Licensed Agents act as authorized brokers acting on behalf of an individual owner or organization in selling a product, service, or property. There are many different pathways a licensed agent can delve into, such as in real estate, insurance, and banking. For instance, a real estate agent uses its license to be able to sell and rent properties. Their duties include gathering property information, evaluating property estimates, marketing properties, and represent sellers in the process of negotiation. They seek prospective buyers, monitor the sale process between stakeholders, and reach a mutually agreed price.

Licensed Agent Responsibilities

Here are examples of responsibilities from real licensed agent resumes representing typical tasks they are likely to perform in their roles.

  • Manage lead flow and determine where agents would be place in field throughout territory.
  • Replace income, plus cover final expenses at death.
  • Explain Medicare coverage options and generate need-base solutions to cover medical needs.
  • Build customer relationships and communication at all levels to execute business objectives and sales.
  • Establish lines of communication throughout the community by setting up different events through other business partnerships and constituents.
  • Operate remote telecommunications using applications and secure computer communications to troubleshoot and resolve issues on customer Samsung devices.
  • Prepare daily reports, weekly reports, and invoices on QuickBooks.
  • Document, track and report advisor's business income and expenses utilizing QuickBooks.
  • Work as an independent agent for AFLAC in the direct and payroll sectors.
  • Enroll their employees on AFLAC health insurance programs through a systematic education procedure.
Licensed Agent Traits
Customer-service skills involve listening skills that allow you to communicate efficiently and respectfully with a customer.
Detail oriented involves being extremely mindful and observant of all details.
Math skills include being able to perform basic addition and subtraction, as well as solving for the unknown and visualizing data that will be helpful in the workplace.

Licensed Agent Job Description

Between the years 2018 and 2028, licensed agent jobs are expected to undergo a growth rate described as "faster than average" at 10%, according to the Bureau of Labor Statistics. So if the thought "should I become a licensed agent?" Has crossed your mind, maybe you should take the growth rate into account. In addition, the number of licensed agent opportunities that are projected to become available by 2028 is 48,300.

On average, the licensed agent annual salary is $28,690 per year, which translates to $13.79 an hour. Generally speaking, licensed agents earn anywhere from $21,000 to $38,000 a year, which means that the top-earning licensed agents make $17,000 more than the ones at the lower end of the spectrum.

It's hard work to become a licensed agent, but even the most dedicated employees consider switching careers from time to time. Whether you're interested in a more challenging position or just looking for a fresh start, we've compiled extensive information on becoming a broker, insurance producer, insurance broker, and insurance verification specialist.

Licensed Agent Jobs You Might Like

Licensed Agent Resume Examples

Licensed Agent Skills and Personality Traits

We calculated that 27% of Licensed Agents are proficient in Hipaa, Outbound Calls, and Customer Service. They’re also known for soft skills such as Customer-service skills, Detail oriented, and Math skills.

We break down the percentage of Licensed Agents that have these skills listed on their resume here:

  • Hipaa, 27%

    Handled, processed and accurately recorded confidential financial and health customer information following all applicable HIPAA privacy laws.

  • Outbound Calls, 12%

    Place outbound calls to customers in our database about their health insurance and/or prescription drug plans to educate customers on plans.

  • Customer Service, 11%

    Provide superior customer service that exceeds our customers/members expectations by promptly responding to questions and addressing needs that routinely come up.

  • Life Insurance, 7%

    Analyze client financial information and determine appropriate recommendations for life insurance and investments.

  • Casualty Insurance, 5%

    Make endorsements to policies and keep up to date on all applicable laws and policies relating to property and casualty insurance.

  • Health Care, 5%

    Educate consumers about networks, doctors, hospitals, and other health care providers to improve their overall health and wellness.

Some of the skills we found on licensed agent resumes included "hipaa," "outbound calls," and "customer service." We have detailed the most important licensed agent responsibilities below.

