This question is a great way for employers to gauge your knowledge of the insurance industry. If you are interviewing with an established company, they may expect that you have some experience in the field. However, if you’re applying to a smaller firm, they may be looking for someone who can learn quickly and adapt to their unique processes. In either case, it’s important to answer honestly about your background and how you would approach learning new information or systems.
Example: “Yes, I am very familiar with the insurance industry. I have been an Insurance Broker for over 10 years and during this time I have gained a wealth of knowledge in all aspects of the business. I understand the different types of policies available, how to assess risk, and how to negotiate rates on behalf of my clients. I am also well-versed in the regulations that govern the industry, so I can ensure compliance at all times. Furthermore, I stay up-to-date on the latest trends and developments in the field by attending conferences and reading industry publications. My experience has enabled me to build strong relationships with both insurers and customers alike, which is essential for success as an Insurance Broker.”
