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Customer Service Focus What is the value of a designation? Return on investment is high for employers and employees alike By Ruth E. Phillips, CISR, CPSR, CPIW What is the value of a designation in the insurance industry? Why do we work to earn those letters after our names? Are they really worth the effort? At a recent industry event, I ran into a former colleague whom I hadn’t seen in several years. She had moved to a different company, so we had some catching up to do. She mentioned that she hadn’t finished working on a designation for which she had been studying very hard. In fact, she needed to pass only one more exam to earn the designation. Surprised, I asked her why she didn’t finish the course. She told me her new employer wouldn’t pay for the course or allow her to be out of the office to attend class. The employer didn’t understand the value of the designation—to the agency or to the employee. In my own career, I’ve encountered misunder-standing of designations. For instance, recently I met my mother and one of her friends for lunch. Her friend asked for my business card so she could call me with some questions, and I gladly gave her a card. As she was putting it in her purse, she looked puzzled. She asked me, “What do all those letters mean after your name?” Before I could answer, my mother replied, “They mean she went to classes, studied hard, and passed a test.” Designations mean more than just being out of the office or passing a test. A designation after your name is a signal to the public that you are a professional in your chosen career field. Whether you are a CSR, producer, underwriter, or claims adjuster, there is a designation tailored for you. After earning that designation, you can feel confident in knowing you are equipped to provide better service to your agency’s clients. Pursuing designations does give us a chance to take a course (whether in a classroom or online), participate in a class, and perhaps even take a test. But it is not just a class. It is continuing education. The key word here is continuing. It is a course that by design will keep you, the professional, current in your chosen field. Forms, rules, and policies are always changing. Continuing education courses help keep you current on industry changes, trends, and news. A benefit of attending a class, versus taking an online course, is the networking that takes place among students and with instructors. During one class, I mentioned to an instructor that a CSR in my agency was having a hard time passing a certain class. The instructor called my office the next week and spent time working with the CSR. When she attended her next class, she passed. This was possible because of networking. Many of us have been able to place coverage on a particularly difficult class of business or to find the answers we were looking for because of whom we networked with at a continuing education class. Added bonus Designations offer value to our employers as well. Earning a designation or attending a continuing education class may mean free publicity for your employer. Many local newspapers will run a press release with information regarding your achievement. Once you have completed the requirements for your designation, the awarding institution will usually offer a sample press release. It can be as simple as filling in the blanks and sending in a photo, then waiting for the phone calls to come into your office. Your employer will be recognized for encouraging your professional growth, and you will be recognized for the hard work you put forth to earn the designation. Designations can offer value to employers in other ways. Insurance company representatives may ask the agency principal if anyone in the agency holds a designation and, if so, which one, before granting an appointment. Some errors and omissions policies offer credits when agency employees attend an E&O class. By encouraging their customer service representatives to earn designations, employers know that their employees will be taking a class that may save the agency money on a policy that could otherwise prove costly. Agency owners can be sure that their employees are receiving valuable education while studying for a designation. Classes leading toward a designation are taught by the leading professionals in their field, so students get the benefit of learning from experts. Studying for a designation also provides a broad range of knowledge, something that employees may not receive in their current work environment. For instance, a personal lines CSR doesn’t deal with commercial lines, so her job would not require her to take a class on commercial lines. However, while studying for a designation, she may be required to take a commercial lines class. This broad base of knowledge is beneficial to both the employee and the employer in our ever-changing industry. While designations do involve certain costs such as tuition, exam fees, and sometimes hotel and travel expenses, they are truly more valuable than any amount you can put on paper. My own designations are like stepping stones in my career. After I succeeded in earning one designation, I moved on to pursue the next one. I can look back and see where I have been and how far I have come. Earning those designations challenged me and made me a better professional, allowing me to provide a higher level of service to my agency’s customers. That meant that I was being the best employee I could be. Earning designations involves dedication, hard work, and time, but the return on the investment is high. * The author |
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