Experienced insurance brokers know that in today’s highly competitive and constantly evolving business environment, it’s no longer enough to be a licensed broker. While it is entirely possible to run a brokering business with a license alone, achieving long-term success and growth is more challenging without additional insurance certifications.
One of the many insurance certifications that can help you thrive is that of the Certified Insurance Counselor (CIC). In this article, we’ll focus on how to earn CIC designation. We'll discuss where and how to get training, how much the certification costs to obtain and maintain, and more.
Certified Insurance Counselor is a designation that can be earned from the Risk & Insurance Education Alliance, formerly National Alliance for Insurance Education & Research. First introduced in 1969, the CIC title remains a well-regarded certification in the US insurance industry.
This certification is designed for both insurance agents and brokers and other insurance professionals. These include:
The CIC program can be particularly useful for insurance professionals with at least two years of full-time insurance or risk management experience.
As a CIC, you demonstrate that you have advanced knowledge and expertise and a commitment to continuing professional development.
If you want to obtain this certification, it helps to know what the educational and professional prerequisites are.
Those aspiring to become a Certified Insurance Counselor will be pleased to know that there are no formal educational requirements to pursue the title. While you don’t need a college degree, it can be beneficial to take courses that teach you the fundamentals of insurance.
It is also not required for applicants to have professional experience. It is recommended, however, that aspirants have at least two years of experience in insurance or risk management. This professional experience can give you the foundational knowledge needed to do the coursework and pass the Certified Insurance Counselor exams.
While an insurance broker or insurance agent license is not required, most successful CIC candidates are licensed insurance brokers, agents, or adjusters. Full-time insurance faculty members who have taught for at least two years at an accredited college or university can also apply for the designation. You can also be an insurance consultant with a state license to practice and still obtain the Certified Insurance Counselor designation.
But if getting licensed is important for your chosen career path, you can look up our entire section containing different licensing guides. You can even find useful articles on what licenses you need to start an insurance business if that’s what you need.
The process of earning this title involves completing certain steps:
While this is not a strict requirement, many experienced insurance professionals suggest that CIC candidates should have at least a couple of years’ worth of work experience. This can provide you with a good understanding of basic insurance principles and be familiar with the nuances of crafting policies.
Industry knowledge and experience can make it easier to do coursework and pass exams.
Next, visit the official website of the Risk & Insurance Education Alliance. You can register with them or choose an authorized provider in your state.
On the website, create an account and choose your preferred course format. This can be online instructor-led, in-person, or self-paced online courses.
Once you are registered, choose the relevant courses for the area that you want to specialize in. These are your choices:
To earn the CIC designation, you can take five of the seven courses or take four CIC courses and one Certified Risk Manager (CRM) or Certified Personal Risk Manager (CPRM) course.
Each of these courses consists of about 16 hours of instruction and covers specific insurance topics.
Each course includes a corresponding exam that candidates must pass. Each exam typically consists of an essay-style or multiple-choice exam with a two-hour time limit. To pass, a candidate must score 70 percent or higher.
After completing the courses and passing the exams, you may then be awarded the CIC designation.
While no further exams are required after earning the CIC designation, ongoing education is still required to maintain its status. To ensure that your CIC status stays active, you must complete an approved annual update course, commonly known as continuing education or CE course. You will also need to pay an annual fee.
The Certified Insurance Counselor exam is considered challenging. However, insurance professionals with some experience working full-time in insurance or risk management will find it manageable.
Here is a breakdown of the core courses and their underlying topics that you will need to study for the exams:
The CIC program is divided into five institutes. Each of these courses entails 20 hours of instruction, whether in-person, online instructor-led, or self-paced courses. To earn the Certified Insurance Counselor title, candidates are required to:
Each of these exams consists of about 17 to 21 questions that are worth as much as 200 points.
Candidates who have accumulated at least two years of full-time insurance or risk management experience before attempting the program are more likely to succeed. Their substantial experience and knowledge from their actual insurance practice can prove invaluable in choosing the right answers or writing the correct answers in the essay exam formats.
Typically, each CIC course can cost between $420 and $475. Candidates must complete five courses and pass their corresponding exams, so this can cost between $2,100 and $2,375.
There may also be minor additional costs for materials or exam fees, depending on the provider and chosen format for the courses. After earning the title, CICs must fulfill the annual update requirements (CE) and pay annual dues. Costs can be broken down as follows:
|
Summary of costs for the CIC title |
|
|---|---|
|
Cost per course |
$420 to $475 |
|
Cost for five courses |
$2,100 to $2,375 |
|
Annual dues |
$250 |
|
Total costs |
$2,770 to $3,100 |
It’s possible to enroll in Certified Insurance Counselor courses through various state insurance associations, local authorized providers, or directly online via the Risk & Insurance Education Alliance.
Keep in mind that the certification itself is only awarded by Risk & Insurance Education Alliance. This is to ensure consistency and national recognition. Aspiring CIC titleholders cannot obtain the Certified Insurance Counselor certification from any other institution. The Risk & Insurance Education Alliance is the exclusive administrator and awarding body for the CIC certification in the US.
Getting the CIC designation can translate to substantially higher earnings compared to their non-designated peers. According to the latest reports, like those made by Payscale, the average annual base salary for Certified Insurance Counselors is about $78,000 in the US.
According to reports from the US Bureau of Labor and Statistics, the national average salary for insurance agents and brokers is typically in the range of $55,000 to $60,000 a year. What this means is that CIC designees earn, on average, up to $18,000 to $23,000 more per year than the national average for insurance professionals without the title.
Whether you work as a broker or agent, earning the CIC title can greatly enhance your skills and reputation. Here are several ways you can be better at your role with the CIC certification:
The CIC designation covers a broad range of insurance categories, including:
The comprehensive training and education you receive from the CIC program can ensure that insurance professionals gain a deeper understanding of policy structures, nuances of coverage, and regulatory requirements.
Clients are more likely to trust brokers or agents with proven expertise and advanced knowledge. This can invariably lead to stronger relationships, better client retention, and increased business.
The Certified Insurance Counselor designation is nationally recognized and signifies to clients and peers that you have met rigorous educational requirements and ethical standards.
The advanced training gained from the CIC program enables insurance professionals to better understand clients’ needs and help them maximize coverage.
This deeper understanding can help you create insurance policies that can better provide optimal coverage and reduce the risk of coverage gaps. And as a CIC, you would become more adept at identifying clients’ risk exposures and recommending tailored insurance solutions for these issues.
Being a Certified Insurance Counselor requires you to take continuing education courses to maintain the designation. This can ensure that the CIC titleholder stays up to date with industry standards, industry developments, new products, and regulations.
Simply having the CIC title can also demonstrate your dedication to continuous improvement and professional growth – and thereby earning the respect of peers and increasing your credibility.
Having this designation can set you apart from other brokers who may not have advanced credentials.
In some cases, having the CIC designation or other advanced insurance certifications can spell the difference between a client choosing you over another broker.
Having the Certified Insurance Counselor designation can give you access to a wide network of other experienced professionals and industry resources. These can be invaluable for solving complex client issues and staying informed about market trends.
Working to get the CIC title is widely regarded as a worthwhile move for most insurance professionals. But whether it is the right move for you largely depends on your personal career goals, area of expertise, and the market you serve.
Don’t forget, you aren’t limited to this designation. There are other designations you can earn if you think that the CIC title is not compatible with your area of expertise. If you wish, you can also earn these other designations and combine them with your CIC certification. This can make you an even more valuable member of your team or an indispensable asset to your clients. You can explore other certifications like:
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