Want to become an Insurance Broker? Read this comprehensive guide.
In light of the recent pandemic, we are seeing more and more people look at insurance as a career choice. At the intersection of finance and consumer staple, insurance brokering as a career offers constant learning, high pay, advancement opportunities, and stability. But the question top of everyone’s mind is: how do I become an insurance broker in Alberta?
There isn’t a comprehensive guide out there like this on the internet so we decided to write one for the benefit of our students.
WHAT IS AN INSURANCE BROKER?
An insurance broker is someone who advises individuals, families and businesses on how to manage risk with the right portfolio of insurance products. Essentially your job is to learn about their situation and come up with the appropriate policies to help them manage their risk.
Within this general category, there are a lot of different insurance jobs available to suit all types of people, skills and preferences. For example, if you enjoy customer service, you can work as a customer service representative (CSR). If you like sales and want to earn salary and/or commissions, you can generate new sales as a producer. Or if you prefer to work in the back office, you can do that as well supporting your fellow colleagues in their roles.
SECURITY & FLEXIBILITY
Another question we get a lot from students is whether they can work from home, work part time, work for myself, or make their own hours. This answer to all of these questions is YES. There are a lot of different work arrangements available – just go a quick search of different insurance job boards and you’ll find a lot of part time, full time, salary, commission, work from home, etc. jobs available. Once you have a few years of experience, you can also open up your own brokerage!
Another major draw is how easy it is to find a meaningful job. Insurance is such an important part of our financial lives that everyone has it. No matter where you go – from the big city to a small town – you will find an insurance business there somewhere.
BECOMING AN INSURANCE BROKER IN ALBERTA
To become an insurance broker in Alberta, you need to pass the Alberta Insurance Council (AIC) General Insurance Level 1 licensing exam. But in order to register for the exam, you need to take a course with an AIC approved GLQP education provider like PNC Learning. Here are the steps:
STEP 1) STUDY THE ALBERTA LEVEL 1 COURSE
PNC Learning is an approved GLQP education provider with the Alberta Insurance Council (AIC) and offers a variety of study options from an online self-study Alberta Level 1 course to week long in-person or virtual classroom training.
Once you have completed our course, we will issue you a certification that lets you register for the provincial GIL 1 exam with the AIC.
STEP 2) WRITE THE AIC LEVEL 1 EXAM
After you have completed our course, you should be ready to write the provincial licensing exam. When you complete our course, you will receive further instructions via email on how to register for the exam. Additional Alberta exam registration information is also available inside our course.
STEP 3) GET A JOB
Once you pass, you will be ready to work at any insurance brokerage in Alberta. If you move to or want to work in another province, you can simply apply for a license transfer.
Contact us to learn more about our employment partners and the employment services available to our graduates.