¾ÅÉ«

The Pennsylvania Insurance Department (PID) is touting its success in growing the insurance agent workforce in the state.

Over the last three years, the state has made entry for new insurance agents into the insurance industry faster, while also encouraging a new generation of individuals to consider a career in insurance, PID says.

In 2023, the state eliminated various licensing fees and reduced agent application review times from 20 days to under eight days. PID claims that since this streamlining of credentialing for those seeking a career in insurance, 33,000 qualified licensees have joined the workforce.

The following year, PID worked with the General Assembly on to remove pre-licensing education requirements for first-time insurance agent applicants. PID says this also removed financial barriers for future agents.

“PID remains committed to encouraging careers in insurance and smoothing entry points into the insurance workforce,” said Pennsylvania Insurance Commissioner Michael Humphreys. “Slashing application wait-times and removing licensing fees have allowed the industry to gain thousands of trusted insurance agents that are ready and willing to assist Pennsylvanians with their insurance needs.”

Before the process changes began in 2023, there were about 365,000 insurance producers in the state. At the end of 2023, an additional 8,000 licensees joined the industry, bringing the state-wide total to 373,000 licensed agents. Since then, 25,000 additional licenses were issued – for a total of about 398,000 licensed insurance professionals.

PID’s also says its invests in the future workforce by partnering with several Pennsylvania colleges and universities to provide a hands-on learning program that introduces college students to potential careers in insurance. In the last three years, PID has connected with hundreds of students majoring in actuarial science, risk management and criminal justice.

Topics Agencies Pennsylvania