Starting your career in insurance sales can be both rewarding and challenging. This is especially true after you’ve secured your licence and just become a full-fledged insurance agent or broker. For those new to the industry, understanding how to get started in selling insurance is the crucial first step in building a successful career or business.
In this guide, Insurance Business will walk you through the essentials of how to sell insurance effectively. We’ll cover the essential skills and provide practical tips on how to sell a policy that meets your client’s needs. This article can help you navigate the Australian insurance industry with confidence.
To start your career as an insurance sales professional, it is critical that you first obtain the necessary requirements for education and licensing.
The main advantage of building a career selling insurance here is that you don’t need formal education beyond finishing your senior secondary schooling.
In most cases, this educational attainment will suffice, although there are advantages to obtaining a university degree. While optional, a university degree, can equip you with a lot of foundational skills and knowledge for selling insurance. Courses like accounting, business, finance, communications, marketing and similar disciplines are especially helpful.
To sell insurance legally, you must adhere to strict licensing guidelines. Under the Insurance Act of 1973, general insurers are regulated by the Australian Prudential Regulation Authority (APRA) and must complete the APRA licensing process. After this, you must lodge your application and wait for approval.
However, individual agents and brokers are regulated by the Australian Securities and Investments Commission (ASIC) and must be authorised under an Australian Financial Services (AFS) licence, not directly through APRA. Aspiring insurance brokers will also need to earn the Certificate III in Insurance Broking from an accredited training provider.
ASIC determines which of these providers are accredited and authorized to issue the certification. Fulfil these requirements, and you become a licenced insurance broker. For a more detailed look on how to become an insurance broker, read our guide.
Here’s a step-by-step guide to selling insurance Down Under:
To sell insurance in Australia legally, you must have either an AFS licence or be appointed as an authorised representative of an AFS licensee. The AFS licence ensures that the necessary compliance, disclosure, and ethical standards are met by those who want to sell insurance.
You should then familiarise yourself with the different types of insurance products available in the market. This includes life insurance, health insurance, car insurance, and home insurance. Research your target market thoroughly to determine which products are most suitable. Learn about the specific preferences and needs of your potential clients.
Get familiar with your legal and regulatory obligations, including requirements for disclosure, privacy, and conduct under the Corporations Act and ASIC regulations. Adhering to these standards is essential to protecting your clients and maintaining your professional reputation.
To get good at selling insurance and build a good reputation among clients, it’s important to engage in continuing professional development (CPD). You can accomplish this by participating in ongoing training, workshops, and mentorship programs to enhance your product knowledge and sales skills.
CPD helps you stay up to date with industry changes and best practices. It can also improve your ability to effectively sell insurance.
Successful insurance agents and brokers build long-term relationships with clients by:
Being good at selling insurance means prioritising your clients’ interests and offering tailored solutions that genuinely meet their needs.
By following these steps, you should become well-positioned to start selling insurance in Australia and remain compliant with regulatory requirements. This can also help you establish a strong foundation for a successful insurance career.
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As mentioned, when selling insurance Down Under, you need to have an AFS licence issued by ASIC or be appointed as a representative of an AFS licensee.
This is the only licence that permits individuals and businesses to legally provide financial product advice, deal in insurance products, and arrange insurance contracts for clients in Australia.
When you have an AFS licence or are appointed as an authorised representative of an AFS licensee, you can:
provide financial product advice about insurance products to clients
arrange and sell insurance products on behalf of insurance companies
assist clients in choosing suitable insurance products based on their needs and circumstances
provide ongoing services and support to policyholders; this includes renewals and assistance in making claims
On the other hand, it’s important to know what you cannot do with your AFS licence, including:
act as an insurer and underwrite or issue insurance policies under your name – this is reserved for insurance companies regulated by APRA
provide advice or services that are beyond the scope of your licence authorisations; for instance, if your licence only covers general insurance, you cannot advise clients on home insurance
engage in misleading, deceptive, or unethical conduct; all activities must comply with ASIC’s conduct and disclosure requirements
ignore ongoing compliance obligations; you must meet all ongoing training, reporting, and recordkeeping requirements as required by ASIC
Understanding your AFS licence, its allowances and limitations, is critical to ensuring you remain compliant, avoid penalties, and build trust with your clients. Always check the specific authorisations and conditions attached to your licence to know exactly what you can and cannot do as an insurance professional.
As a newly licensed insurance sales professional, choosing the right insurance products to sell is a critical decision that can shape your success and reputation in the industry. Here are the key steps to consider:
Review your AFS licence or authorisation from a licensee to confirm which types of insurance products you are legally allowed to sell. These can include life insurance, general insurance, and health insurance. You must only recommend and arrange products that are within your authorised scope.
Research your target market to identify which insurance products are most in-demand. Consider what are the most sought-after products and other factors, including:
demographics of your clients – this includes their age, family status, and lifestyle
common risks – risks that are most relevant in your region or client base; examples are home and contents, and business risks
emerging trends – are there new risks or products gaining popularity, like cyber insurance or income protection in your area?
If you’re an independent agent, it’s important to compare multiple insurers for their:
If you’re a captive agent, you will typically be limited to insurance products from their employer, so focus on understanding those products deeply.
To help you choose and evaluate insurance providers and their products, you can start with the top insurers in their category. For example, check out the top five life insurance companies or the top ten private health insurers in Australia.
It’s wise to choose products that you understand well and are confident in explaining to clients. Specialising in a niche product (like small business insurance or auto insurance) can help you build credibility and a loyal client base and translate to easier and greater volume of insurance sales.
Make it a point to only recommend products that are aligned with and genuinely meet your clients’ needs and coverage objectives. Avoid pushing products to them solely for your commissions or incentives, as ASIC closely monitors conflicts of interest and undesirable outcomes for consumers.
It’s advised to select products from insurers that offer robust training, marketing support, and ongoing education. These can help you stay updated on insurance products and provide better service to clients.
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The amount of money you can earn selling insurance in Australia varies widely and can depend on several factors. These factors include your employment arrangement (independent or captive), the types of insurance products you sell, sales volume, commission structure, and level of experience.
According to the Australian Bureau of Statistics and local industry sources, experienced insurance agents can earn upwards of $100,000 a year. Top-performing agents or brokers – especially those who operate their own brokerages – can easily earn more than $150,000 per year.
An insurance professional’s earnings are mostly driven by the type of insurance they sell, their client base, compliance with licensing guidelines, and the agent’s ability to build trust and deliver value to clients.
Average earnings of insurance brokers in major AU cities
Note that these numbers reflect the most recent data and provide a reliable benchmark for insurance broker earnings across major Australian cities. The figures presented include the base salary, along with average commissions and bonuses.
Top-performing brokers or those in senior positions can earn significantly more, especially in larger markets like Sydney and Melbourne. Insurance agents and brokers earning as much or more in these markets are not unheard of.
Entry-level brokers or agents may start below these ranges, while more experienced professionals with a strong client base can even exceed the upper ranges of these earnings.
Yes, but with caveats. Selling insurance in Australia can be a worthwhile career for individuals who are motivated, ethical, and skilled in sales and client relationship management. This career path offers strong earning potential, job stability, and professional growth. It’s not uncommon for agents to earn six figures.
On the other hand, this job demands strict compliance, resilience, and a commitment to putting the interests of clients first. If you value helping others protect their assets and financial well-being – and can take on the challenges of a highly regulated, sales-driven working environment, selling insurance can be very rewarding.
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