Tennessee has more than 301,947 active licensed insurance producers, an increase of more than 25% during a nearly five-year span since the fiscal year 2020 to 2021, according to the Tennessee Department of Commerce & Insurance, or TDCI.
Of this figure, 51,986 were resident insurance producer’s licenses, while 249,961 were non-resident licensees.
TDCI officials attribute the growth of licensees partly to Tennessee’s population boom, as well as the availability of insurance producer exams.
Tennessee’s population is expected to reach more than 8 million residents by 2041, according to a recent study, up from a little more than 7 million in 2022.
TDCI is also working closely with its testing partner Pearson VUE to provide remote testing opportunities for state residents since 2021.
“Our partners at Pearson VUE, who conduct the remote exams, have played a crucial role in helping us reach prospective insurance producers who no longer need to spend time and money to travel to an in-person exam,” TDCI Assistant Commissioner for Insurance Bill Huddleston said.
Tennessee is ranked 17th in insurance premium volume in the US, with $75 billion in premium volume written in the state by all insurance companies doing business therein, according to the National Association of Insurance Commissioners.
In 2023, insurance companies that are domiciled or headquartered in Tennessee wrote $26 billion in premium volume.
