Tennessee at an All Time High of Licensed Insurance Professionals

The number of licensed insurance professionals working in the Volunteer State is at an all-time high, partly due to the state’s expanding population and the availability of insurance producer exams. Currently, Tennessee has more active licensed insurance professionals than ever before, with over 301,947 licensed insurance producers (51,986 resident insurance producer’s licenses and 249,961 non-resident licensees). In contrast, Tennessee had 240,080 in fiscal year 2020–21, a rise of more than 25% over almost five years. According to authorities at the Tennessee Department of Commerce & Insurance (“TDCI”), the state’s population boom—which is predicted to surpass 8 million persons by 2041—is partly responsible for the increase in licensees. In 2022, Tennessee’s population was projected to reach just over 7 million. An essential component of Tennessee’s economy is the insurance sector. Tennessee-domiciled or based insurance companies wrote $26 billion in premiums in 2023. According to the National Association of Insurance Commissioners, Tennessee ranked 17th in the country for premium volume, with all insurance firms operating in the state writing $75 billion in premiums.