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The differences between insurance representatives and licensed insurance producers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a licensed insurance producer has an average salary of $66,026, which is higher than the $35,958 average annual salary of an insurance representative.
The top three skills for an insurance representative include customer service, patients and health insurance. The most important skills for a licensed insurance producer are work ethic, lead generation, and annuities.
| Insurance Representative | Licensed Insurance Producer | |
| Yearly salary | $35,958 | $66,026 |
| Hourly rate | $17.29 | $31.74 |
| Growth rate | 6% | 6% |
| Number of jobs | 87,843 | 54,872 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 45% | Bachelor's Degree, 57% |
| Average age | 46 | 46 |
| Years of experience | - | - |
An insurance representative serves as a client's point of contact in insurance companies. Their responsibilities include researching client opportunities, reaching out to potential clients to offer products and services, discussing terms and policies, providing detailed advice, and assisting in every procedure, ensuring convenience and client satisfaction. Aside from securing sales, an insurance representative may also process applications and claims while adhering to the company's policies and regulations. Furthermore, they may also perform clerical tasks such as handling calls and correspondence, arranging appointments, and maintaining records of all transactions.
An Insurance producer, also called an insurance agent that promotes and sells insurance benefits and packages to clients. This includes life insurance, property, and health insurance that is offered by not only one company. They are responsible for promoting customer service and creates a good relationship between the company and the insurer. They also serve as a point of a contract if there are insurers that need someone who can assist them with what particular package they can get.
Insurance representatives and licensed insurance producers have different pay scales, as shown below.
| Insurance Representative | Licensed Insurance Producer | |
| Average salary | $35,958 | $66,026 |
| Salary range | Between $29,000 And $44,000 | Between $44,000 And $97,000 |
| Highest paying City | Lacey, WA | Washington, DC |
| Highest paying state | Washington | Washington |
| Best paying company | Santander Bank | Berkshire Hathaway |
| Best paying industry | Finance | Finance |
There are a few differences between an insurance representative and a licensed insurance producer in terms of educational background:
| Insurance Representative | Licensed Insurance Producer | |
| Most common degree | Bachelor's Degree, 45% | Bachelor's Degree, 57% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance representatives' and licensed insurance producers' demographics:
| Insurance Representative | Licensed Insurance Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 29.8% Female, 70.2% | Male, 39.2% Female, 60.8% |
| Race ratio | Black or African American, 9.4% Unknown, 3.6% Hispanic or Latino, 16.1% Asian, 4.9% White, 65.9% American Indian and Alaska Native, 0.1% | Black or African American, 9.4% Unknown, 3.6% Hispanic or Latino, 16.1% Asian, 4.9% White, 65.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |