Property & casualty agents have seen an extended soft market, agency and carrier consolidation, a cost shift from carrier to agency, increased technology expenses, tighter contingency agreements, and an overall reduction in profit margins. 

While all of this has been taking place in the property & casualty world, the world of life insurance distribution also has been changing. The average age of the independent life agent is mid-50s, and that will continue to increase over the next decade; the industry is not enticing younger people to its ranks. However, as the independent sales force declines, the number of families needing professional life services will increase, creating a perfect storm of opportunity.

Research has consistently shown that Americans want professional help when making their insurance decisions. Studies by the Life Insurance and Market Research Association (LIMRA) show that six in ten Baby Boomer households prefer to buy life insurance face-to-face. Half of U.S. households (58 million) say they need more life insurance—the highest level ever. However, almost eight in ten American households do not have a personal life insurance agent or broker.