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Insurance broker vs licensed sales producer

The differences between insurance brokers and licensed sales producers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance broker has an average salary of $94,006, which is higher than the $38,353 average annual salary of a licensed sales producer.

The top three skills for an insurance broker include customer service, life insurance products and lead generation. The most important skills for a licensed sales producer are customer service, financial products, and life insurance.

Insurance broker vs licensed sales producer overview

Insurance BrokerLicensed Sales Producer
Yearly salary$94,006$38,353
Hourly rate$45.20$18.44
Growth rate6%6%
Number of jobs38,40340,137
Job satisfaction--
Most common degreeBachelor's Degree, 64%Bachelor's Degree, 54%
Average age4646
Years of experience--

Insurance broker vs licensed sales producer salary

Insurance brokers and licensed sales producers have different pay scales, as shown below.

Insurance BrokerLicensed Sales Producer
Average salary$94,006$38,353
Salary rangeBetween $62,000 And $141,000Between $28,000 And $52,000
Highest paying CityBirmingham, ALMadison, WI
Highest paying stateWashingtonWisconsin
Best paying companyLiberty Mutual InsuranceOracle
Best paying industryInsuranceManufacturing

Differences between insurance broker and licensed sales producer education

There are a few differences between an insurance broker and a licensed sales producer in terms of educational background:

Insurance BrokerLicensed Sales Producer
Most common degreeBachelor's Degree, 64%Bachelor's Degree, 54%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Insurance broker vs licensed sales producer demographics

Here are the differences between insurance brokers' and licensed sales producers' demographics:

Insurance BrokerLicensed Sales Producer
Average age4646
Gender ratioMale, 62.5% Female, 37.5%Male, 39.2% Female, 60.8%
Race ratioBlack 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, 9.3% Unknown, 3.6% Hispanic or Latino, 15.9% Asian, 4.9% White, 66.2% American Indian and Alaska Native, 0.1%
LGBT Percentage7%7%

Differences between insurance broker and licensed sales producer duties and responsibilities

Insurance broker example responsibilities.

  • Used consultative upselling techniques to provide leads
  • Work as an independent financial planner selling life insurance and annuities to individuals and families
  • Facilitate communications between doctors, hospitals, third party insurance companies and patients to obtain and verify patient billing information.
  • Deliver on the GEICO promise to customers by solving problems and giving competent insurance advice in a courteous and proficient manner.

Licensed sales producer example responsibilities.

  • Generate production and leads through telemarketing sales.
  • Provide quotes, bound coverage for insurance products through Allstate and its brokered affiliates for new business and cross sell campaigns.
  • Directly-Assist agency owner in developing new market strategies to solicit new business and increase cross-selling to existing book of business.
  • Used consultative upselling techniques to provide leads

Insurance broker vs licensed sales producer skills

Common insurance broker skills
  • Customer Service, 11%
  • Life Insurance Products, 8%
  • Lead Generation, 8%
  • Financial Resources, 8%
  • Annuities, 8%
  • Insurance Carriers, 6%
Common licensed sales producer skills
  • Customer Service, 34%
  • Financial Products, 9%
  • Life Insurance, 6%
  • Product Knowledge, 3%
  • Policy Changes, 3%
  • Outbound Calls, 3%

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Updated January 8, 2025

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