circle, they will of course also need a thorough understanding of different insurance products and services to offer as part of the solution to the question.

Knowledge and people skills are two vital components that depend on each other. Knowledge without people skills results in the inability to share that knowledge with clients or even understand the client’s individual needs in order to help them to the fullest extent. People skills without knowledge, on the other hand, may leave a broker in good regard with a client, but it would also be a disservice to them.

No matter what type of insurance you are buying or selling, make sure you have a good broker-client relationship that is built on honesty, transparency, and respect.

Want a conversation about your insurance? Call us on 0800 1696137.

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