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About us ... American
Education Systems L.C. (AES) offers online, self-study, and seminar
courses for the busy professional. Current AES offerings include
courses in insurance (Life, Accident & Health and Property &
Casualty lines), banking, NASD securities, real estate, and sales
training. AES courses can qualify for mandatory continuing
education, pre-licensing, and professional staff development. As a
leading provider of educational materials to the professional insurance
and financial services community, AES
is committed to help businesses and individuals reach their maximum
potential. We look forward to helping your business
"Helping professionals succeed since 1994"
Employment in the insurance industry? What you find may just surprise you!
American’s work in this trillion-dollar industry. Working in
insurance means assisting companies and individuals in guarding
themselves against loss. Risk management is central to this work.
As an insurance professional, you will guide customers in identifying
the type, and level of insurance necessary, and help them purchase the
correct policy. Positions in the insurance agency include sales
representative, underwriter, customer service representative, asset
manager, or actuary.Those in the insurance business can expect stimulating, lucrative environment!
- What would I be selling?The
three most common types of insurance are property and casualty (for
automobiles, homes, and businesses), health insurance, and life
insurance. Insurance agents need a license in order to start their career -- and we can help you with that! Learn more about licensing here.
- Hey -- Insurance is not just about selling!
are quite a few people weary of an insurance career because they think
they have to be an aggressive sales person. Of course, sales is a
necessary ingredient, however insurance is a service everyone needs.
Besides, most positions do not require straight sales.
A variety of career paths are available to you!
Here are a few of the possible careers in the insurance industry:
Job prospects and earnings
- Agent and Broker
Brokers and agents sell insurance policies to individuals and companies
that want to guard their assets against liability. In the event of a
fire, injury, or accident, customers call their agents; therefore
agents must have a detailed knowledge of policies and their
limitations. Those who are familiar with business practices and
comfortable talking with all types of customers can make a good living
working an adjustable schedule in the insurance industry.
- Service Representatives
Because of their function as a go between insurance companies and
insurance agents, service representatives must have excellent
communication skills and a detailed understanding of insurance
products. A successful representative is good at building relationships
with agents and company representatives. A General liberal arts
education provides a solid foundation for a career as a service
- Claims Adjuster
When a customer has had an accident, been injured, or been through a
loss, adjusters help determine a fair settlement between all involved.
A successful claims adjuster must have excellent communication and
negotiation skills and should be able to arbitrate with grace and
empathy. Adjusters spend time in the field, as well as behind a desk.
When a person applies for a policy, it is an underwriter who determines
whether that person is worth the risk of insuring. By assessing how
much risk a person represents, underwriters ensure that all
policyholders fit the company’s requirements. In addition,
underwriters often help determine policy pricing.
Employment is expected to increase...
of insurance sales agents is expected to increase by 12 percent over
the 2008–18 period, which is about as fast as average for all
occupations. Future demand for insurance sales agents depends largely
on the variety of financial products and volume of sales. Sales of
health insurance, long-term-care insurance, and other comprehensive
financial planning services designed specifically for the elderly are
expected to rise sharply as the population ages. In addition, a growing
population will increase demand for insurance for automobiles, homes,
and high-priced valuables and equipment. As new businesses emerge and
existing firms expand their insurance coverage, sales of commercial
insurance also should increase, including coverage such as product
liability, workers' compensation, employee benefits, and pollution
Compensation is competitive ...
The median annual
wages of wage and salary insurance sales agents were $45,430 in May
2008. The middle 50 percent earned between $33,070 and $68,730. The
lowest 10 percent had earnings of $26,120 or less, while the highest 10
percent earned more than $113,930. Median annual wages in May 2008 in
the two industries employing the largest number of insurance sales
agents were $48,150 for insurance carriers, and $44,450 for agencies,
brokerages, and other insurance related activities.
agents are paid by commission only, whereas sales workers who are
employees of an agency or an insurance carrier may be paid in one of
three ways: salary only, salary plus commission, or salary plus bonus.
In general, commissions are the most common form of compensation,
especially for experienced agents. The amount of the commission depends
on the type and amount of insurance sold and on whether the transaction
is a new policy or a renewal. Bonuses usually are awarded when agents
meet their sales goals or when an agency meets its profit goals. Some
agents involved with financial planning receive a fee for their
services, rather than a commission.
benefits to insurance sales agents usually include continuing
education, training to qualify for licensing, group insurance plans,
office space, and clerical support services. Some companies also may
pay for automobile and transportation expenses, attendance at
conventions and meetings, promotion and marketing expenses, and
retirement plans. Independent agents working for insurance agencies
receive fewer benefits, but their commissions may be higher to help
them pay for marketing and other expenses.
To begin your career in insurance, you will need to get licensed. You can do that here.