Types of insurance education

InsAgentSF · Post by **InsAgentSF** » Fri May 05, 2006 2:56 am

It's kind of stupid question, but i will ask it anyway. What type of insurance education or license is considered the most valuable. For example I am a P/C licensed and will be L/H licensed but I think there is much more to it and i can get a more rognizable title then just Insurance Producer. Thanks

bindscott · Post by **bindscott** » Fri May 05, 2006 8:45 am

How about some designations? I like the following two:

CPCU (Chartered Property & Casualty Underwriter) is good if you plan on being on the company side or management position of any insurance related career.
Website: http://www.cpcusociety.org

CIC (Certified Insurance Counselor) is excellent if you plan to saty on the retail side and focus on management and marketing.
Check out: http://www.scic.com

Just remember that if and when you do receive your designation(s), it is possible that your E & O premium might increase slightly a bit due to higher standards and expectations.

scott · Post by **scott** » Fri May 05, 2006 9:21 am

If you're on the P&C side CPCU or ARM is a must. Mid market and large account buyers recognize it as a commitment to the business. Underwriters and other insurance people see both as accomplishments.

On the life side CLU, CFP etc. is similar in respect.

CIC has good content and is a quick hit for the classes. It is not widely recognized by clients (in my opinion). I know little about the CRM designation (same people that put out CIC, I believe).

The other side of this... you have to do continuing ed anyway. You might as well get all the value you can from your education.

Victoria860 · Post by **Victoria860** » Fri May 05, 2006 10:47 am

Any suggestions on taking the classes? Is a lecture class better than self study for the CPCU. I would like to start working on my CPCU and have thought of on-line courses since I also attend college part time as well.

And on another note, how important is a business degree to the industry? I've been working in insurance for 8 years so I have the experience. Just curious.

Thanks for your help!

independent guy · Post by **independent guy** » Fri May 05, 2006 11:03 am

Victoria860 wrote:Any suggestions on taking the classes? Is a lecture class better than self study for the CPCU. I would like to start working on my CPCU and have thought of on-line courses since I also attend college part time as well.

And on another note, how important is a business degree to the industry? I've been working in insurance for 8 years so I have the experience. Just curious.

Thanks for your help!

I'm halfway through the CPCU program, and I wouldn't spend my money on online classes. I do just fine with their "SMART" study materials. I'm also taking college courses online though, and the university accepts the CPCU program as credit. In the end my business degree will be in "Risk Management and Insurance".

I would think that having a business degree is fairly important in this business. Particularly if you're going to work at the home office. However, for sales people and sales trainers, a psych degree might be equally beneficial.

independent guy · Post by **independent guy** » Fri May 05, 2006 11:06 am

bindscott wrote:Just remember that if and when you do receive your designation(s), it is possible that your E & O premium might increase slightly a bit due to higher standards and expectations.

Do you mean lower?

One other thing that hasn't been mentioned, is that there are now "insurance producer schools" being held around the US. They're very expensive, and geared at beginners. You'd want to have someone you know would stick around if you're going to pay the money they want at the schools.

sanddog1 · Post by **sanddog1** » Fri May 05, 2006 11:23 am

CIC is the very best for Brokers/Agent involved with P&C. CPCU is really for the teacher not the Doer's (Producer). When I'm dealing with and underwriter and they know I'm CIC certified it's amazing how submission just flow.

E&S Man · Post by **E&S Man** » Fri May 05, 2006 2:02 pm

I'm a P&C Underwriter. Honestly, when I deal with an agent, I don't care what initials they have behind their name. An idiot is an idiot, and a good agent/CSR is a good agent/CSR, regardless of what designations they have.

Do your job, do it well, and send me a good submission, and I promise you what you get from me will be really nice.

At the end of the day, we're all very busy. The amount of effort I put into the quote I give you is directly related to the quality of the submission I receive from you.

InsAgentSF · Post by **InsAgentSF** » Fri May 05, 2006 2:18 pm

Thank you all for the input. I just feel, that if i chose this profession I have to educate myself and grow individually

sanddog1 · Post by **sanddog1** » Fri May 05, 2006 3:06 pm

E&S Man, I respectfully disagree. Yes in your profession that may be true. When dealing with higher end companies like Allied or Safeco, The Hartford or Travelers and especially the middle markets you need to have a CIC or better. They will ask one time

independent guy · Post by **independent guy** » Sat May 06, 2006 6:02 am

E&S Man wrote:I'm a P&C Underwriter. Honestly, when I deal with an agent, I don't care what initials they have behind their name. An idiot is an idiot, and a good agent/CSR is a good agent/CSR, regardless of what designations they have.

Do your job, do it well, and send me a good submission, and I promise you what you get from me will be really nice.

At the end of the day, we're all very busy. The amount of effort I put into the quote I give you is directly related to the quality of the submission I receive from you.

You sound like an exception to me. My personal lines underwriter and I are competing to complete the CPCU program. Both of us plan on going to the Hawaii conferment in 2007, but whoever is last to complete it gets to pay for the drinks! Both of our main preferred carriers really push the CPCU program, and now that I've taken some of the courses, I certainly understand why. However, I also understand what you mean by "an idiot is an idiot". How many idiots with the CPCU designation have you ran into though? I've yet to meet a single one...

InsAgentSF · Post by **InsAgentSF** » Sat May 06, 2006 5:00 pm

What does it take to complete CPCU? Cost wise? and Time wise?

bindscott · Post by **bindscott** » Sun May 07, 2006 10:49 pm

InsAgentSF

Visit http://www.aicpcu.org
It will give you full details

Joke of the day:
Question - What does CPCU stand for?
Answer: Can't Produce and Can't Underwrite

I'm just kidding.

I have tremendous respect for CPCU's

InsAgentSF · Post by **InsAgentSF** » Mon May 08, 2006 12:20 am

LOL. Thanks!

E&S Man · Post by **E&S Man** » Mon May 08, 2006 11:39 am

I might have been misunderstood.

CPCU, ARM, CIC, ACSR, etc. are all worthy designations, and obtaining them should be encouraged.

I can say that I've never met a CPCU that wasn't top notch.

ACSR and CIC are a little easier to obtain, and I've met a few that are a little suspect, but that's a story for another day.

I would definitely never discourage anyone from doing anything to further themselves.

Heck, I have a Bachelors in Risk Managament and Insurance.

As an underwriter, probably the most important thing you can do is to read policy forms. Know your product backwards and forwards, then obtain copies of your competitors forms and doe the same with them. Your agents will help you get the copies. Once you know what you have and what else is out there, you can help your agent point out the differences to the insured.

Types of insurance education

Types of insurance education

Trying to Earn the Designations

Re: Trying to Earn the Designations