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What is an insurance broker?

An insurance broker is an independent expert, and licensed professional, who acts on your behalf - not the insurer’s. They assess your risks, research the market across multiple insurers, and help you find cover that fits your situation.

They manage your insurance from the initial quote through to renewals and claims support. For some of our specialist products, working with an accredited broker is how you get access to cover that isn’t available anywhere else.

Why use an insurance broker

Save time

Working with a broker can cut time across the research, paperwork, and renewal process. On average, businesses save around 20 hours across the insurance journey when they use a broker — time they can put back into running their business.1 It’s an excellent time saver for busy individuals too.

Get the right cover

Research shows that 40% of businesses were underinsured before they engaged a broker.2 A broker reviews your specific situation and helps make sure your sums insured reflect your real risks — not just last year's values.

Claims support when it matters

When you need to make a claim, your broker advocates on your behalf. 95% of businesses regard their broker as critical to resolving their claim — and 98% of claims handled with broker involvement were successfully resolved.3

When do you need a broker?

For most standard insurance products, you can get a quote directly from Allianz. But some specialist products — particularly those involving complex or high-value risks — are only available through an accredited broker. This guide is designed to help you find one.

A broker is usually the right pathway when:

  • You need specialist cover like prestige motor, heavy transport, marine, plant and equipment, cyber, crop, or rideshare insurance.
  • You operate in a specialist industry such as transport, construction, energy, or agriculture.
  • Your business has complex risk profiles — such as a multinational or large corporate.
  • Your insurance needs change frequently as your business grows.

What this looks like in the real world?

A construction business taking on its first large commercial project asked its broker to review their existing cover before signing the contract.

The broker identified that their public liability limits weren't high enough for the project's requirements — and arranged additional cover through a specialist underwriting agency before work began.

That kind of proactive check-in is standard practice for a good broker. They're not just there at renewal time.

Broker and her client going through a document

Key statistics about insurance brokers in Australia

50.2% of Australia's commercial insurance market is managed through brokers.4
shield and spanner
91% of businesses said their broker helped them achieve better outcomes.5
98% of claims handled with broker support were successfully resolved.6

“Insurance is never one-size-fits-all — especially when the risks are complex or highly specialised. That’s where great brokers make all the difference. They take the time to truly understand their customers and shape solutions that deliver the right outcome, not just a quick one.

At Allianz, we have deep confidence in our broker partners because of that care and expertise. It’s a relationship built on trust, shared accountability, and a genuine commitment to getting it right for the customer — every time.” 

Julie Mitchell, Allianz Chief General Manager, Personal Injury and Commercial 

What happens when you engage a broker?

Working with a broker is a relationship, not a transaction. Here's what you can expect at each stage.

How to find the right insurance broker

Recommendations from people you trust — an industry association, a fellow business owner, or your accountant — are often the most reliable starting point

Ask your industry network

Recommendations from people you trust — an industry association, a fellow business owner, or your accountant — are often the most reliable starting point. Many brokers specialise by sector, so a referral from within your industry carries real weight.

Use the 'Need a Broker' tool

The National Insurance Brokers Association (NIBA) runs a free 'Need a Broker' tool that matches you with qualified, accredited brokers across Australia. It's independent, straightforward, and a good place to start your search.

Check ASIC for credentials

Make sure the broker you’re considering holds a current AFS licence or is an authorised representative of one. You can verify this for free on the ASIC Professional Registers.

Have an initial conversation

Before committing, speak to one or two brokers. A good broker will take the time to understand your business before offering any advice. If a broker rushes to a recommendation without asking questions, that's a red flag worth noting.

What to look out for when finding a broker?

What to look for in a broker

  • Relevant experience in your industry or risk type.
  • A current AFS licence — ask for the number.
  • Clear, upfront disclosure of how they're paid.
  • A willingness to explain your options in plain language.
  • Ongoing support, not just contact at renewal time.
  • A proactive approach to identifying new risks in your business.

Signs to watch for

  • Brokers who can't explain a policy wording in plain language when you ask.
  • If a broker seems tied to a single insurer without a clear reason.
  • The broker avoids or deflects questions about how they're paid.
  • If something doesn't feel right early on, trust that instinct.

What do I ask a broker?

  • Do you specialise in my industry?
  • Which insurers do you work with?
  • How are you paid — commission, fee, or both?
  • How will you support me if I need to make a claim?
  • How often will you review my cover?
  • Can you give me examples of claims you've managed in my industry?

