Legal, finance and accounting

Insurance practitioner - Junior Broker

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Supporting the sale and renewal of insurance products.

Summary

This apprenticeship takes a core and options approach. All apprentices must complete the core. All apprentices must also select one of the specialist options out of a) Claims Handler/Loss Adjuster, b) Assistant Underwriter, c) Junior broker.

This occupation is found in the financial services sector in commercial organisations. Insurance is the transfer of risk to allow offsetting of financial loss and consequently insurance services are very in demand and wide ranging. Employers particularly include very large (even global) corporations but can also include far smaller enterprises and third party vendors. Insurance practitioners also work for brokers who act as intermediaries on behalf of clients.

Many insurers will typically specialise in retail insurance products and services such as car, life and health insurance. Clients may be individuals seeking cover for themselves, or the client may be an organisation seeking the insurance of their business assets.

The broad purpose of the occupation is to provide insurance coverage and recourse in the event of a loss, servicing the expectations of client's policies as they arise. Insurance practitioners provide an important role in the administration of applications and claims. They must understand the needs of clients in order to help provide peace of mind to businesses and individuals by protecting their interests in the event of loss. Most insurance practitioners work is office based.

In their daily work, an employee in this occupation interacts with internal and/or external stakeholders that includes but is not limited to clients, underwriters, senior management, claims, brokers and third party vendors. Individuals in this occupation normally work as part of a team and are typically supervised by an insurance professional. Employees liaise with other specialists and professions, including policy and legal teams. They will interact with these stakeholders identifying and investigating possible or apparent anomalies in documentation or other sources of evidence. Employees may also interact with third party agencies in order to support their work, such as law enforcement agencies.

An employee in this occupation will be responsible for providing a fair and impartial service for the client. Insurance can make an important difference to clients facing key life events following a loss, so the insurance practitioner must act in ways that show empathy and understanding to the client while ensuring they consistently work within the regulatory requirements of the industry and to the quality and target related expectations of their own organisation.

Insurance practitioners typically work in one of three distinct sub-occupations. Junior Insurance Brokers represent their client's needs to an insurance provider and look to support sales maximisation. Insurance Underwriting Assistants assess the risk of insuring something and will provide guidance to others in the team. Insurance Claims Handlers/Junior Loss Adjusters are the first point of contact on the customer journey managing the life cycle of a claim to conclusion.

Typical job titles include

Knowledge, skills and behaviours (KSBs)

• Knowledge
• Skills
• Behaviours