Insurers are typically focused on key economic indicators togain some insight into whether their particular lines of businesswill likely be riding a wave or swimming against the tide in thenear term, yet the biggest factors impacting their prospects rightnow might be more cultural in nature.

This isn't to say that carriers should ignore changes instatistics such as gross domestic product, unemployment or new homeconstruction to give them a hint as to whether their personal andcommercial lines will be facing tailwinds or headwinds when tryingto achieve organic growth, both in terms of new business writtenand pricing.

However, some of the most important trends likely to makeinsurer growth more challenging right now, while perhaps economicin terms of causation, might turn out to be social developmentssuch as the rising age for those leaving home and getting married,and being free of student debt.

Back in my adolescence, whenever my Uncle Jimmy would hearsomeone lament about something being better back in the “good, olddays,” he'd inevitably snap back, “What was so good about them?”Coming from a man who had lived through The Great Depression andfought in World War II, whatever complaints people had about moderntimes seemed to him trivial by comparison. Yet even my Uncle Jimmymight acknowledge the more problematic demographic environmentfacing insurers today compared to the “good, old days” of even adecade ago.

What's so tough about modern times for insurers? On the plusside, they have advanced analytics, predictive models and geniusdata-crunchers at their disposal. They also have web capabilitiesto increase capacity, efficiency, and productivity, as well asmobile technology to facilitate faster and more effectivecommunication.

However, on a more fundamental level, they also have an incominggeneration of consumers hindered by unprecedented circumstances intheir struggle to become full-fledged, insurance-buying adults.

Let's start with the most basic social construct—marriage. Fewerthan half of Americans were married as of 2012, falling from 64.2%in 1970 to a 40-year low of 48%, according to the National Centerfor Family and Marriage. In the meantime, the percentage of thosewho have never married has grown to nearly one in three, up fromone in four in 1970. People generally are getting married later inlife—if they get married at all. Many are having children later asa result, as well.

Even more basic is the growing number of young adults living athome with their parents after graduating college, often becausethey are unable to land a good-paying job (or any work at all).This comes on top of the alarming phenomenon of older individualsreturning to the nest after a layoff, a default on their mortgageor some other financial catastrophe—sometimes with a spouse andchildren along for the ride.

Thanks in part to the Great Recession of 2008 and the long, slowrecovery that's followed, it's just not economically feasible formany young people to leave home these days, or for many adults hitby hard times to live independently. Meanwhile, many of those whodo manage to leave the nest once and for all are often hamstrung bymassive debts to finance their education.

So, to recap: Back in the “good, old days,” people were morelikely to marry, and they took the plunge at a much younger agethan they do now. They also weren't nearly as likely to be payingoff tens or even hundreds of thousands of dollars in student loansfor years on end.

These societal trends could be a major drag on insurers seekingto sell more homeowners, auto and life insurance to those gettingstarted in life, and later on to those raising a family. If moreindividuals are stuck in their parents' house, putting off marriageand having children, delaying the purchase of their own home orcar, that's bound to put a pretty good dent into new-businessdevelopment for carriers.

Add on the financial burden of student loans becoming moreprevalent, and you can see how disposable income for new home orauto purchases, entrepreneurial business development, andassociated insurance purchases might start to worrycarriers.

An improving economy should provide some relief—to a stillalarmingly high number of unemployed and underemployed individuals,as well as insurers. But economic growth is coming very slowly.We've only recently recovered the number of jobs lost in The GreatRecession, leaving us six years behind in terms of creating newjobs for a growing work force. And many of the jobs that have beencreated in the past six years either offer fewer hours or lower paythan the positions they replaced.

In such an environment, retention becomes paramount as doessound underwriting. Carriers need to profit off the business theywrite more than ever, and they need to hold on for dear life tothose customers who are worthwhile risks.

Better days may yet lie ahead. If this economic recovery evermanages to gain momentum, spurring accelerated job growth andprompting a flood of so-called “boomerangs” to leave their parentalnests for good, there likely will be pent up demand for new housingand cars that could spur a substantial growth phase for personaland commercial insurers alike.