Which one carries more weight with regards to credibility in the Property & Casualty insurance industry? And is there a suggested time frame to go after it (i.e. 1 year or 2 years of experience)? I currently work for a transportation insurance agency and have only worked in the insurance industry for about 4 months now, but I was in the transportation industry for about 3 years.
Do you think that it would matter if I went after these designations now or waited? I don't want to waste anytime, but a few have told me that it may be best to wait a few years...I am not married yet...nor do I have a family...so I wanted to knock a few of these designations out before that happened, and then go after my CPCU...
Any suggestions?
Thank you in advance for your help!!
2007-09-25 07:25:42 · 4 answers · asked by Sid 1 in Business & Finance ➔ Insurance
I don't think it matters much.
2007-09-25 09:53:09 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
I would start working on the CIC sooner than later. As a licensed agent, you will need your continuing education credits, and each one is worth 20 CE (whether you pass the test or not). I know people that have been in the industry for decades and have failed CIC tests while others new to the industry passed on their first try. They teach you what you need to know during the 3.5 days and test you on only that material and nothing more.
Don't get me wrong, the tests are not easy. All essay/short answers and you have to explain every answer; guesses will only get you a partial credit (like 1 out of 6 points).
I was a commercial underwriter for 7 years and passed my personal lines CIC the first time. I studied like mad during that half week and was exhausted after the exam, but it felt good.
About the ARM, I have little experience. I know that it is put out by the AICPCU organization but have never gone down that path. There are classes you can take to help you prepare for the exam (which I have heard is comparable to the CIC exam). I have seen more people on the company side with this designation.
Either way, a professional designation is a great way to get your CE taken care of and to show a commitment to the industry.
Good luck and study hard which ever way you go.
2007-09-25 14:00:11 · answer #2 · answered by JJ 5 · 0⤊ 0⤋
Associate In Risk Management Arm
2016-10-19 11:43:46 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Depends on what you are and will be doing. If you are in sales...customer contacts and consulting then CIC...definitely.
In fact more agents and company sales people are striving for the CIC rather than the CPCU. They are close in scope and credibility.
The ARM designation in my opinion are for those who do more inside managing of a particular risk or business that they are employed at. Since you are in the transportation arena and deal with a client base ...shoot for the CIC.
The CPCU is heavy but if you get the CIC which I recommend then that is all you need. I would not wait since the class time and multiple exams take a couple years.
I know a person who had 10 different designations but could not sell himself out of a paper bag. Take it from There.
2007-09-25 11:27:40 · answer #4 · answered by DFK 3 · 0⤊ 0⤋