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Surety bond agent vs licensed insurance producer

The differences between surety bond agents 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 $37,289 average annual salary of a surety bond agent.

The top three skills for a surety bond agent include surety, bonds and customer service. The most important skills for a licensed insurance producer are work ethic, lead generation, and annuities.

Surety bond agent vs licensed insurance producer overview

Surety Bond AgentLicensed Insurance Producer
Yearly salary$37,289$66,026
Hourly rate$17.93$31.74
Growth rate6%6%
Number of jobs28,69054,872
Job satisfaction--
Most common degreeBachelor's Degree, 42%Bachelor's Degree, 57%
Average age4646
Years of experience--

Surety bond agent vs licensed insurance producer salary

Surety bond agents and licensed insurance producers have different pay scales, as shown below.

Surety Bond AgentLicensed Insurance Producer
Average salary$37,289$66,026
Salary rangeBetween $22,000 And $61,000Between $44,000 And $97,000
Highest paying City-Washington, DC
Highest paying state-Washington
Best paying company-Berkshire Hathaway
Best paying industry-Finance

Differences between surety bond agent and licensed insurance producer education

There are a few differences between a surety bond agent and a licensed insurance producer in terms of educational background:

Surety Bond AgentLicensed Insurance Producer
Most common degreeBachelor's Degree, 42%Bachelor's Degree, 57%
Most common majorBusinessBusiness
Most common collegeHoward UniversityUniversity of Pennsylvania

Surety bond agent vs licensed insurance producer demographics

Here are the differences between surety bond agents' and licensed insurance producers' demographics:

Surety Bond AgentLicensed Insurance Producer
Average age4646
Gender ratioMale, 53.9% Female, 46.1%Male, 39.2% Female, 60.8%
Race ratioBlack or African American, 9.2% Unknown, 3.6% Hispanic or Latino, 15.7% Asian, 4.8% White, 66.6% 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 Percentage7%7%

Differences between surety bond agent and licensed insurance producer duties and responsibilities

Surety bond agent example responsibilities.

  • Manage employees, handle complaints, employee scheduling, and payroll.
  • Maintain accuracy in calculating interest and commissions on surety bonds.
  • Process all bonds, error free, as necessary and where power of attorney is granted.
  • Conduct surety education sessions for sales and production staff
  • Operate remote telecommunications using applications and secure computer communications to troubleshoot and resolve issues on customer Samsung devices.
  • Help clients with changes require to their bond in a quick and timely manner.
  • Show more

Licensed insurance producer example responsibilities.

  • Used consultative upselling techniques to provide leads
  • Present AFLAC benefits packages to various company owners and employees.
  • Educate customers on products such as property-casualty, life, accident-health, and annuities.
  • Contact businesses to attempt to establish an AFLAC account as part of their benefits package.
  • Provide information on life and health insurance, medicare supplements, annuities , 401K rollovers and IRA's.
  • Facilitate communications between doctors, hospitals, third party insurance companies and patients to obtain and verify patient billing information.
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Surety bond agent vs licensed insurance producer skills

Common surety bond agent skills
  • Surety, 39%
  • Bonds, 25%
  • Customer Service, 20%
  • Court Appearances, 9%
  • Court Dates, 7%
Common licensed insurance producer skills
  • Work Ethic, 51%
  • Lead Generation, 13%
  • Annuities, 8%
  • Customer Service, 6%
  • Insurance Sales, 6%
  • Auto Insurance, 3%