The insurance industry is expected to lose about 50% of its workforce to retirement by 2028. What does that journey look like for insurance professionals? A planned and often tapered approach is best for the transition. (Credit: Hyejin Kang/Adobe Stock) The coming "baby boomer" retirement collapse – when more Americans will turn 65 than at any point in U.S. history – will find companies having to overcome the catastrophic loss of a generation's years of knowledge and experience. (Credit: Hyejin Kang/Adobe Stock)

For years now, the workforce has been inching toward a historic wave of retirement. From 2024 through 2027, more Americans will turn 65 years old than at any point in our country's history. About 50% of the insurance industry workforce is in line to retire by 2028, and all of the baby boomers will be past the traditional retirement age by 2030.  Many of these professionals are already planning their exit strategy.

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