Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between licensed insurance agents and sales producers 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 $51,287 average annual salary of a sales producer.
The top three skills for a licensed insurance agent include excellent time management, work ethic and strong customer service. The most important skills for a sales producer are insurance products, strong work ethic, and business relationships.
| Licensed Insurance Agent | Sales Producer | |
| Yearly salary | $54,118 | $51,287 |
| Hourly rate | $26.02 | $24.66 |
| Growth rate | 6% | 6% |
| Number of jobs | 78,016 | 41,951 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 60% |
| 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.
A sales producer is responsible for performing sales calls and administering all leads. You will be responsible for preparing the policies aimed at sales procedures and developing the necessary sales documents. Other responsibilities include making sure that all sales personnel adhere to all policies and procedures, coordinating with customers about policy expiration dates, and maintaining strong and long-lasting relationships with customers. As a sales producer, you will be responsible for managing prospective sale campaigns and managing all correspondence with both prospective and existing clients.
Licensed insurance agents and sales producers have different pay scales, as shown below.
| Licensed Insurance Agent | Sales Producer | |
| Average salary | $54,118 | $51,287 |
| Salary range | Between $32,000 And $88,000 | Between $24,000 And $107,000 |
| Highest paying City | Washington, DC | Arlington, MA |
| Highest paying state | Hawaii | Massachusetts |
| Best paying company | Torchmark | Cochrane & Company |
| Best paying industry | Finance | - |
There are a few differences between a licensed insurance agent and a sales producer in terms of educational background:
| Licensed Insurance Agent | Sales Producer | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between licensed insurance agents' and sales producers' demographics:
| Licensed Insurance Agent | Sales Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 39.0% Female, 61.0% | Male, 53.2% Female, 46.8% |
| 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, 9.5% Unknown, 3.6% Hispanic or Latino, 16.2% Asian, 4.9% White, 65.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |