Insurance is one of many industries where its professionals may benefit from earning voluntary certifications. Besides allowing your company to provide more services to their clients, earning a certification may help you feel confident in your advice and actions daily.
An insurance certification is a designation for insurance professionals through which they show their advanced training in a specialty area. Before you can earn an insurance certification, you must have completed initial education courses. You should also have a passing grade on an exam.
In this article, we will explain various professional insurance certifications. These will advance your insurance career and facilitate growth. Through this guide, a light will shine on your path. It will guide you through selecting and obtaining the certifications that best align with your professional goals.
Insurance Certifications: Various Examples
A certification in insurance is a recognition given to insurance professionals to demonstrate their advanced training in a specific field. Obtaining an insurance certification normally entails completing initial education courses and clearing the test.
You might be required to attend continuing education courses to keep current on new industry information.
1. Certified Insurance Counselor (CIC)
This covers all areas of insurance. It covers personal, commercial, and life insurance. It is offered through The National Alliance.
This certification has been available for over 40 years and covers specific topics such as:
- commercial casualty
- commercial property
- agency management
It focuses on the practical application of insurance principles and is considered one of the most credible insurance designations available.
According to The National Alliance, professionals who earn their CIC designation earn 30% more than their peers. To obtain your CIC, you’ll have to pass the following five exams:
- Agency Management
- Personal Lines
- Commercial Casualty
- Commercial Property
- Life and Health
You’ll also need to complete annual updates to keep your designation current. But the CIC does set you up to pursue further designations, like the CRM.
You will need to grant several days of intense focus at a time to pass each exam, but you will walk away with practical skills that will empower you to give some of the best services available in the country to each of your clients.
Once you receive your designation, there are no more exams. However, you do need to complete a yearly update course to keep your designation current.
As a new CIC, you will see real rewards for your hard work. You become part of a community, expand our network, and become part of an elite squad of 31,5000 CICs in the U.S. And of course, you have the knowledge that you need to provide clients with the best service possible.
The CIC designation is a respected certification that insurance professionals can earn. It involves completing a series of courses and exams covering various aspects of insurance, risk management, and agency operations. CICs are well-equipped to provide in-depth advice to clients and businesses.
2. Certified Risk Manager (CRM)
This insurance certification is for those interested in aiding business clients.
It is offered by The National Alliance; this insurance certification requires the completion of five courses over 120 hours to learn how to prevent, reduce, avoid, and eliminate risks. Candidates may get a better understanding of policy and insurance language through this program.
A Certified Risk Manager is an expert in preventing, minimizing, and eliminating risk. This designation is offered by The National Alliance and includes over 80 hours of risk management coursework.
The course covers the following five areas of risk management:
- Analysis of Risk
- Control of Risk
- Financing of Risk
- Practice of Risk Management
- Principles of Risk Management
You’ll need at least two years of professional experience before you can begin the certification process, and you may find yourself better prepared for this specialization after completing your CIC.
To earn your CRM, you’ll need to finish the coursework and pass the corresponding exams within five years.
3. Certified WorkComp Adviser (CWCA)
This is one of many other insurance certifications. The Certified WorkComp Adviser program is for those interested in workers’ compensation insurance.
It is dutifully offered through The Institute of WorkComp Professionals. This certification program teaches candidates the following:
- how to help their clients lower their workers’ compensation insurance costs,
- establish safety committees
- and provide human resource advice to employees.
Before you can qualify, there must be at least one CWCA at your agency in good standing. The coursework will cover the following four categories:
- Understanding the Workers’ Comp Premium Audit
- Navigating the Experience Mod
- The Anatomy of a Claim
- Putting the Process into Action
4. Accredited Adviser In Insurance (AAI)
This is another example of insurance certifications. The Accredited Adviser in Insurance credential helps agents learn about:
- property and casualty lines,
- underwriting and customer services.
The program, offered through The Institutes, includes four classes for candidates to pass before earning their certificate.