  • A licensed agent responsibilities sometimes require "analytical skills." The responsibilities that rely on this skills are shown by this resume excerpt: "insurance sales agents must evaluate the needs of each client to determine the appropriate insurance policy." This resume example shows how this skill is used by licensed agents: "help educate retirees on insurance options, compare plans, recommend solutions based on needs analysis. "
  • Yet another important skill that a licensed agent must demonstrate is "initiative." Insurance sales agents need to actively seek out new customers in order to maintain a flow of commissions. This is clearly demonstrated in this example from a licensed agent who stated: "specialized in medicare sales and supported recruitment initiatives during annual enrollment periods. "
  • While "communication skills" is listed last on this skills list, don't underestimate its importance to licensed agent responsibilities. The skill is described by this resume snippet, "insurance sales agents must be able to communicate effectively with customers by listening to their requests and suggesting suitable policies." Here is an example of how this skill is used, "maintain communications with existing client base regarding new lines of business also assisted with life insurance production. "
  • See the full list of licensed agent skills.

    We've found that 52.2% of licensed agents have earned a bachelor's degree. Furthermore, 7.1% earned their master's degrees before becoming a licensed agent. While it's true that most licensed agents have a college degree, it's generally possible to become one with only a high school degree. In fact, one out of every six licensed agents did not spend the extra money to attend college.

    Those licensed agents who do attend college, typically earn either a business degree or a psychology degree. Less commonly earned degrees for licensed agents include a marketing degree or a finance degree.

    Once you're ready to become a licensed agent, you should explore the companies that typically hire licensed agents. According to licensed agent resumes that we searched through, licensed agents are hired the most by Alorica, Teletech Holdings, and SP Plus. Currently, Alorica has 27 licensed agent job openings, while there are 7 at Teletech Holdings and 6 at SP Plus.

    Since salary is important to some licensed agents, it's good to note that they are figured to earn the highest salaries at Alorica, Chubb, and Teletech Holdings. If you were to take a closer look at Alorica, you'd find that the average licensed agent salary is $40,837. Then at Chubb, licensed agents receive an average salary of $40,045, while the salary at Teletech Holdings is $33,880.

    View more details on licensed agent salaries across the United States.

    If you earned a degree from the top 100 educational institutions in the United States, you might want to take a look at Aflac, New York Life Insurance Company, and American Income Life Insurance .. These three companies have hired a significant number of licensed agents from these institutions.

    For the most part, licensed agents make their living in the insurance and finance industries. Licensed agents tend to make the most in the insurance industry with an average salary of $35,648. The licensed agent annual salary in the agriculture and technology industries generally make $33,129 and $33,033 respectively. Additionally, licensed agents who work in the insurance industry make 42.1% more than licensed agents in the automotive Industry.

    The three companies that hire the most prestigious licensed agents are:

      What Brokers Do

      Brokers can either be a firm or an individual acting as an intermediary between a securities exchange and an investor. They often provide services to individual investors and traders who cannot engage directly with security exchanges, which only accept orders from their members. They provide investors and traders with an investment plan, market intelligence, and research. They may cross-sell some financial services and products offered by their brokerage firms. They are also typically classified as discount or full-service brokers.

      In this section, we compare the average licensed agent annual salary with that of a broker. Typically, brokers earn a $52,139 higher salary than licensed agents earn annually.

      Even though licensed agents and brokers have vast differences in their careers, a few of the skills required to do both jobs are similar. For example, both careers require outbound calls, life insurance, and health care in the day-to-day roles.

      These skill sets are where the common ground ends though. A licensed agent responsibility is more likely to require skills like "hipaa," "customer service," "casualty insurance," and "personal lines." Whereas a broker requires skills like "procedures," "brokerage," "communication," and "risk management." Just by understanding these different skills you can see how different these careers are.

      Brokers receive the highest salaries in the telecommunication industry coming in with an average yearly salary of $120,466. But licensed agents are paid more in the insurance industry with an average salary of $35,648.

      Brokers tend to reach higher levels of education than licensed agents. In fact, brokers are 5.4% more likely to graduate with a Master's Degree and 1.5% more likely to have a Doctoral Degree.

      What Are The Duties Of an Insurance Producer?

