- Hands-on experience in the industry can be crucial in securing a job … as is flexibility. Get experience in different areas and be willing to travel....get into insurance
From There You Have To Get Experience. I Spent A Little Time
From there you have to get experience. I spent a little time on each class of insurance: fire, property, liability, and professional indemnity, which is covering the liability of a professional person - a solicitor or accountant - for negligence or omission.
I ended up specialising in that. The client may be an individual, or it may be a group policy for a professional association.
The work has its good and bad points - you meet an awful lot of people. It is a social business and very much to do with personalities - it is you getting on with the underwriter you are talking to, more than anything else. All sorts of people can do it, but it helps to be recognisable and here there is an advantage in being a woman, I suppose.
There is an intellectual enjoyment in putting together the best possible deal for the client, and you have the responsibility for yourself - it's up to you whether you go to a company, Lloyd's, or whatever. One of the drawbacks is that you have to go to see all the people you want to talk to, and in the engaged time of year you find you have to queue for two hours or so to see one person, which can be very frustrating. A bad day for a broker is when it's raining and cold, because you spend a lot of time trotting around in the streets. Jane works as a marine reinsurance broker for a broking group.
She went to a state school, and got 10 GCSEs and three A levels, all in science subjects. She says: Now, after four years, I'm actually doing some negotiating, either in Lloyd's itself or the company market. An ordinary renewal is quite straightforward because I have an old slip on which all the lines are taken, and I will have the information on the forthcoming year and a loss record, and it's a matter of agreeing if it is the right rate.