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The differences between insurance agents and insurance producers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance producer has an average salary of $65,112, which is higher than the $51,936 average annual salary of an insurance agent.
The top three skills for an insurance agent include customer service, insurance sales and health insurance. The most important skills for an insurance producer are casualty insurance, customer service, and develop leads.
| Insurance Agent | Insurance Producer | |
| Yearly salary | $51,936 | $65,112 |
| Hourly rate | $24.97 | $31.30 |
| Growth rate | 6% | 6% |
| Number of jobs | 67,977 | 44,922 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 53% |
| Average age | 46 | 46 |
| Years of experience | - | - |
An insurance agent is responsible for inviting potential clients to the insurance company by offering different insurance services. Insurance agents must have a comprehensive knowledge of insurance types to provide the clients with the best insurance option in the market. The insurance agents should evaluate a client's long-term needs and financial goals to create individual packages as the insurance company allowed. An insurance agent also handles policy renewals and keeps customers' insurance files for reference.
An insurance producer is responsible for selling and buying financial services and products for an insurance company. They negotiate issues regarding health, life insurance, and other properties. Also, an insurance producer maintains a good relationship between clients and prospective clients by offering the best insurance service and ensuring that all the policies and guidelines are fully followed.
Insurance agents and insurance producers have different pay scales, as shown below.
| Insurance Agent | Insurance Producer | |
| Average salary | $51,936 | $65,112 |
| Salary range | Between $30,000 And $88,000 | Between $45,000 And $93,000 |
| Highest paying City | New York, NY | Madison, WI |
| Highest paying state | Hawaii | Wisconsin |
| Best paying company | Z Capital Group | Dahl Consulting |
| Best paying industry | Finance | Real Estate |
There are a few differences between an insurance agent and an insurance producer in terms of educational background:
| Insurance Agent | Insurance Producer | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance agents' and insurance producers' demographics:
| Insurance Agent | Insurance Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 51.6% Female, 48.4% | Male, 51.9% Female, 48.1% |
| 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, 9.5% Unknown, 3.6% Hispanic or Latino, 16.1% Asian, 4.9% White, 65.8% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |