Insurance Agent Designations – A Guide for New and Experienced Insurance Professionals

Property and Casualty Insurance Designations

There are designations amongst all categories of insurance and financial professionals, and property and casualty insurance agents are no exception. Although the general public may not pay much attention to the letters after an insurance agent’s name, it’s a good idea to learn what the most common designation acronyms stand for. Since these designations indicate a particular area of insurance where an agent is especially knowledgeable, it can help future policyholders determine which agent is most capable of understanding and meeting their insurance needs.

Most Common Designations

There are currently dozens of different designations that a licensed insurance agent can receive and more are being created every year. However, some are more common than others. Below, you will see some of the most popular agent designations and what they entail.

• CIC – Certified Insurance Counselor
  This is one of the most popular designations, as it has been around for forty years. Not limited to just home and auto insurance, the CIC designation also covers commercial casualty and commercial property insurance, life and health insurance, and agency management.
• CRM – Certified Risk Manager
  Agents with this designation completed a course with a focus on analyzing, financing, controlling, identifying, and managing risks for organizations.
• ARM – Associate in Risk Management
  As indicated by the name, ARM agents have a focus on risk management and may be able to identify and evaluate loss exposures more easily than an agent without this designation.
• AINS – Associate In General Insurance
  This designation is becoming increasingly popular with agents since it offers three exam options and a range of flexibility. However, the focus of this course of study is to increase knowledge on standard property and liability insurance for both personal and commercial lines of insurance.
• AAI – Accredited Advisor in Insurance
  An agent with the AAI designation has completed a course with a focus on all facets of the Property and Casualty insurance industry. Unlike the aforementioned designations, an AAI course is extremely comprehensive as it covers underwriting and customer service in addition to most other aspects of Property and Casualty lines. This designation was created to give agency personnel a competitive edge in the P&C market.
• PLCS – Personal Lines Coverage Specialist
  While some designations are created for more seasoned agents, the PLCS designation is designed for insurance agents who haven’t been in the industry for long. This course strives to achieve mastery of all key topics pertaining to personal insurance lines such as auto or homeowners insurance.

Additional Designations to Consider

The most common agent designations tend to be popular because they cover a wide range of subjects. However, it isn’t uncommon for an insurance producer to choose a course that will distinguish him or her by gaining knowledge on a particular niche subject.

• CISR – Certified Insurance Service Representative
  An insurance producer with this designation is specially equipped to minimize risks and exposure to E&O claims (Errors and Omissions).
• AIS – Associate in Insurance Services
  Unlike other designations which tend to focus on a particular section of writing property and casualty insurance, this designation trains agents on various aspects of customer service. Agents with an AIS may also have learned strategies for continuous improvement of their agency.
• AIC – Associate in Claims
  This designation grants an agent knowledge of the technical aspects of claim handling as well as how to negotiate.

Life Insurance Designations

Many designations held by agents with life and health insurance are the same as those held by financial professionals since the two industries tend to have some overlap. End-of-life planning often means investing in financial products as well as life insurance, so a large portion of life insurance agents is equipped to offer both.

Most Common Designations

• CLU – Chartered Life Underwriter
  With this designation, an agent has a special insight into how life insurance pertains to the economy, the operation and distribution systems of life insurance, and how to make safe and secure investments.
• LUTCF – Life Underwriter Training Council Fellow
  Now defunct, having been replaced by the FSCP designation, a LUTCF was previously a highly sought-after designation as it was rumored to increase agent earnings by forty percent. The LUTCF course combined product knowledge with planning concepts to help agents maximize their sales.
• CFP – Certified Financial Planner
  Granted to both those in the financial industry as well as life insurance professionals, the CFP must complete their course, meet ethics requirements, and pay ongoing fees related to the insurance agent certifications.

Health Insurance Designations

Thanks to the Affordable Care Act and the health insurance marketplace, there are several new health insurance-related designations available to health insurance brokers. This is good news for agents and policyholders alike since these courses seek to further educate agents on the ever-evolving health insurance market.

Most Common Designations

• RHU – Registered Health Underwriter
  One of the more comprehensive designations, insurance producers who have completed this course will have a broad knowledge of multiple aspects of the health insurance industry including but not limited to Medicare, Medicaid, managed care plans, individual and group medical, and group dental and voluntary benefits plans.
• FHIAS – Professional, Health Insurance Advanced Studies
  For seasoned insurance agents, the FHIAS designation may be appropriate. After completing the PHIAS (Professional, Health Insurance Advanced Studies) course, individuals may further their studies to gain an in-depth knowledge of healthcare products like long-term care, dental, Medicare, and disability.
• PAHM – Professional, Academy for Healthcare Management
  PAHM designation is designed to cover the basic elements of health insurance plans as well as their functions. This will help students better understand products, health insurance providers, Medicare Advantage plans, and operational issues.
• ChHC – Chartered Healthcare Consultant
  Agents looking to further their ability to counsel their clients may choose to obtain a ChHC designation. With the completion of this course, agents will be better equipped to assist individuals and businesses who are considering their health insurance options.
• HCSA – Healthcare Customer Service Associate
  This designation offers practical studies with proven strategies for managing customer service staff, and resolving customer service issues.
• HIA – Health Insurance Associate
  One of the most popular health insurance-related designations, this course covers a vast array of topics including coverage evaluation, underwriting, contracts, cost management, claims administration, government regulation, and fraud.

Additional Designations to Consider

• HCP – Healthcare Compliance Professional
  Not available to just anyone, agents seeking this designation must hold a position that requires them to manage regulatory requirements set forth by the Affordable Care Act.
• FLHC – Fellow, Life and Health Claims
  Experienced claims agents may choose to further their expertise in the field by obtaining the FLHC designation, which will provide them with a thorough understanding of how to claim administration works in relation to group and individual coverages.
• GBA – Group Benefits Associate
  Providing a focus on group health care and benefits, coursework for this designation covers various aspects of employee benefits related to healthcare and welfare.
• MHP – Managed Healthcare Professional
  Agents who are seeking or currently hold a management position in health insurance is eligible to pursue the MHP designation. Doing so will help these individuals learn more about the organizational makeup and management roles of managed care.

Business and Commercial Insurance Designations

Although commercial insurance is part of the Property and Casualty insurance classification, it has a distinct set of products and risks that are unique to this line of insurance. As such, there are designations created to help further the knowledge of agents who specialize in or frequently write commercial and business lines of insurance.

Most Common Designations

• CPCU – Chartered Property Casualty Underwriter
  This designation helps agents further their knowledge in the field of commercial insurance by covering a broad range of subjects pertaining to business insurance.
• CLCS – Commercial Lines Coverage Specialist
  Although some seasoned agents may pursue this designation, it was created for producers who are new to the industry. This is a comprehensive program that covers many aspects of writing commercial lines.

Most business professionals want to do whatever is necessary to be successful. In the insurance industry, this is especially true since there is a wide range of designations to help agents further their knowledge of their products, their business, and the risks their clients are exposed to. Although some agents may spend the time and money on a designation simply for bragging rights or because it looks good on a business card, the majority of agents obtain designations to become better insurance producers. With a little research, policyholders can find the right insurance agent for their needs by doing a little digging to find what, if any, designations their agent currently holds.