Every day we ask readers for their thoughts on different insurance-related questions. Here are some of the more interesting answers we’ve received recently:
How should the insurance licensing system change for the 21st century?
In my opinion the system needs a complete re-haul. I have been a licensed P&C adjuster for about 25 years.
Specific to the actual license itself – It is expensive and time consuming to keep up with all of the various states rules and regulations, but don’t believe that will happen in my lifetime, as the State’s make a lot of money from their own insurance license rules and regulations. It is a big business.
But there are some things that urgently need correction. The biggest example is when transferring a Resident P&C License (individual license) from one state to another (in my case California to Texas. There is a period (about 6-12 weeks) in which you actually have to forfeit your Resident P&C License before it takes effect in the new State. Assuming, that you have never had license problems, and continuing education credits are current, you should never have a “gap of license” When asking the State Board of Insurance for advice during that 6-12 weeks, you don’t get any meaningful answer, other than a response of “you could be at risk”.
Really not a good practice for those that are dedicated to the profession.
One license for all 50 states!
Is it possible to go from entry-level insurance pro to six figures in 3 years? If so how?
Yes. Unique targeting of audience and tailoring of marketing of policies to that audience. Become a go-to; become indispensable; become more than transactional to your clients.
HARD WORK. Relationships. HARD WORK. Value. HARD WORK. The end.