Frequently asked questions

A broker works on your behalf — not the insurer's. They assess your risks, research cover options across the market, arrange your policy, and support you through renewals and claims. For complex or specialist risks, they can also help you identify gaps in your cover before an incident occurs.

Brokers are typically paid in one of two ways — or a combination of both.

Commission: The insurer pays the broker a percentage of your premium. This doesn't change the price you pay, but your broker must disclose it to you.

Fee for service: The broker charges you directly for their advice and service. This is more common for complex or high-value arrangements.

Your broker is legally required to tell you upfront how they're paid. This is set out under the Corporations Act 2001. If it's not offered, ask — any reputable broker will be transparent about it.

Some brokers can also arrange premium funding — spreading the cost of an annual policy into monthly instalments to help with cash flow. Ask your broker if this is available for your policy.

For most standard products, you can get a quote directly from Allianz. But for specialist products — such as heavy transport, prestige motor, crop, or cyber insurance — the cover is only available through an accredited broker. In those cases, a broker is the right pathway. If you're unsure which applies to your situation, the agencies listed on this page can point you in the right direction.

Most brokers will ask for details about the assets or activities you want to insure, your claims history, any contracts that set out insurance requirements, the risk controls you have in place, and financial information relevant to setting your sums insured. The more accurate and complete the picture you give your broker, the better placed they are to recommend appropriate cover and avoid gaps at claim time.

Yes. Talk to your broker about your preference. A good broker will include your preferred insurer in the market comparison and explain any differences in cover, limits, excesses, and pricing — so you can make an informed decision. You don't have to accept a recommendation you're not comfortable with.

At minimum, you should review your cover annually at renewal time. But it's worth reviewing sooner if something material changes in your business — a new contract, new equipment, changes to your turnover or payroll, expansion into new markets, or a renovation or build. Your broker should prompt you to do this. If they don't, it's a reasonable thing to raise with them.

We'd genuinely like to make this as straightforward as possible. The reason we can't point you to a specific broker is that doing so would constitute personal financial advice — and that requires a licence we don't hold for that purpose. It's a regulatory requirement, not a reflection of how much we care about getting you to the right place. What we can do is direct you to NIBA's ' Need a Broker' tool, which is a reliable, independent starting point. You can also ask the relevant agency partner whether they have brokers they work with regularly in your industry.

An insurer — like Allianz — designs and provides the insurance product. A broker is an independent expert that acts on your behalf, and is licenced to recommend insurance cover to meet your specific needs. They research your options, arrange your policy, and support you if you need to make a claim. For specialist products, the broker is your primary point of contact throughout. In Australia, brokers must hold an Australian Financial Services (AFS) licence or be an authorised representative of a licence holder. This means they're regulated, accountable, and required to act in your best interests.

Yes. Most brokers aren't tied to a single insurer, which means they can compare options across the market. For some specialist products backed by Allianz, your broker will place that cover through one of our agency partners.

Brokers who are NIBA members subscribe to the Insurance Brokers Code of Practice, which sets out standards for professional conduct. If you have a concern about your broker, raise it with them directly first. If it's not resolved to your satisfaction, you can escalate to the Australian Financial Complaints Authority (AFCA) — a free, independent dispute resolution service.

Learn more about the Australian Financial Complaints Authority (AFCA)

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*References

  1. NIBA Consumer Sentiment Research 2025
  2. NIBA Research by Deloitte, The Economic Value of Insurance Broking, 2020
  3. NIBA Consumer Sentiment Research 2025
  4. APRA Annual General Insurance Performance Statistics, GWP December 2024; KPMG analysis
  5. NIBA Consumer Sentiment Research 2025, CoreData
  6. NIBA Consumer Sentiment Research 2025, CoreData
Allianz acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the lands on which we live and work across Australia. We pay our respect to First Nations Elders past and present.

Any advice here does not take into account your individual objectives, financial situation or needs. Terms, conditions, limits, and exclusions apply. Before making a decision about this insurance, consider the relevant Product Disclosure Statement (PDS)/Policy Wording and Supplementary PDS (if applicable). Where applicable, the PDS/Policy Wording, Supplementary PDS and Target Market Determination (TMD) for this insurance are available on this website. We do not provide any form of advice if you call us to enquire about or purchase a product.

Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the insurer of any general insurance products offered, and Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFS Licence No. 296559 is the insurer of any life insurance products offered. Each entity is responsible for any statements and representations made about its products, on this website.