Both employers and employees benefit from investment in learning

Insurance is one of the fastest changing, most regulated industries in America. That very nature insists that those who want to excel in their current responsibilities and pursue their career goals must include education in their plans.

As agents, adjusters, risk managers or managing general agents, we start our career path with intensive study, followed by the licensing exam that legally qualifies us to practice this business. Practice this business. Even the most common terminology reminds us that perfection will be ever elusive. As professionals, we must continue to build our knowledge base just to be eligible to play the game. If we want to play it well and be the best we can, education is critical.

Some of us, including myself, have a natural thirst for knowledge. But if my employers didn’t share my belief in the importance of education, my pursuit would be much slower. The institutions that provide continuing education do not do so out of the kindness of their hearts. They are in business to make a profit while providing a much-needed service to the community. To make a profit, they must charge a fair price for the classes and information they provide. The costs involved in continuing education can be prohibitive for employees who have to pay their own way. Employers may have the resources to pay for books, classes and exams that are a prerequisite of advanced learning. But they must also share the commitment the student has and subscribe to the value and necessity for educated employees in their workplace.

By supporting and encouraging employees’ professional development, an employer demonstrates that skill, experience and knowledge are important parts of the job. In theory, a producer hired 20 years ago could still continue to sell insurance today, but he will be infinitely more successful if he has taken advantage of opportunities to continue his education over the years. Policies change, laws change, and sales skills are developed and enhanced. Perhaps most important — consumers are more sophisticated and knowledgeable today. They are becoming more informed about their choices and realize the benefit that insurance may provide them in determining their overall risk management — business and personal.

An educated agent is an integral part of that process. In addition to playing a much-needed role for their clients, a seasoned agent can provide education to newcomers to our industry. But, the most seasoned veteran will be of no benefit as a mentor if she does not continue to learn and stay current with industry trends.

Some people may think that continuing education is a waste of time — they may think, “I’ve been doing this for so long, I already know it all. I’ve already taken this class three times, what more could I possibly learn?”

In 13 years of learning insurance, I’ve had to repeat certain classes to maintain one of my designations (usually around the time of my birthday each year). I have never once left a class or finished a book, thinking—”What a total waste of time.” I have learned something in every one — even the repeats gave me new information because of changing forms, recent local, national and global events, or new regulation from the government.

To keep our licenses, we must obtain 30 hours of continuing education every two years. Hopefully, our employers will encourage our professional development by recommending we venture outside our daily area of responsibility and take different classes. Up until this year, my experience has always been in commercial lines, but I’ve taken classes on personal lines, risk management, life and health, and financial planning. I am grateful now because I find myself needing many of those things I learned — things I thought at the time I would never use.

If we are lucky enough to have an employer that supports all of our professional efforts, not only will we benefit from the financial bankrolling of our education, the employer will benefit by having a more knowledgeable employee. That will result in educated consumers, improved relationships and increased account and premium retention.

Sophisticated consumers realize the benefit that a knowledgeable agent brings to their insurance program and places a value on that beyond the policy premium. And that’s the ultimate goal — recognition of our dedication to doing the best we can for our customers.

Keri Morris is vice president of operations for LegacyTexas Insurance Services Inc. She was named 2004 Texas Outstanding CSR of the Year by the National Alliance for Insurance Education & Research.