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One-in-five insurance professionals have changed companies in the last year, says a survey of 1,300 independent agencies and MGAs from Vertafore about the state of the insurance workforce. Most of those who have moved reported their decision to make a change was driven mainly by financial considerations – including salary and bonuses.
This 20% turnover rate shows quite an increase from their 2017 survey, which showed about 11.9% turnover in the insurance industry. The higher rate was confirmed by both agency employees who reported changing jobs, as well as agency owners who stated they had either "slightly more" or "significantly more" employees leave in 2021.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
