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The differences between commercial lines account managers and licensed agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, a commercial lines account manager has an average salary of $57,372, which is higher than the $42,315 average annual salary of a licensed agent.
The top three skills for a commercial lines account manager include customer service, management system and cancellations. The most important skills for a licensed agent are HIPAA, customer service, and inbound calls.
| Commercial Lines Account Manager | Licensed Agent | |
| Yearly salary | $57,372 | $42,315 |
| Hourly rate | $27.58 | $20.34 |
| Growth rate | 6% | 6% |
| Number of jobs | 84,354 | 68,666 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 51% | Bachelor's Degree, 52% |
| Average age | 46 | 46 |
| Years of experience | - | - |
A commercial lines account manager is an individual who provides quality service to clients as well as act as the daily liaison between insurance company, agent, and their clients. Commercial lines account managers are required to address various coverage issues and handle inside service work that is associated with the client's account. They must assist their clients in making appropriate coverage changes and educate them about coverage, exclusions, and exposures. Commercial lines account managers must also set up finance contracts with PFS and help negotiate rates if applicable.
Licensed Agents act as authorized brokers acting on behalf of an individual owner or organization in selling a product, service, or property. There are many different pathways a licensed agent can delve into, such as in real estate, insurance, and banking. For instance, a real estate agent uses its license to be able to sell and rent properties. Their duties include gathering property information, evaluating property estimates, marketing properties, and represent sellers in the process of negotiation. They seek prospective buyers, monitor the sale process between stakeholders, and reach a mutually agreed price.
Commercial lines account managers and licensed agents have different pay scales, as shown below.
| Commercial Lines Account Manager | Licensed Agent | |
| Average salary | $57,372 | $42,315 |
| Salary range | Between $44,000 And $74,000 | Between $28,000 And $62,000 |
| Highest paying City | Bothell, WA | Kirkland, WA |
| Highest paying state | Washington | Alaska |
| Best paying company | UBS | HPOne |
| Best paying industry | Start-up | Insurance |
There are a few differences between a commercial lines account manager and a licensed agent in terms of educational background:
| Commercial Lines Account Manager | Licensed Agent | |
| Most common degree | Bachelor's Degree, 51% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commercial lines account managers' and licensed agents' demographics:
| Commercial Lines Account Manager | Licensed Agent | |
| Average age | 46 | 46 |
| Gender ratio | Male, 12.8% Female, 87.2% | Male, 41.3% Female, 58.7% |
| Race ratio | Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 15.8% Asian, 4.9% White, 66.4% American Indian and Alaska Native, 0.1% | Black or African American, 9.2% Unknown, 3.6% Hispanic or Latino, 15.8% Asian, 4.9% White, 66.4% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |