Insurance Sales Agents in Puerto Rico
Thinking about a career as an Insurance Sales Agents in Puerto Rico? Here’s what the data says. Sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.
What do Insurance Sales Agents Make in Puerto Rico?
For a insurance sales agents working in Puerto Rico, the typical annual salary is $37,710 per year (or about $18.13/hour).Pay can range from $26,000 at the 10th percentile to $57,640 at the 90th percentile.
| Wage Statistic | Annual | Hourly |
|---|---|---|
| 10th percentile | $26,000 | $12.50 |
| 25th percentile | $34,620 | $16.64 |
| Median (50th) | $37,710 | $18.13 |
| 75th percentile | $46,790 | $22.49 |
| 90th percentile | $57,640 | $27.71 |
The location quotient — a measure of how concentrated this occupation is in Puerto Rico relative to the national average — is 0.65, suggesting fewer insurance sales agents per worker than the national average.
National Wage Comparison
Nationally, insurance sales agents earn a median of $47,818 per year ($22.99/hour), below the Puerto Rico median.
Employment Outlook
National employment for 923,960 insurance sales agents in the U.S.. In Puerto Rico alone, approximately 1,870 people work in this role. That’s fewer than the typical state, which employs around 5,960 insurance sales agents.
Top Puerto Rico Metros for Insurance Sales Agents
These are the Puerto Rico metros with the most insurance sales agents in Puerto Rico.
| Metro Area | Number Employed | Annual Median Salary |
|---|---|---|
| San Juan-Bayamon-Caguas, PR | 1,410 | $37,770 |
| Ponce, PR | 130 | $37,690 |
| Arecibo, PR | 80 | $36,460 |
| Mayaguez, PR | 80 | $36,560 |
| Aguadilla, PR | 70 | $35,830 |
Top States for Insurance Sales Agents Employment
The table below shows the states where the most insurance sales agents work.
| State | Number Employed |
|---|---|
| Texas | 44,670 |
| Florida | 44,080 |
| California | 41,150 |
| New York | 20,990 |
| North Carolina | 19,540 |
| Georgia | 19,520 |
| Illinois | 17,640 |
| Pennsylvania | 17,600 |
| Ohio | 15,750 |
| Virginia | 14,090 |
| Indiana | 12,980 |
| Michigan | 12,310 |
| New Jersey | 11,080 |
| Washington | 10,430 |
| Massachusetts | 10,360 |
| Missouri | 10,350 |
| Arizona | 9,910 |
| Minnesota | 9,470 |
| Colorado | 9,340 |
| Tennessee | 8,650 |
Highest-Paying States for Insurance Sales Agents
Where insurance sales agents earn the most: insurance sales agents.
| State | Annual Median Salary |
|---|---|
| Minnesota | $78,650 |
| New Jersey | $78,080 |
| Massachusetts | $77,660 |
| Connecticut | $77,090 |
| New York | $75,860 |
| District of Columbia | $75,180 |
| Rhode Island | $74,360 |
| Wisconsin | $70,650 |
| Vermont | $70,390 |
| North Dakota | $65,850 |
Skills
Key insurance sales agents skills, rated on an importance scale of 0 to 5:
Knowledge Areas
Core knowledge areas for this occupation, rated on an importance scale of 0 to 5:
Abilities
Key abilities for insurance sales agents, rated on an importance scale of 0 to 5:
Daily Tasks
Insurance Sales Agents typically:
- Customize insurance programs to suit individual customers, often covering a variety of risks.
- Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialized policies, such as marine, farm/crop, and medical malpractice.
- Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
- Perform administrative tasks, such as maintaining records and handling policy renewals.
- Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
- Call on policyholders to deliver and explain policy, to analyze insurance program and suggest additions or changes, or to change beneficiaries.
- Confer with clients to obtain and provide information when claims are made on a policy.
- Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.
- Contact underwriter and submit forms to obtain binder coverage.
- Select company that offers type of coverage requested by client to underwrite policy.
- Ensure that policy requirements are fulfilled, including any necessary medical examinations and the completion of appropriate forms.
- Develop marketing strategies to compete with other individuals or companies who sell insurance.
Work Activities
- Establishing and Maintaining Interpersonal Relationships
- Getting Information
- Selling or Influencing Others
- Working with Computers
- Organizing, Planning, and Prioritizing Work
- Evaluating Information to Determine Compliance with Standards
- Making Decisions and Solving Problems
- Performing for or Working Directly with the Public
- Processing Information
- Developing Objectives and Strategies
- Performing Administrative Activities
- Updating and Using Relevant Knowledge
Tools & Technology
Technologies frequently used: Hot technologies: Adobe After Effects, Facebook In-demand technologies: Microsoft Excel
What Major Will Prepare You For This Career?
Related college programs include:
Related Careers
Other careers like insurance sales agents include:
- Financial Managers
- Claims Adjusters, Examiners, and Investigators
- Management Analysts
- Compensation, Benefits, and Job Analysis Specialists
- Credit Analysts
- Financial and Investment Analysts
Also Known As
Account Representative, Account Specialist, Auto Insurance Agent (Automotive Insurance Agent), Bilingual Insurance Sales Agent, Bond Writer, Burial Agent, Commercial Lines Account Manager, Compensation Agent, Customer Relations Rep (Customer Relations Representative), Cyber Insurance Policy Specialist, Debit Agent, District Agent, Enrollment Specialist, Estate Planner, Field Marketing Representative.
References
- U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
- O*NET Online — https://www.onetonline.org/
- BLS Employment Projections — https://www.bls.gov/emp/
- O*NET-SOC code: 41-3021.00
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