What are the disadvantages of training as an insurance intermediary?

Training as an insurance intermediary makes you a specialist in insurance and pension matters. VBV insurance brokers advise and support private and corporate customers, offer customers insurance, pension and financial products and take them out. They provide transparent information about the key features of the products as well as premiums and fees.

The main disadvantages of insurance broker training are:

  1. The insurance broker training qualification is not a federally recognized qualification. Certification is subject to the supervision of the VBV (Vocational Training Association of the Insurance Industry) and is carried out on behalf of the Swiss Financial Market Supervisory Authority FINMA. The "Insurance Broker VBV" qualification entitles the holder to be entered in the Cicero register and the FINMA register.
  2. At certificate level, the course content and admission requirements are generally not regulated and can be determined autonomously by the schools. The VBV seal of approval guarantees quality and recognition.
  3. In addition to basic financial knowledge, a job in financial brokerage also requires mathematical skills, economic thinking, reliability and memory. Not everyone has all of these skills and not all of them can be acquired through insurance broker training.
  4. The training costs of around CHF 12,000 for the training courses are not covered by the federal government unless the Federal Professional Examination is also completed.
  5. After the insurance broker training, the learning is not over: it is only the first step on the way to becoming a financial planner with a Federal Diploma of Higher Education. If you want to work as a qualified financial planner, you should still take the Federal Professional Examination.

 

Graduates work, for example, in retail and affluent customer advisory services at banks, in the sales force of life insurance companies or as advisors at independent financial institutions.

Provider of insurance broker training