It is no secret that the insurance industry is in the middle of a generational crisis as experienced managers and producers begin to look at retirement—and are discovering that there is a dearth of younger leaders ready to take their place.
“We see the talent gap as boomers retire,” says Warren Farrar, president and chairman of the Chartered Property Casualty Underwriters Society [CPCU] and assistant vice president with State Farm. “The challenge is to lure young people into the industry.”
He says the problem is that younger people are not interested in a career in insurance. One major reason for this is that they do not know about the many career disciplines that are open to them outside of sales, with opportunities ranging from customer service to claims investigation to high tech to law.
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