This article was featured in Hey #Insurance Episode 9:
- Gain the knowledge you need to truly understand the overall Property Casualty Insurance Industry at a high level.
- Get access to membership in the CPCU Society both Locally and Nationally which will open up amazing networking opportunities with the leaders of our industry.
- Only 4% of our industry has achieved the CPCU, so it immediately puts you in the top echelon of the industry when it comes to education.
- It opens the door to promotions and new positions. Getting the interview for better positions becomes much easier with the highly respected CPCU letters next to your name.
- The average CPCU is 54 years old. With so many retirements happening in our industry, young CPCUs are in very high demand.
- Many of the local CPCU Society chapters are always looking for young talent for their board of directors giving you lots of opportunity to gain experience in a leadership role.
- At around $4,000 for the whole program, it’s much less costly than an MBA.
- Chances are your company will pay 100% of the cost of the program, pay for the trip to the Annual Meeting, and some even give bonuses for each test passed and/or when completing the program.
- It shows a real commitment to the industry which makes companies much more likely to take a risk on you and offer you a stretch assignment.
- The average CPCU makes 29% more than non-CPCUs with the same job title.
- Our very unscientific research found that a CPCU early in your career can be worth as much as million bucks!
Share this article with those at your company who would benefit from getting their CPCU! If this article inspires you to get going on CPCU let me know in the comments and I will personally call you to answer any questions you might have about the CPCU program! 😀
About Antonio Canas
Tony started in insurance in 2009 and immediately became a designation addict and shortly thereafter a proud insurance nerd. He has worked in claims, underwriting, finance and sales management, at 4 carriers, 6 cities and 5 states. Tony is passionate about insurance, technology and especially helping the insurance industry figure out how to retain and engage the younger generation of insurance professionals. Tony is a co-founder of InsNerds.com and a passionate speaker.
I have only been in insurance for just under four years, do you think it would be a good time to start going for this?
Hi Tracey. Thank you for your comment! The earlier the better. They won’t grant you your CPCU until you’ve had 2 years of experience, so you’re already qualified on that side. The earlier you do CPCU the more time you have to enjoy the career benefits of having it, so I’d recommend starting right away.
Very nice – Short and Sweet, as they say. # 5, is an eye-opener, thx!
Thank you for the comment, Oscar! Best of luck in testing!
I have absolutely no experience in insurance, but I am interested in the CPCU. Where should I start to get the two years experience before I start the CPCU?
You can start taking the tests while doing your two years of experience. Experience in any insurance agency or insurance carrier will count, there’s a ton of work out there.
Reading some other articles here I saw it was possible to complete the program within 12 months. Combining that with my employer’s one year minimum for them to pay for the program and the CPCU’s two years minimum it seems like starting at the one year mark in the insurance industry would be the ideal path. With that in mind is there anything you suggest doing in the meantime to prepare?
Robert-If your employer has a library, you might be able to borrow the books and start reading ahead of time. If they’ll sponsor any other education, like licensing or the Associate’s courses, I’d start on those. Barring those kinds of formal things, I’d say learn as much as you can about your company’s forms and processes that will help you understand insurance more broadly. If you can read the insurance forms and go through them with a mentor, that would help. Talk and think about risk characteristics of whatever you might be working on-this will really vary depending on your role.
I have been in the Insurance Servicing Industry for 2 years. Does that count towards experience?
Yes, it probably does.