What is a Kaufmann/Kauffrau für Versicherungen und Finanzen?
(Insurance and Finance Clerk / Insurance and Financial Services Assistant)

A Kaufmann/Kauffrau für Versicherungen und Finanzen is a specialist who advises clients on insurance (health, pension, property, liability, accident, etc.) and financial solutions (savings, investments, retirement planning, financing).
The main goal is to manage risks and support clients in reaching their financial goals.

How is the training organised?

• Dual vocational training (Ausbildung), duration: 3 years

• Combination of:

  • Practical training in:

    • insurance companies

    • banks and financial service providers

    • independent advisory firms

  • Theoretical training at a vocational school (Berufsschule)

    • insurance theory, financial products, business administration, law, sales and communication

• Final exam recognised by the Chamber of Industry and Commerce (IHK)

Later, graduates can specialise in one of two directions:

• Insurance (Versicherungen) – focus on insurance products and claims management

• Financial advice (Finanzberatung) – focus on investments, saving schemes and financing

Typical daily tasks

Insurance consulting

• Analysing the client’s risk situation and life circumstances

• Preparing individual insurance concepts

• Explaining coverage, conditions, exclusions and premiums

Financial advice

• Advising on savings plans, investment products and retirement schemes

• Comparing financial products and explaining chances and risks

• Supporting long-term planning (e.g. buying a home, private pension)

Contract management

• Creating, adjusting and renewing contracts

• Handling insurance claims, checking documents and following up until settlement

• Maintaining client data and documentation

Customer service

• Answering client questions and requests

• Providing ongoing support and building long-term trust-based relationships

• Looking after existing clients and following up after contract conclusion

Sales and marketing

• Acquiring new clients

• Presenting new tariffs and products

• Taking part in promotions, fairs or information events

Where do they work?

• Insurance companies (e.g. Allianz, ERGO, etc.)

• Banks and savings banks

• Independent insurance and financial advisory firms

• Brokerage offices and financial service providers

Key skills

• Strong communication and persuasion skills

• Good financial understanding and analytical thinking

• High level of reliability and responsibility

• Good organisational skills and time management

• Talent for sales and customer service

Career development opportunities

• Promotion to senior advisor, team leader or branch manager

• Further qualifications such as:

  • Versicherungsfachwirt/in (advanced insurance specialist)

  • Finanzfachwirt/in (advanced finance specialist)

• University studies in:

  • Business administration,

  • Economics,

  • Finance and risk management,

  • Insurance management

• Specialisation in:

  • risk management

  • wealth management

  • product development

Difference to Bankkaufmann/-frau (bank clerk)

Summary

The profession Kaufmann/Kauffrau für Versicherungen und Finanzen combines finance knowledge, consulting and sales:

• It opens broad opportunities in the insurance and financial sector.

• It offers solid career prospects with good options for specialisation and management roles.

• It is suitable for people who enjoy working with clients, dealing with financial topics and planning individual solutions.

— The editorial team aims to provide accurate and well-researched information. However, regulations and market conditions may change. Please treat this text as initial guidance and contact official institutions (e.g. IHK, employment agency or professional counselling services) for binding, up-to-date information.