Monthly Archives: December 2008

Y Bother? Are insurance designations losing value in today’s market with a new generation of employees?

“If you build it, they will come.”
As the famous line from the baseball movie “Field of Dreams” suggests, some pursuits need no promotion, and participation in them constitutes sufficient reward.

The business of insurance education, however, is not the same as baseball, and throughout the years, industry executives and educators have made the assumption that a sufficient number of employees would naturally seek one or more of the various insurance designations, including the Associate in Claims (AIC), Associate in Risk Management (ARM), and the Chartered Property Casualty Underwriter (CPCU). With the exception of actuarial designations, the number of employees obtaining many of the major and specialty designations declined from the early 1990s through 2006, prompting a reevaluation of their value and how to reverse the trend.

According to the American Institute for CPCU and the Insurance Institute of America, fewer than 23,000 individuals took CPCU exams in 2006, a decrease of more than 55 percent since 1992. AIC examinations during the same period dropped from 18,500 to 10,263. Continue reading