Just Got my License. What to Do to Get Ahead in this Industry.

[NYCINSURANCE]

Hello everyone. I just got my P&C License. I have 4 years of experience working in agency mainly focused on personal lines. I want to know what it would take to be as successful as possible in the insurance industry. I am 22 years old and I do not have a college degree. If I obtain designations such as CPCU is not having a college degree still going to hold me back? Do designations have any vallue on the agency side of this business at all?


What should my next step be as far as which designation to go after and career path to take. Should I go after Personal lines coverage and Commercial lines coverage specialist 1st before pursuing CPCU? Or go straight after CPCU? Also is college something I need to consider so it won't hold me back at some point down the road?

 

[DHK]

I'm on the life & health side of the business, but I doubt there is any material difference here.

Let me address college: I don't have a 4-year degree. There are only three reasons I may consider getting a bachelor's degree:
1) If I ever want to have the CFP designation (they require a 4-year degree)
2) If I ever want to pursue the MSFS masters degree from The American College.
3) Just because I want to and to be an example to my children.

The only reason I could see the lack of a 4-year degree being a hindrance in this business, is if you want to have a corporate job in a home office somewhere.


As far as designations, I hold the ChFC designation. And I'm glad I did it. I think you'll be glad to take CPCU courses to make you into a better agent. If you decide to go down that path, I highly recommend the study materials from "BigDaddyU". I used Scott Wasserman's DVD lectures to help me study for the ChFC exams and I found them GREAT. I think they'll be equally valuable to you for the CPCU.

BigDaddy University - Home - Providing CLU, ChFC, & CASL Study Materials

But aside from that, success in this business is about prospecting and converting your prospects into clients. It's also about having efficient business and client management systems. I'd look into these areas to help you grow your revenues and commissions.

 

[ncagent83]

Having a four year degree is an absolute must on the corporate side but not necessarily on the agency side. Some agencies require a four year degree but it just depends on what you're doing and where you're at.

If I were you, I'd pursue the CIC designation. It's much more practical for the agency side and it looks good. CPCU focuses more on theory instead of practicality and fits more on the underwriting/corporate side of the industry.

 

[NYCINSURANCE]

What degree would be most helpful for big corporate jobs in the industry?

 

[DHK]

Finance, Risk Management, Economics, Mathematics, Accounting, etc.

 

[AssociatePI.com]

Start the CPCU as soon as possible. It's a long tedious process (The CPCU designation is 8 exams) but it's worth it, especially when you're just starting out. I came into the property casualty industry knowing absolutely nothing about insurance. The CPCU taught me everything from basic risk management, to underwriting considerations and every minor detail about the personal insurance product (I chose the PI CPCU path). I learned a lot about my role at the company through on the job training by I, without a doubt, got the most insurance knowledge by studying for the CPCU. Here's a few tips about who should pursue the CPCU designation and how it can help improve an agency

You should also checkout the Associate in Personal Insurance designation, it's only three exams and two of the exams count towards your CPCU. It's a great starter designation as you begin to get your feet wet with a ton of great info about the personal insurance product not to mention the API designation can really help to improve your sales pitch