5 real-life Insurance Broker interview questions
An Insurance Broker plays a crucial role in helping clients choose the right insurance policies by understanding their needs, assessing available options, and ensuring they get the best possible coverage.
These Insurance Broker interview questions are directly sourced from real hiring managers and they are ready to use.
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5 good Insurance Broker interview questions
- How much did you sell at your previous firm and how much do you project to sell this year?
- Do you specialize in a line of business? If so, which one(s)?
- Do you currently have a book of business in play?
- How much have you produced in terms of sales?
- Can you give us a market insight?
Here are 5 essential interview questions with sample answers to help you identify the best candidates for this role.
1. How much did you sell at your previous firm and how much do you project to sell this year?
This question assesses past performance and future goals.
Sample answer
“Last year, I sold policies worth $1 million at my previous firm. Given the opportunities here, I project to sell around $1.5 million this year.”
2. Do you specialize in a line of business? If so, which one(s)?
Specializations can cater to specific client needs.
Sample answer
“Yes, I specialize in health and life insurance. I’ve found that focusing on these lines allows me to provide more tailored solutions to clients.”
3. Do you currently have a book of business in play?
This gauges the broker’s current client base.
Sample answer
“Yes, I have an active book of business with a mix of long-term clients and newer ones I’ve acquired over the past year.”
4. How much have you produced in terms of sales?
Understanding past sales gives insight into the broker’s performance.
Sample answer
“Over the past five years, I’ve produced sales totaling around $5 million, with consistent growth year over year.”
5. Can you give us a market insight?
This tests the broker’s knowledge of current market trends.
Sample answer
“Certainly. With the recent health crisis, there’s been a surge in demand for health insurance policies, especially those covering critical illnesses. It’s essential to stay updated with such trends to cater to client needs.”
What does a good Insurance Broker candidate look like?
An ideal Insurance Broker candidate should have a strong track record of sales, a deep understanding of insurance products, and the ability to build and maintain client relationships. They should be proactive, knowledgeable about market trends, and possess excellent communication skills to explain complex policies in simple terms.
Red flags
Be wary of candidates who lack knowledge about current market trends or seem unfamiliar with basic insurance products. A lack of enthusiasm for building client relationships or an overemphasis on hard selling without understanding client needs can also be concerning.