The basic principal of the brokerage firm where I have my internship is connecting the customer to the insurance plan. People call into the brokerage firm and request quotes to be compared to each other and ask the broker for advice on which one, in their professional opinion, is the best one for them to buy. The customer can use a broker for every type of insurance need they might see, from car to home to a pet, and it is the broker’s job to organize all their policies and make sure the proper paperwork is sent to the customer when it is time to renew or reevaluate the policies.
The product is just an insurance policy, so the product is pretty much done over the phone and on the computer. This takes good communication and organizational skills from the broker to make sure the message they are trying to relay to the customer comes off clearly and concisely as to not make confusion about what type of policy they are getting. And then the organization is key in making sure the broker knows when renewal dates are and when to send out the paperwork or when to ask for payments or get a new policy made up.
The only raw material really used in the office is lots and lots of paper. There are at least 40 packets of mail sent out every day containing information on a customer’s insurance plans.