Insurance Broker (VIC)

Education and Training:

To become an insurance broker you usually have to complete a VET qualification in insurance broking. In addition, several years of experience with a qualified broker is usually required before becoming an independent broker. Entry to these courses usually requires Year 12 and, as a minimum, employment with an insurance brokerage. As subjects and prerequisites can vary between institutions, you should contact your chosen institution for further information. You may be able to study through distance education.

You can also become an insurance broker through a traineeship in Insurance Broking or Financial Services. Entry requirements may vary but employers usually require Year 10. Ask your career adviser about the possibility of starting some of this training in school.

Additional Information:

The insurance industry is regulated by the Australian Securities and Investments Commission (ASIC). Depending on the services that an insurance broker provides, they may need to be registered with the Commission or required to hold an Australian Financial Services (AFS) licence. You can only provide financial advice to clients if you hold the appropriate qualifications. Details can be found at the ASIC website (www.asic.gov.au).

Related Courses:

While the following courses are related to this occupation, they may not necessarily lead directly to employment, nor provide the most direct pathway to the occupation. Courses which provide preliminary or informal training, as well as those which provide additional job skills following initial qualifications may also be listed.

*Course is offered by more than one institution. Click link for details.

Employment Opportunities:

Most insurance brokers sell policies for several companies and may work in city or country areas.

Insurance brokers usually work on a commission basis, with the level of business dependent upon the level of general economic activity. However, earnings and continued employment depend to a considerable degree on ability and experience.