It is important to note that the Accredited Advisor in Insurance program is similar to obtaining CIC; however, it is a bit more comprehensive.
Apart from being comprehensive, you won’t have to complete any annual updates. The certification is offered by The Institutes and takes between nine and 15 months to complete.
If you have a desire to eventually become a CPCU, receiving your AAI designation is a great place to start.
The AAI consists of coursework and exams in 3 areas, which are:
- Foundations of Insurance Production
- Multi-Lines Insurance Production
- Agency Operations and Sales
If you’re looking for a first step to continuing your education as an insurance professional, the AINS is a great place to start.
5. Certified Insurance Service Representative (CISR)
The topic of insurance certifications cannot be concluded without mentioning the Certified Insurance Service Representative designation.
It is offered through The National Alliance. Its role is to help insurance professionals learn risk management techniques for businesses and individuals. This certification may be an excellent choice for those who manage both commercial and personal life insurance accounts.
If you want to improve your customer service skills, then simply become a Certified Insurance Service Representative.
You will be taught how to offer outstanding account management and communicate clearly and effectively with your clients.
As a CISR, you’ll be trained to manage commercial, personal, and life insurance accounts. To complete the certification, you’ll need to complete any five of the nine available courses and pass the corresponding exams within three years
6. Certified WorkComp Specialist (CWCS)
The Certified WorkComp Specialist program is another choice for those who choose to specialize in workers’ compensation insurance. Through this IWCP program, candidates learn about experience modifiers, claims management, and audits. This certification provides a broader focus across multiple insurance disciplines and may allow agents to provide workers’ compensation education for both employers and employees.
Coursework covers premium audits, experience mods, putting the process into action, and the anatomy of claims. To pursue this certification, you’ll need to be at an agency with at least one current CWCA in good standing.
7. Chartered Property Casualty Underwriter (CPCU)
How can we forget about CPCU when discussing insurance certifications?
The Chartered Property Casualty Underwriter certification may be ideal for anyone who works for an insurance company rather than just insurance agents.
This program, offered through the Institutes, covers all areas of the underwriting process and helps candidates understand insurance accounting and legal issues in the industry.
To obtain your CPCU, you’ll start by going through the required coursework, which occurs in four phases:
- Core Courses (risk management, business operations, legal, finance)
- Concentration Courses (Commerical or Personal Track)
- Elective Course (big data analytics, cyber risk, claim handling, reinsurance, commercial underwriting)
- Ethics
A CPCU shows your peers and clients that you have specialized knowledge of the insurance industry. It’s a great choice if you want to grow your career by working with a carrier, third party, or in the fast-paced world of insurance.
The CPCU is a prestigious designation, and earning it will not come easily. It involves rigorous coursework and examinations, covering topics like risk management, insurance law, and underwriting
You’ll have to pass eight national exams on various insurance topics and agree to abide by a Code of Professional Ethics. It takes most people two to three years to earn their CPCU.
8. AINS (Associate in General Insurance)
This is a foundational certification that is a perfect entry point for general insurance knowledge and concepts. This certification focuses on general property and liability insurance for personal or commercial lines. Additionally, you can select one elective to specialize in while studying.
The training may be finished in around nine to fifteen months, providing a solid grounding in general insurance fundamentals. Obtaining your AINS certification is a crucial first step in learning other, more advanced credentials.
Why Get An Insurance Certification?
How important are insurance certifications?
Earning an insurance certification shows that you’re committed to learning and relearning the most important information and best practices in the industry. A certification can let clients know you’re an expert in your field, or you’re working on gaining the credentials to become an expert.
The coursework may help insurance agents better understand the nuances of risks and litigation in the industry to best serve their clients. After earning a certification, agents can choose to add their designation letters to the end of their names in email signatures, on business cards, and on professional networking websites.
Conclusion
When you obtain the appropriate insurance certifications, you will be able to learn new skills and capitalize on new business prospects. Most importantly, it demonstrates to your clients that you are devoted to professional development and providing them with the best service possible.
