That’s when one needs an insurance broker.
Thabo Moroosi (40) is a broker at his own brokerage in Duduza, and specialises in short term insurance.
His journey in the insurance industry began when he studied B.Com Economics at the University of KwaZulu Natal.
After completing his studies, Moroosi worked for Bankfin Finance (now Absa Finance), The Line of Africa Insurance and FNB Insurance Brokers.
Working for different companies and learning more about insurance probed him to want his own firm.
He realised there was a need for the business, especially in the township where there is a lot of emerging black professionals and entrepreneurs who need a brand they can identify with.
For him to practice independently, Moroosi wrote a regulatory examination, and was then licensed to practice as a registered service provider.
“To be an insurance broker, you need someone who is a fast thinker and a problem solver,” says Moroosi.
Students who want to be brokers in future should study Risk Management and other insurance-related courses at university or college.
He highlights that mentorship is crucial in this business in order to understand the ins and outs.
“The insurance business is broad and it is important to get a clear understanding of where your strengths lie in order for you to be placed in the suitable department,” explains Moroosi.
“There is a gap for black brokers in the business that needs to filled.”
He encourages students and other young people to explore the insurance industry.
On a daily basis, he deals with quotes, claims and new business.
He emphasises that as a broker, one needs to always be on the look-out for new business opportunities and clients.
Working with claims is his favourite task, as solving a client’s problem gives him joy.
Most of his clients are referrals from existing clients.
