NU Online News Service, Nov. 15, 2:30 p.m. EST

As the population of "baby boomers" born between 1946 and 1964heads closer to retirement, many face the reality that their yearsof hard work have not provided enough for a comfortableretirement.

Recognizing that employees in the insurance industry are noexception, Sharon Emek, a 30-year veteran of the insuranceindustry, launched a new business model that also addressesmultiple problems facing insurance agencies.

Ms. Emek described her new business--Work at Home VintageEmployees, or WAHVE--as a"perfect storm staffing model."

"I saw a population of industry baby boomers who wanted toretire at a certain age but still wanted to receive income tosupplement their retiree benefits. They also wanted to be able to'enjoy the quality of life' that goes along with retirement," saidMs. Emek, who is chief executive officer and president.

She also saw insurance agencies looking for staffing expertiseat a time when they are under pressures to keep costs low.

WAHVE is trying to be the bridge that will connect the emergingissues for retirees and agencies--by providing a unique,cost-saving remote staffing solution that supplements an agency'sstaffing needs by accessing the insurance industry's "highlyknowledgeable and technologically savvy retirees," sheexplained.

WAHVE can provide back-office and CSR services on a full-time orpart-time dedicated basis, or on a project basis. While helpingagencies improve their profitability, the WAHVE model is alsokeeping outsourced jobs in America, she explained.

"WAHVE creates an opportunity for employers to cut costs inhalf," Ms. Emek said, noting that when they use WAHVE home-basedstaffers, agencies save money because they don't have to providebenefits. In addition, since employees are outsourced, the agenciescan save on overhead.

Ms. Emek, who is also a partner at CBS Coverage Group, a NewYork-based insurance agency, has been developing WAHVE for the pasttwo years.

Ms. Emek described the research done during the earlydevelopment stages of WAHVE, including a survey she conductedtogether with the Austin, Texas-based National Alliance ResearchAcademy, called "The Looming Professional Gap: The Aging of theNational Insurance and Risk Management Workforce."

The study sought to identify current retirement trends withinthe insurance and risk management industries and the impact of suchtrends on the economy.

Survey participants--insurance industry professionals who haveretired or are near retirement--said top factors in retirementplanning were: financial well-being, cost and availability ofhealth insurance, and the ability to perform day-to-day jobfunctions.

Only 33 percent of all study participants said they believedtheir organizations are prepared for their retirement, according tothe survey, which was also undertaken to understand the future ofthe industry as it prepares for the exit of the "baby boomer"population.

The study concluded the future of the insurance and riskmanagement industry is very unpredictable, but the number-oneconcern is preparation.

A separate finding reported by the Independent Insurance Agents& Brokers of America in American Agent & Broker (asister publication of NU, which is part of Summit BusinessMedia's Property & Casualty Media Group) shows that theinsurance industry continues to see a shortage of trained insuranceprofessionals, and with the average age being 54, it is expectedthat 50 percent of the industry will be retiring within the next 10years.

This leaves a lot of available positions that have not attractedmany insurance-literate employees in years, providing a need forthe "perfect storm model."

Since its launch in April, Ms. Emek reported that WAHVE alreadyhas a steadily climbing base of 350 qualified retired insuranceprofessionals who offer 25-plus years of service within theindustry. WAHVE is also an Entrepreneur Insurance Award finalistwithin the distribution category. The winners are set to beannounced in December.

More information is available at www.wahve.com.