Insurance Agent Career and Immigration options for Australia

Profile Title: Insurance Agent Career and Immigration options for Australia

Alternative Title:Not Defined

ANZSCO Code: 611211 | Unit Code: 6112

Skill Level: Level 3 | Work Experience: 1 Years

Assessing Bodies: Vocational Education and Training Assessment Services (VETASSESS)

Skill Occupation List (SOL): STSOL

Specialization: Insurance Underwriter Life Assurance Representative 616

Profile Description: Represents insurance companies in selling insurance to clients. Registration or licensing is required

Job Duties:

• interviewing clients to identify their insurance needs
• explaining to clients details of insurance and conditions, risk coverage, premiums and benefits
• assisting clients to determine the type and level of coverage required
• calculating premiums and establishing method of payment
• reviewing clients circumstances to ensure that the level and coverage of insurance is still appropriate
• settling and monitoring insurance claims to ensure that both client and insurer are satisfied with the outcome
• recording information about clients and their policies
• identifying and drawing up lists of potential clients from a variety of sources and contacting them to
• arrange interviews
• keeping up-to-date with changes in the insurance industry and informing clients of new developments

Skill Level Description: Most occupations in this unit group have a level of skill commensurate with the qualifications and experience outlined below. In Australia: AQF Certificate III including at least two years of on-the-job training, or AQF Certificate IV (ANZSCO Skill Level 3) In New Zealand: NZ Register Level 4 qualification (ANZSCO Skill Level 3) 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 is required.

Available Visa Options (As on February 2024):

• 190 - Skilled Nominated (subclass 190)
• 407 - Training visa (subclass 407)
• 489 - Skilled Regional (Provisional) visa (subclass 489) - State or Territory nominated
• 482 - Temporary Skill Shortage visa (subclass 482) - Short Term Stream
• 187 - Regional Sponsor Migration Scheme (subclass 187)
• 494 - Skilled Employer Sponsored Regional (provisional) (subclass 494) - Employer sponsored stream
• 491 - Skilled Work Regional (provisional) visa (subclass 491) State or Territory nominated

Registration or Licensing: required

Industries: Insurance Agents are mainly employed in: Financial and Insurance Services; Other Services; and Professional, Scientific and Technical Services

Education Profile: The most common level of educational attainment for Insurance Agents is Year 12 (35.2 per cent).

Job Opening: Over the five years to November 2019, the number of job openings for Insurance Agents is expected to be below average (between 5,001 and 10,000). Job openings count both employment growth and turnover (defined as workers leaving their occupation for other employment or leaving the workforce).

Age Group: The main age group is 25-34 years (44.3 per cent) and the median age is 36 years (compared to 40 years for all occupations).

Gender: The female share of Insurance Agents is 46.4 per cent and 82.9 per cent of Insurance Agents work full time. Average weekly hours for full time workers are 35.5 (compared to 40.2 for all occupations).

Earning: In August 2014 (latest available data) weekly earnings full-time before tax (and not including employer superannuation) were $1,073 (compared to earnings for all occupations of $1,200).

Employment: Employment for this occupation fell slightly in the past five years, remained relatively steady in the long-term (ten years). Looking forward, employment for Insurance Agents to November 2020 is expected to grow moderately.