Delaware Business Insurance Update from CNC Insurance Associates Inc. "Young People Not Choosing Insurance Careers" 8-17-14

The insurance industry has a youth problem. There is not a lot of interest from young people to enter the insurance industry. This problem is not new it is just becoming more critical as the industry ages. There are a lot of reasons that we can talk about but a recent study may have figured it out. The study showed that 70% of the millennials place work/life balance as the most important reason for choosing a career. The insurance industry does not have the reputation of being a career where there is the option to balance life and work. Take for example the job of being an insurance producer. If you are a young agent and you want to build a book of business, you are looking at 5 to 7 years of hard long days selling and servicing clients to build a good income. Now the rewards are great after you hit your stride and develop your book of business, but getting there is brutal. Trying to win over a young talented person about becoming an insurance producer may just be a turn off when the reality of the job in the early years is discussed. However, the flexibility and financial rewards of established producers can have a very good life/work balance and may be just want the young professional wants and needs. I guess the young workers need to understand what many of us "older" folks know, anything worth it has to be worked for. Until next time be careful out there and know your risks.
G. Kevin Nemith, Pres. CNC Insurance Assoc. & The Small Business Insurance Center
Serving DE, MD, PA, VA, & NJ
www.cncinsurance.com
www.bizinsurancetv.org

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