Future Shock: Recruiting the Insurance Industry’s Next Generation

As fulfilling as it is on multiple levels, a career in the insurance business is not one that most young people intentionally pursue. Ask anyone who’s spent more than a few years in the industry and they’ll tell you that they fell into it but that they truly enjoy it, and in many cases they’ll say had the benefit of a mentor who helped shepherd their career.

In the next seven to 10 years, more and more institutional knowledge will be lost from the insurance industry as much of its old guard turns its attention to other life interests. Whether it’s a producer passing his agency on to a successor, or a carrier executive or risk manager finally seeking retirement, many longtime professionals in this business will soon make way for a new generation of leaders. Yet recruitment efforts to attract and cultivate young talent have not kept pace with the number of top people in the insurance industry who will be making their exit within the next decade.