How to become an insurance sales agent or broker

Official title: Insurance sales agent/broker

Also called: Financial adviser (insurance), Financial planner, Independent financial planner (insurance), Insurance agent, Insurance broker, Insurance consultant, Insurance representative, Insurance sales agent, Insurance sales representative, Insurance salesman, Insurance salesperson, Insurance saleswoman

Insurance sales agent/broker advises on and sells life, accident, automobile, liability, endowment, fire, marine and other types of insurance to new and established clients. He/she obtains information about customers’ circumstances necessary to determine the appropriate type of insurance and conditions, negotiating with customers to determine the type and degree of risk for which insurance is required.

Main tasks

• Obtaining information about customers’ circumstances necessary to determine appropriate type of insurance and conditions
• Negotiating with customers to determine type and degree of risk for which insurance is required
• Explaining details of insurance and conditions, risk coverage premiums and benefits to customers
• Assisting clients to determine the type and level of coverage required, calculating premiums and establishing method of payment

Ways in

• Licence or registration: People who give financial advice or sell insurance and investment products must meet the required exam and competency standards and be notified to MAS by the firm that appoints them, which lists them on the public register of representatives. Law: Financial Advisers Act 2001. Regulator: Monetary Authority of Singapore (MAS) (https://www.mas.gov.sg).

Pay · Outlook · AI and this job

• Median pay: $69,360 a year. The middle half earn $52,200 to $82,644 a year.
• Generative AI could change many tasks in this job, which usually reshapes the work more than it replaces it, by the ILO's global estimate.

Related jobs

• Business development executive
• After sales adviser/Client account service executive
• Marketing and sales executive (food and beverage services)
• Online sales channel executive
• Merchandising/Category executive
• Buyer

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Questions people ask

How much does an insurance sales agent or broker earn in Singapore?

Median full-time pay is $69,360 a year (Ministry of Manpower (via data.gov.sg)). The middle half earn $52,200 to $82,644.

Will AI change the work of an insurance sales agent or broker?

Generative AI could change many tasks in this job, which usually reshapes the work more than it replaces it, by the ILO's global estimate.

Sources

• Ministry of Manpower (via data.gov.sg): Resident Occupational Wages (Occupational Wage Survey) (June 2024 (data.gov.sg update 2026-04-01)), Singapore Open Data Licence v1.0, retrieved 4 October 2026
• International Labour Organization, Generative AI and Jobs: A Refined Global Index of Occupational Exposure (ILO Working Paper 140, Gmyrek et al.) (ILO Working Paper 140, May 2025, Annex Table A1), CC BY 4.0, retrieved 4 October 2026

Updated 4 October 2026