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Insurance consultant vs insurance producer

The differences between insurance consultants and insurance producers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance consultant has an average salary of $68,670, which is higher than the $65,112 average annual salary of an insurance producer.

The top three skills for an insurance consultant include insurance products, powerpoint and term care. The most important skills for an insurance producer are casualty insurance, customer service, and develop leads.

Insurance consultant vs insurance producer overview

Insurance ConsultantInsurance Producer
Yearly salary$68,670$65,112
Hourly rate$33.01$31.30
Growth rate6%6%
Number of jobs42,38344,922
Job satisfaction--
Most common degreeBachelor's Degree, 61%Bachelor's Degree, 53%
Average age4646
Years of experience--

What does an insurance consultant do?

An insurance consultant works at insurance companies where they are primarily in charge of reviewing and assessing client requirements to match them with the insurance package that fits their needs and financial capabilities. It is also their responsibility to verify client information, conduct research and analyses, perform risk assessments, issue insurance quotations, and process insurance claims. An insurance consultant also assists clients by answering inquiries, helping them understand every procedure, recommending options, and solving issues and concerns should there be any.

What does an insurance producer do?

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 consultant vs insurance producer salary

Insurance consultants and insurance producers have different pay scales, as shown below.

Insurance ConsultantInsurance Producer
Average salary$68,670$65,112
Salary rangeBetween $44,000 And $105,000Between $45,000 And $93,000
Highest paying CitySeattle, WAMadison, WI
Highest paying stateWashingtonWisconsin
Best paying companyAIGDahl Consulting
Best paying industryMediaReal Estate

Differences between insurance consultant and insurance producer education

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

Insurance ConsultantInsurance Producer
Most common degreeBachelor's Degree, 61%Bachelor's Degree, 53%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Insurance consultant vs insurance producer demographics

Here are the differences between insurance consultants' and insurance producers' demographics:

Insurance ConsultantInsurance Producer
Average age4646
Gender ratioMale, 54.4% Female, 45.6%Male, 51.9% Female, 48.1%
Race ratioBlack or African American, 9.5% Unknown, 3.6% Hispanic or Latino, 16.2% Asian, 4.9% White, 65.7% 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 Percentage7%7%

Differences between insurance consultant and insurance producer duties and responsibilities

Insurance consultant example responsibilities.

  • Manage civil litigation matters such as general and complex litigation.
  • Advise clients with financial planning using annuities and UL products.
  • Represent the office at Medicare and Medicaid meetings to be inform of any changes.
  • Use excellent presentation skills to conduct group sessions to eligible Medicare and Medicaid individuals.
  • Represent multiple carriers offering life, disability, mortgage protection, final expense and annuities.
  • General resource to partnership on property and casualty matters, insurance policy contract review allowing partners to successfully negotiate litigation matters.
  • Show more

Insurance producer example responsibilities.

  • Used consultative upselling techniques to provide leads
  • 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.

Insurance consultant vs insurance producer skills

Common insurance consultant skills
  • Insurance Products, 13%
  • PowerPoint, 12%
  • Term Care, 9%
  • Casualty Insurance, 9%
  • Customer Service, 7%
  • Health Insurance, 6%
Common insurance producer skills
  • Casualty Insurance, 7%
  • Customer Service, 7%
  • Develop Leads, 6%
  • Health Insurance, 6%
  • Financial Services, 5%
  • Phone Calls, 5%