Insurance agents and brokers

NOC

63100

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

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Full NOC Description

Insurance agents and brokers sell life, automobile, property, health and other types of insurance to individuals, businesses and public institutions. Insurance agents are employed by individual insurance companies or are independent representatives of specific insurance companies. Insurance brokers are employed by brokerage firms, or may work in partnerships or hold sole proprietorship. Supervisors of insurance agents are included in this unit group.

Main Duties

This group performs some or all of the following duties:

Sell automobile, fire, health, life, property, marine, aircraft and other types of insurance to clients

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

Ensure appropriate forms, medical examinations and other policy requirements are completed

Monitor insurance claims and respond to clients' enquiries

Identify and solicit potential clientele.

Also Known As

insurance agent
insurance broker
insurance sales representative
insurance sales supervisor

Requirements

Employment Requirements

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.

Provincial Regulation

Provincially Regulated: Yes

Regulation Body

Financial and Consumer Services Commission (FCNB)

Employment by Sex

The following graph shows the percentage of men and women working in this occupation in New Brunswick.

Data legend

62.3%

Female

37.8%

Male

Employment by age

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by age group.

Data legend

5.0%

15-24

23.6%

25-34

27.6%

35-44

23.1%

45-54

15.8%

55-64

5.0%

65+

Employment by highest level of education

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by highest level of education achieved.

Data legend

1.5%

No Certificate, Diploma or Degree

28.0%

High School, Diploma or Equivalent

5.0%

Apprenticeship or Trades Certificate or Diploma

41.7%

College or University Below Bachelor Level

23.8%

University - Bachelor Level or Above

Employment by Industry

The following graph shows the industry groups in which the largest shares of persons working in this occupation in New Brunswick are employed. Small percentages for all top three industry groups may suggest employment for this occupation is widely distributed amongst many industry groups.

Data legend

98.0%

Finance and insurance

N/A

2.0%

All Other Industries

Employment by Economic Regions

The following graph shows the breakdown of all persons employed in this occupation in New Brunswick by which economic region they reside in.

Data legend

8.50%

Northeast

36.20%

Southeast

33.20%

Southwest

13.20%

Central

9.00%

Northwest

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Annual Average Salary by Economic Regions

The following graph shows the average salary of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Data legend

$61,000

Northeast

$60,000

Southeast

$59,200

Southwest

$66,500

Central

$46,000

Northwest

Economic Regions

Hourly Median Wages by Economic Regions

The following represents the median hourly wage of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Salary

The following shows the average salary of everyone who worked full-time and year-round in this occupation across each of the Atlantic Provinces and nationally.

Employment Outlook

The following represents the number of job openings that are expected to occur in this occupation over the next three and ten years respectively, broken down by openings expected to result from growth (“new jobs”) and openings expected to result from attrition (death and retirements).

Occupational Profiles