      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.

      The next role we're going to look at is the insurance producer profession. Typically, this position earns a higher pay. In fact, they earn a $15,539 higher salary than licensed agents per year.

      While the salary may be different for these job positions, there is one similarity and that's a few of the skills needed to perform certain duties. We used info from lots of resumes to find that both licensed agents and insurance producers are known to have skills such as "outbound calls," "customer service," and "life insurance. "

      But both careers also use different skills, according to real licensed agent resumes. While licensed agent responsibilities can utilize skills like "hipaa," "medicare," "real estate," and "open enrollment," some insurance producers use skills like "communication," "income," "client relationships," and "phone calls."

      On average, insurance producers earn a higher salary than licensed agents. There are industries that support higher salaries in each profession respectively. Interestingly enough, insurance producers earn the most pay in the agriculture industry with an average salary of $53,268. Whereas, licensed agents have higher paychecks in the insurance industry where they earn an average of $35,648.

      In general, insurance producers study at similar levels of education than licensed agents. They're 1.5% more likely to obtain a Master's Degree while being 1.5% more likely to earn a Doctoral Degree.

      How an Insurance Broker Compares

      Insurance brokers are responsible for assisting clients to determine their liability risks and in selecting the appropriate policies for their family, home, business, or automobile to ensure their protection. They direct clients in creating a sound decision and supply them with a variety of quotes that best suit their needs. Their duties include demonstrating the benefits, terms, conditions, and suspension for a number of participating insurance policies. Also, they may negotiate lesser rates for their clients and continue in guiding these clients in technical issues like filing a claim or changing their insurance coverage.

      The third profession we take a look at is insurance broker. On an average scale, these workers bring in higher salaries than licensed agents. In fact, they make a $71,855 higher salary per year.

      While looking through the resumes of several licensed agents and insurance brokers we discovered that both professions have similar skills. These similarities include skills such as "outbound calls," "customer service," and "life insurance," but they differ when it comes to other required skills.

      As mentioned, these two careers differ between other skills that are required for performing the work exceedingly well. For example, gathering from licensed agents resumes, they are more likely to have skills like "hipaa," "financial services," "real estate," and "current customers." But a insurance broker might have skills like "auto insurance," "brokerage," "independent insurance," and "risk management."

      Interestingly enough, insurance brokers earn the most pay in the finance industry, where they command an average salary of $79,831. As mentioned previously, licensed agents highest annual salary comes from the insurance industry with an average salary of $35,648.

      Insurance brokers typically study at similar levels compared with licensed agents. For example, they're 2.2% more likely to graduate with a Master's Degree, and 0.7% more likely to earn a Doctoral Degree.

      Description Of an Insurance Verification Specialist

      An insurance verification specialist is responsible for confirming a patient's insurance details and eligibility to receive medical care services. Insurance verification specialists review the insurance documents of the patients, including its coverage and limitations, and escalate concerns to the supervisor for immediate resolution. They process paperwork accordingly upon coordinating with the patients and attending health professionals. An insurance verification specialist must have excellent communication and organizational skills, finishing administrative tasks efficiently under minimal supervision.

      The fourth career we look at typically earns higher pay than licensed agents. On average, insurance verification specialists earn a difference of $1,975 higher per year.

      While both licensed agents and insurance verification specialists complete day-to-day tasks using similar skills like hipaa, outbound calls, and customer service, the two careers also vary in other skills.

      Each job requires different skills like "casualty insurance," "new clients," "financial services," and "medicare," which might show up on a licensed agent resume. Whereas insurance verification specialist might include skills like "medical records," "data entry," "patient demographics," and "phone calls."

      Now, let's take a closer look at the financials in each career. The health care industry tends to pay more for insurance verification specialists with an average of $33,706. While the highest licensed agent annual salary comes from the insurance industry.

      In general, insurance verification specialists reach similar levels of education when compared to licensed agents resumes. Insurance verification specialists are 4.8% less likely to earn their Master's Degree and 0.6% less likely to graduate with a Doctoral Degree.