222113 Insurance Broker

ANZSCO Occupation Code: 
222113
ANZSCO Occupation Name: 
Insurance Broker
Skill Assessing Authority: 
Medium and Long-term Strategic Skills List: 
No
Short-term Skilled Occupation List: 
Yes
Regional Sponsored Migration Scheme: 
Yes
LMT Protected Occupation: 
No
ANZSCO Occupation Description: 

222113 INSURANCE BROKER

Operates as an independent agent to sell life, fire, accident, industrial or other forms of insurance for a range of insurance companies. Registration or licensing may be required.
Skill Level: 2

ANZSCO Skill Level: 
2

2221 Financial Brokers

ANZSCO Unit Group Code: 
2221
ANZSCO Unit Group Name: 
Financial Brokers
ANZSCO Unit Group Description: 

2221 FINANCIAL BROKERS

FINANCIAL BROKERS operate as independent agents to facilitate the trading of commodities and arrange insurance and loans of money on behalf of clients.
Indicative Skill Level:
Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below.
In Australia:
AQF Associate Degree, Advanced Diploma or Diploma (ANZSCO Skill Level 2)

In New Zealand:
NZ Register Diploma (ANZSCO Skill Level 2)

At least three years of relevant experience may substitute for the formal qualifications listed above. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification.
Registration or licensing may be required.
Tasks Include:

monitoring commodity prices, trends and other factors affecting the supply and demand for commodities
negotiating the purchase and sale of commodities such as grains, wool, minerals and metals
determining the specific financial and insurance requirements of clients, and researching and reviewing available finance and insurance products for suitability to meet clients' requirements
analysing clients' financial status, discussing financial options and developing financial strategies
recommending loan combinations that meet clients' needs
interviewing prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and to make recommendations on the amount and type of cover
arranging insurance, home loan mortgages and other types of finance for clients through banks, lenders, financiers and insurance companies
preparing documents which set out the conditions of finance, repayments and loan periods
identifying and advising on significant risk changes to clients' insurance
broking complex and commercial leases, equipment finance, commercial finance, project finance and finance for property developers

Avg. weekly earnings - males (May 2012): 
1 762.40
Avg. weekly earnings - females (May 2012): 
1 385.60
Avg. weekly earnings - persons (May 2012): 
1 590.20