Snapshot - New York Insurance Licensing in 2017

The New York Department of Financial Services (DFS) administers a number of exams to those who would like to work as insurance agents in New York.  According to reports released by DFS and summarized in the charts below, the pass rates on many of the exams have fallen in recent years.

Licensing exams are an important part of consumer protection, but judging from the declining pass rates, something appears to have changed in New York.  

Should stakeholders be concerned?  By digging deeper into the data, the answer appears to be "yes.' 

Screening Diversity? 

National studies show African American and Hispanics combined account for 12% of insurance agents, despite representing over 30% of the population. Other studies show that Hispanic households in particular are under-insured and less likely to know an agent.  The charts below show that agents from the communities that are most under-represented in the insurance industry are least likely to get a license.  

Is there a link between the studies and the DFS data?