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The differences between licensed insurance agents and insurance representatives can be seen in a few details. Each job has different responsibilities and duties. Additionally, a licensed insurance agent has an average salary of $54,118, which is higher than the $35,958 average annual salary of an insurance representative.
The top three skills for a licensed insurance agent include excellent time management, work ethic and strong customer service. The most important skills for an insurance representative are customer service, patients, and health insurance.
| Licensed Insurance Agent | Insurance Representative | |
| Yearly salary | $54,118 | $35,958 |
| Hourly rate | $26.02 | $17.29 |
| Growth rate | 6% | 6% |
| Number of jobs | 78,016 | 87,843 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 45% |
| Average age | 46 | 46 |
| Years of experience | - | - |
A licensed insurance agent is primarily responsible for finding and utilizing opportunities to secure insurance sales. Moreover, a licensed insurance agent must reach out to potential clients, discuss and negotiate terms, respond to inquiries, and perform various assessments to determine their ability to uphold financial obligations. Besides building a client base, they also need to handle current policies, process renewals, monitor claims, maintain an accurate record of transactions, prepare progress reports and strategies, and distribute policy proceeds according to the company rules and regulations.
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.
Licensed insurance agents and insurance representatives have different pay scales, as shown below.
| Licensed Insurance Agent | Insurance Representative | |
| Average salary | $54,118 | $35,958 |
| Salary range | Between $32,000 And $88,000 | Between $29,000 And $44,000 |
| Highest paying City | Washington, DC | Lacey, WA |
| Highest paying state | Hawaii | Washington |
| Best paying company | Torchmark | Santander Bank |
| Best paying industry | Finance | Finance |
There are a few differences between a licensed insurance agent and an insurance representative in terms of educational background:
| Licensed Insurance Agent | Insurance Representative | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 45% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between licensed insurance agents' and insurance representatives' demographics:
| Licensed Insurance Agent | Insurance Representative | |
| Average age | 46 | 46 |
| Gender ratio | Male, 39.0% Female, 61.0% | Male, 29.8% Female, 70.2% |
| Race ratio | Black or African American, 9.2% Unknown, 3.6% Hispanic or Latino, 15.7% Asian, 4.9% White, 66.5% 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% |