Insurance agents and brokers

About this job

Insurance agents and brokers:

sell life, automobile, property, health and other types of insurance to individuals, businesses and public institutions.

Insurance brokers:

work for brokerage firms, or may work in partnerships or hold sole proprietorship.

Insurance agents:

work for individual insurance companies or are independent representatives of specific insurance companies

Supervisors of insurance agents are included in this unit group.

Common job titles

agent, insurance - automobile / fire
agent, insurance - group / life
agent, insurance - real estate

district supervisor - insurance office
insurance agent supervisor

agent, insurance - automobile / fire
agent, insurance - group / life
agent, insurance - real estate
district supervisor - insurance office
insurance agent supervisor

Earnings

Annual provincial median salary

$44,924

Source: 2016 Job Bank Wage data

Note:Estimated median employment income based on 2016 Job Bank median hourly wage rate (median annual salary = hourly wage rate x 40 (hours per week) x 52.14 (weeks per year))

Provincial hourly rate

High
Median
Low

Source: 2016 Job Bank Wage Report

B.C. Labour Market Outlook (2017-2027)

Provincial outlook

Forecasted average employment growth rate

2017 - 2022
2022 - 2027

Source: B.C. Labour Market Outlook

Job openings

10 year expected job openings: 2,650

2017
2022
2027

Source: B.C. Labour Market Outlook

Composition of job openings

New jobs due to economic growth:
31.0%
820 openings

Replacement of retiring workers:
69.0%
1,830 openings

Source: B.C. Labour Market Outlook

Regional outlook

Cariboo

Employment in 2017:

420

Average annual employment growth:

0.8%

Expected number of job openings:

100

Kootenay

Employment in 2017:

410

Average annual employment growth:

0.7%

Expected number of job openings:

90

Mainland / Southwest

Employment in 2017:

5,890

Average annual employment growth:

1.2%

Expected number of job openings:

2,030

North Coast & Nechako

Employment in 2017:

210

Average annual employment growth:

0.2%

Expected number of job openings:

30

Northeast

Employment in 2017:

110

Average annual employment growth:

0.7%

Expected number of job openings:

20

Thompson-Okanagan

Employment in 2017:

1,260

Average annual employment growth:

-0.2%

Expected number of job openings:

150

Vancouver Island / Coast

Employment in 2017:

1,220

Average annual employment growth:

0.1%

Expected number of job openings:

220

Source: B.C. Labour Market Outlook

Duties

Insurance agents and brokers perform some or all of the following duties:

sell automobile, fire, health, life, property, marine, aircraft and other types of insurance
establish client insurance coverage, calculate premiums and establish method of payment
provide information concerning group and individual insurance packages, the range of risk coverage, benefits paid and other policy features
make sure appropriate forms, medical examinations and other policy requirements are completed
monitor insurance claims and respond to client inquiries
identify and solicit potential clientele

Work environment

Key aspects of the work in this occupation:

Work takes place in a conventional office setting.

Workforce and employment statistics

Workforce characteristics

9,100 workers are employed

60% of workers are working mostly full time

Source: 2011 National Household Survey

Employment by gender

Men

Women

Source: 2011 National Household Survey

Employment by age group

15 - 24 years

25 - 44 years

45 - 64 years

65+ years

Source: 2011 National Household Survey

Labour force by industry

Finance, Insurance and Real Estate:

98%

View more industry data

Source: 2011 National Household Survey

Note:¹Data represents Wholesale and Retail Trade and will be updated when the 2017 data is available from Statistics Canada.

Employment by region

% employment of this occupation

% employment of all occupations

Cariboo

Kootenay

Mainland / Southwest

North Coast & Nechako

Northeast

Thompson-Okanagan

Vancouver Island / Coast

Source: 2011 National Household Survey

Job requirements

Education, training & qualifications

Completion of secondary school is usually required.
On-the-job training and insurance industry courses and training programs are provided and are required for employment.
Licensure by the insurance governing body in the province or territory of employment is required.

As of July 1, 2017 when the Canadian Free Trade Agreement (CFTA) came into force, you will not need significant additional training, experience, testing or assessment if your qualifications or certificates are recognized by a Canadian regulatory authority. This applies whether you were trained in Canada or internationally. Learn about labour mobility at www.workersmobility.ca. For information about labour mobility and foreign qualifications recognition, contact the B.C. regulator for your occupation.

Skills

Social
Directive
Clerical Ability
Manual Dexterity

View skills definitions

Education programs in B.C.

The following program areas are related to this occupation:

Insurance

For more information about programs offered specifically for this career, visit EducationPlannerBC.

Related careers

Career paths and resources

Career paths

Completion of educational courses through the Canadian Association of Insurance and Financial Advisors allows for various levels of professional designations for insurance and financial advisors.

Progression to insurance management positions is possible through experience.

Completion of educational programs through the Insurance Institute of Canada or its provincial counterpart entitles agents to professional recognition as an Associate of the Insurance Institute of Canada (A.I.I.C.) or Fellow of the Insurance Institute of Canada (F.I.I.C.).

Additional resources

Insurance Brokers Association of BC (IBABC)
www.ibabc.org
Insurance Institute of British Columbia
www.insuranceinstitute.ca/en/institutes-and-chapters/british-columbia.aspx

Insurance agents and brokers (NOC 6231)

About this job

Earnings

Annual provincial median salary

Provincial hourly rate

B.C. Labour Market Outlook (2017-2027)

Provincial outlook

Forecasted average employment growth rate

Job openings

Composition of job openings

Regional outlook

Duties

Work environment

Workforce and employment statistics

Workforce characteristics

Employment by gender

Employment by age group

Labour force by industry

Employment by region

Job requirements

Education, training & qualifications

Skills

Education programs in B.C.

Related careers

Career paths and resources

Insurance Advisor - Trainee

Insurance Advisor - Trainee

Insurance Agent