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The differences between insurance underwriters, sales 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 $40,226 average annual salary of an insurance underwriter, sales.
The top three skills for an insurance underwriter, sales include lead generation, financial services and customer service. The most important skills for an insurance producer are casualty insurance, customer service, and develop leads.
| Insurance Underwriter, Sales | Insurance Producer | |
| Yearly salary | $40,226 | $65,112 |
| Hourly rate | $19.34 | $31.30 |
| Growth rate | 6% | 6% |
| Number of jobs | 50,699 | 44,922 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 53% |
| Average age | 46 | 46 |
| Years of experience | - | - |
A sales insurance underwriter evaluates new or renewal applications in turn for insurance coverage for companies and individuals. Insurance underwriters analyze insurance proposal risks and identify policy terms. They perform calculations on premiums based on statistical, background, and actuarial information. Several insurance businesses and companies operate graduate schemes that offer to underwrite. Among the necessary skills for this job include communication, decision making, and detail orientation.
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 underwriters, sales and insurance producers have different pay scales, as shown below.
| Insurance Underwriter, Sales | Insurance Producer | |
| Average salary | $40,226 | $65,112 |
| Salary range | Between $28,000 And $56,000 | Between $45,000 And $93,000 |
| Highest paying City | Los Angeles, CA | Madison, WI |
| Highest paying state | Wisconsin | Wisconsin |
| Best paying company | New York Life Insurance | Dahl Consulting |
| Best paying industry | Insurance | Real Estate |
There are a few differences between an insurance underwriter, sales and an insurance producer in terms of educational background:
| Insurance Underwriter, Sales | Insurance Producer | |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance underwriters, sales' and insurance producers' demographics:
| Insurance Underwriter, Sales | Insurance Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 61.0% Female, 39.0% | Male, 51.9% Female, 48.1% |
| Race ratio | Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 16.0% Asian, 4.9% White, 66.1% 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% |