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The differences between insurance account representatives and licensed insurance agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, a licensed insurance agent has an average salary of $54,118, which is higher than the $39,881 average annual salary of an insurance account representative.
The top three skills for an insurance account representative include schedule appointments, customer service and develop leads. The most important skills for a licensed insurance agent are excellent time management, work ethic, and strong customer service.
| Insurance Account Representative | Licensed Insurance Agent | |
| Yearly salary | $39,881 | $54,118 |
| Hourly rate | $19.17 | $26.02 |
| Growth rate | 6% | 6% |
| Number of jobs | 104,895 | 78,016 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 50% |
| Average age | 46 | 46 |
| Years of experience | - | - |
An Insurance Account Representative manages the accounts of the clients assigned to them. They sell and make negotiations in health, life, or other insurance. They also carry out is utilizing client-centered ability and strong customer service for strong policyholder-customer relationships. Insurance Account Representatives should develop skills in scheduling appointments, customer service, and customer identification.
A licensed insurance agent is primarily responsible for finding and utilizing opportunities to secure insurance sales. Moreover, a licensed insurance agent must reach out to potential clients, discuss and negotiate terms, respond to inquiries, and perform various assessments to determine their ability to uphold financial obligations. Besides building a client base, they also need to handle current policies, process renewals, monitor claims, maintain an accurate record of transactions, prepare progress reports and strategies, and distribute policy proceeds according to the company rules and regulations.
Insurance account representatives and licensed insurance agents have different pay scales, as shown below.
| Insurance Account Representative | Licensed Insurance Agent | |
| Average salary | $39,881 | $54,118 |
| Salary range | Between $30,000 And $51,000 | Between $32,000 And $88,000 |
| Highest paying City | Milwaukee, WI | Washington, DC |
| Highest paying state | Wisconsin | Hawaii |
| Best paying company | Guidehouse | Torchmark |
| Best paying industry | Insurance | Finance |
There are a few differences between an insurance account representative and a licensed insurance agent in terms of educational background:
| Insurance Account Representative | Licensed Insurance Agent | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance account representatives' and licensed insurance agents' demographics:
| Insurance Account Representative | Licensed Insurance Agent | |
| Average age | 46 | 46 |
| Gender ratio | Male, 29.3% Female, 70.7% | Male, 39.0% Female, 61.0% |
| Race ratio | Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 15.9% Asian, 4.9% White, 66.2% American Indian and Alaska Native, 0.1% | Black or African American, 9.2% Unknown, 3.6% Hispanic or Latino, 15.7% Asian, 4.9% White, 66.5% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |