How Much Do Insurance Sales Reps Make
Want to know how much do insurance sales reps make? Well, in a competitive and volatile industry, it all depends on how much you prospect and how much sales you make. If you are a captive agent then it depends on the company you work for and the number of clients you serve. However, if you are an independent agent then it all depends on how much prospects you can convert. With that said, you can take it to the next level with an AAI designation.
One of the most reputed and exceptional designations for insurance producers to skyrocket their career. AAI Designation helps to set up a clear professional advantage and fulfill the dedication to providing a top-notch customer service. AAI also assists insurance professionals to showcase professional ability and groom them in front of insurance carrier to present and future goals. An advantage of this course is to motivate insurance professionals, also make them stand out in resumes.
What is an AAI Designation?
According to Brian Francis ARM, AAI, AIS, President at Property and Casualty Solution, “The AAI program is an authoritative educational source that provides significant insight into the business, law, finance, marketing, sales, insurance coverages, and insurance agency operations. It is a requisite to meet the knowledge demands of our profession and the risk management needs of our customers.” In addition, it is a credential earned after a course of study and a series of examinations. As well as, insurance producers opening an independent insurance brokerage can earn this professional designation to exhibit greater knowledge of their field, and a greater attention on customer service comparing to average agents.
How much do insurance sales reps make?
The facts acquired from the AAI designation can help insurance producers selling insurance provide better service and recommendations to all consumers. So, becoming an advisor with this designation can be helpful for those with complicated insurance needs. Also, an insurance sales rep on an average makes about $48,150 to $116,940 annually. However with an AAI designation you can earn as much as the top 10% in the industry.
Originally, the Insurance Institute of America and the Independent Insurance Agents and Brokers of America collaborated to form AAI designation. Also, the Institutes Risk & Insurance Knowledge Group runs many courses including this program. Additionally, it provides information on risk-management and property and casualty insurance. In order to achieve this marvelous AAI designation Georgia label, Institute’s education requirements and various exams should be completed.
Qualifications required for AAI Designation and making more as insurance sales rep
In order to finish this program, you need to finish three foundation courses and pass a series of exams. It will take around 9-15 months to complete it. Besides, insurance professionals in an insurance agent brokerage firm should meet ethical conditions by finishing the 50-points Ethical Guidelines for Insurance Professionals. In addition, the three courses in the AAI are as follows:
AA1 81 Module:
- The insurance business: an overview
- Risk Management
- Life Insurance
- Homeowners Insurance
- Account Development
AAI 82 Module:
- Commercial crime insurance
- Surety bonds
- Excess and umbrella liability insurance
- Business owners and farm insurance
- Commercial liability insurance
- Commercial auto insurance
AAI 83 Module:
- Ethics and professionalism
- Producer-insurer relations
- Client service management
- Market segmentation and product targeting
- Personal production planning
- Sales management principles
If becoming an independent insurance agent is on your list, then adding AAI designation can be a huge bonus. AAI designation Georgia gives valuable tips on marketing and explains policies and coverages in detail. Also, it helps merge technical knowledge such as cyber security insurance coverages with sales skills and applies them to real life situations. Therefore, it is a well-acknowledged designation to add for an insurance producer’s skill. As a safety net you should get an e & o insurance policy for your professional liability.