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

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 exits within the next decade.

It's not a failing on insurers' part, but rather a tale of numbers: In 2014, the average age among insurance agents in the U.S. is 59. According to data from global management consulting firm McKinsey & Co., 25% of the insurance industry's workforce will retire by 2018.