Required Courses

To become an insurance broker in Canada, you first need a general insurance ‘license’, or “Level 1”. 

To get a license, you will need to pass an exam testing your knowledge and understanding of General Insurance.  This is step numero uno of becoming an insurance broker.

To best prepare you to write this exam, the Canadian Insurance Scholarship Program is offering recipients online video training to help them write this exam and become an insurance professional. This course is generally referred to as the “Fundamentals of Insurance” or “Level 1 Licensing”, depending on which province you are from.

The video course is presented by a guru who knows his stuff.  He covers everything you need to know for the exam, so if you understand all the concepts in the video, you should do great on the exam.  The online course also has practice exams and a final exam to help you prepare yourself.

Over 80% of students who use this video course to prepare for the exam are successful.

Once you pass this exam and are working in an insurance office, you will be qualified to work in any of several positions: handling auto, home and other personal lines transactions, or as a mobile road agent (visiting car dealerships to insure newly purchased vehicles). Level 1 brokers operate under the supervision of a Level 2 or 3 broker.

WANT TO KEEP MOVING ON UP?

For other positions in insurance, such as a supervisor in personal lines or a representative in Commercial lines, you will require a Level 2 license.  This can be attained by completing two further exams, which you can prepare for with the ilscorp.com online video courses.  A Level 2 license allows you to write policies outside the office without a senior broker supervising you.  A Level 2 licenses may also give you the opportunity to supervise Level 1 brokers in some offices.

A Level 3 license allows you to manage a brokerage. It is mostly concerned with how insurance fits within the general economy, and deals with more managerial issues.

By successfully completing all four CAIB exams, and provided you are a member of your provincial insurance brokers' association, you will qualify for the national designation. Designated brokers are typically sought after by prospective employers.

Other designation programs are also available for completion, such as the Canadian Professional Insurance Broker program (CPIB) and the Canadian Certified Insurance Broker program (CCIB).

Regardless of what level you are at, insurance brokers need continuing education each year.  This means you will have to take a few courses or attend seminars/training and keep up-to-date about the industry and products. Your clients will be constantly amazed at how clever you are!  All your continuing education training can be done online at www.ilscorp.com – we make it easy for every broker as all our courses and quizzes are online.

Think big.