Where will our next Insurance Brokers come from

Every insurance brokerage that employs staff as Brokers need to consider where the next generation will come from. We should be out there promoting much more why being an Insurance Broker is a great career path!

A career in insurance is a risk worth taking and here are some reasons why.

Being in the “Risk” game is an interesting and fascinating area. It is a profession where you are constantly learning. Having the skills to understand and identify risks and then finding insurance solutions or other risk management solutions for them actually benefits peoples’ lives. Insurance companies save businesses from bankruptcies. They save economies and governments from collapsing following natural disasters.

Exaggeration? Speak to any qualified Insurance Broker. While Brokers represent their clients, they know the importance Insurance in our society has.

While many of us just “fell into insurance”, there is now a need to specifically educate the future Insurance Professional.  It has been a regular path where an Insurance Underwriter or even a claims officer chooses to move into a Broking role. More recently though, due to the lack of attractive offers to cross over, junior staff have come from simply a few months experience in a call centre.

When I started, it was in the mailroom. A situation unheard of now. The men were mailboys and the girls came from switchboard or reception.

These days there is an enormous range of opportunities for talented young people, particularly those that have a business degree. These range from highly specialised  roles to general business management to business development roles and customer-service orientated or financial management roles.  On-going career learning and development is the norm.

Ours is a Global Industry

Insurance is a global business. There are many companies operating in Australia that are also international. These days there are opportunities existing for overseas travel, secondment or even relocation.  You may prefer city or country or taking opportunities interstate.

We help society

Natural disasters are costing the world considerably. Not just economically but socially as well.  Insurance is about helping people within society and the world. A modern economy depends on a strong insurance industry, one that not only pays claims, but before they are needed, builds reserves used for short term and long term investment. It is not only offering protection, but also great potential.  It is a great career choice.

How to promote Insurance Broking as a career?

Young people use Social media.They grasp the technology quickly and there are online forums to promote occupations and careers. Facebook and Linkedin are great ways to find who is in the know and who wants to provide recruitment opportunities. They can also be used to promote why Insurance Broking is a great career.

Some consider hiring graduates from universities because they bring new perspectives and solid business skills and can be a good return on investment.  Many Universities seeks relationships with employers so they can recommend and place their students straight into roles once they have completed their education. It is a strong selling point of a university if they have a track record of not only educating, but helping students put that education into practice.

But will graduates work for you? They have been criticised  for lacking selling and negotiation skills, as well as the most important of skills, excellent customer service. Many expect large salaries now rather than using the patience of developing experience and knowledge gained on the job which then makes them worth paying more.

Another alternative is partnering with high schools, private or public, by promoting Insurance Broking to the students. There are now traineeships available. Mentoring and developing a young person, even with a combination of part time study with a well mapped out career path with the opportunity of succession is also a great investment.

Many Insurance Broking firms use the excuse that they do not want the expense of training up new staff only to see them go to other companies. But why do they do that? This is a whole other issue relating to how a business chooses to run itself and treat its staff. Briefly though, a well thought out process for retaining staff with on-going development, appropriate rewards for success in a happy and productive work environment goes a long way.

Besides, we all owe it to our profession to develop skilled talented staff for the future, even if they end up seeking opportunities elsewhere. Even these relationships can come in handy in other ways. It is like coaching a football team in a lesser league and seeing one of the star players move on to a National team or star Internationally. We should be glad we had a hand in their career. Sometimes they come back and play for you again.

So we should all start promoting the Insurance Broking profession, seeking new talent and adding more credibility to what many of us think is a fantastic and rewarding career. 

Latest News

Robert Cooper - one of 100 faces of small business

This week it was announced as part of Small Business Week,  that Robert has been named one of the 100 faces of small business for a State Government promotion on the great value that small businesses play in the State of Queensland.

You can see Robert's entry here:

It is the third accolade for CPR Insurance Services in a month and after seven and a half years in business is a real pep up for the company.

For Robert, it is the culmination of many years experience, becoming well qualified, experiencing the highs and lows of a career and always wanting to contribute to his community. Sometimes, these things just come together and you receive recognition for your efforts.

Robert says that there is no doubt that starting your own business is a huge challenge, but with the right research and planning, the right people around you and a good set of values that you apply to the vision of the company, you have a very good chance of making it all succeed.

Robert says he is lucky. He has a strong supportive Wife, Mandy, who is also part of the business, along with efficient and hard working staff such as Julia McLauchlan and Aidan Harmer who are building up their own skills in a learning environment. 

However, the most important and most supportive people for CPR Insurance Services are our clients who have stuck by us and supported us over the past seven years. Our focus remains on providing the best possible service we can and always acting in their best interests. To all our clients, we say thank you!

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CPR Insurance wins Brokerage of the year

CPR Insurance Services picked up the award for the Best Brokerage (1-5 staff) in Australia, last Friday Night (4th May 2018) at the Insurance Business Magazine Awards held at the Westin in Sydney.

Judging came from various parts of the industry. It is a great honour to be recognised for our hard work and particular Business values we follow. A full list of winners is listed here.

Success comes from having great staff, and we thank Aidan Harmer and Julia McLauchlan as important support staff for helping us win such an award.

CPR Insurance has been in operation for more than 7 years now and is only successful because of the wonderful support from our staff, insurers and most importantly, our fantastic clients who put their faith and trust into our company to be their Risk Advisers and Brokers. 

Thank you to all.

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