IIABA Tries Facebook, Other Tools To Bring Youth To Agencies

An April 2008 survey released by Insurity and Microsoft Corp., titled "Millennials in Insurance 2008," said 40 percent of the 704 "Millennials" surveyed, aged 18 to 27, expected their employers to use some sort of social networking site, while 91 percent would be somewhat more likely to consider a job employing newer, innovative technologies.

According to industry professionals, many insurance agencies have been reticent in employing social networking sites to carry out business and attract clients.

Progressive Insurance has its own Facebook page with 3,500 members and its own Twitter site, while other smaller independent insurance agencies are also beginning to create their own Facebook pages and Twitter sites.

InVEST, based in Alexandria, Va., is engaging in this trend, advising its members to use sites, such as Facebook, as a method of attracting the next generation to enter the insurance workforce.

"Susie will discuss Facebook, Twitter, and other social networking sites and how to use them to communicate and attract young talent to the industry," said Margarita Tapia, IIABA Director of Public Affairs.

"This discussion is expected to be one of the highlights of the InVEST State Champion Workshop," Ms. Tapia added, "and important to the founding goals of the InVEST program of bringing more young blood into the industry."

InVEST, describes itself as an organization designed to improve insurance knowledge among the millennial generation and attract young talent to the industry.

The group employs teachers at high schools and community colleges to educate their students about insurance. Insurance agents also provide students with opportunities for job shadowing, internships, and, ultimately, careers.

A study at the end of 2008 conducted by Future One, a collaboration of the IIABA and other independent insurance agencies, highlighted the need for more young professionals in the independent insurance industry.

The "Agency Universe Study" revealed the average age of professionals in the insurance agency was 54, while 60 percent of all insurance industry professionals were over 45 years of age.

Robert Rusbuldt, president and chief executive officer of IIABA, said, "InVEST is key, not only to the future of the independent agency system, but to the insurance industry as a whole."

Brett Nilsson, IIABA chairman, said, "InVEST is my top priority and key to attracting new talent to our industry.

"With the average age of an insurance professional at 54, the industry will soon see the dramatic effects of not bringing in fresh talent as baby boomers retire," he added.

Ms. Bonner's social networking presentation will emphasize one of the main methods InVEST plans to use in trying to attract more youth to the insurance industry.

In addition to her presentation, there will be an introduction to the program, titled "InVEST 101″ on the first day of the workshop.

The second day will be comprised of various InVEST teachers and insurance agents giving advice on creating and nurturing InVEST programs in high schools and community colleges.

There will also be sessions designed to help attendees in creating and improving their own InVEST programs in their particular states.