Tennessee has seen a 25% jump in the number of insurance producer licenses in the past five years, an increase that regulators have attributed to a population boom in the state and easy access to producer exams.
The state now has 301,947 active licensed producers, which includes almost 250,000 non-resident licenses, the Tennessee Department of Commerce and Insurance said in a bulletin. That compares to a total of 240,080 licenses in 2020.
The state’s population is growing steadily, the department said. In 2022, the population was about 7 million. By 2041, the number is expected to pass 8 million.
In 2023, insurance companies domiciled or headquartered in the state wrote $26 billion in premium. Tennessee now ranks 17 in the nation for premium volume, according to data from the National Association of Insurance Commissioners, TDCI noted.
TDCI also said it has worked with Pearson VUE, one of the largest testing companies, to provide remote testing for license applicants.
“The availability of online exams has proven to be a benefit for applicants and the insurance industry as a whole,” said state Assistant Insurance Commissioner Bill Huddleston.
Topics Tennessee
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