Did you know the average age of an insurance agent is 59 and that one-fourth of the industry’s work force is expected to retire by 2018?
If you were wondering, our average age is 44 years and we are continuing to grow each and every day! Come and join our team at Meyers Glaros Group where we value our employees and always serve our clients first.
A stimulating article within the Insurance Business America – Agency Equity, talks about the decline of insurance agents and how it is going to change the industry by 2018 as well as hiring individuals and the struggles companies may come across. To check out the full article, click here.
With a serious number of workers leaving the insurance industry by 2018, it is prominent that companies begin to hire – and hire individuals long-term to enhance success. The only problem with hiring long-term, or hiring at all, is finding the right employee to fill the gap. With that being said, another major issue the article talks about is that younger people find insurance ‘boring’.
In many cases, people perceive insurance as more of a sales job than a servicing job. In some cases this is true because agents are truly selling you a product. Generally, sales and servicing should be used simultaneously, but the ‘servicing’ aspect can be overlooked. Rather than focusing on the ‘sales’ aspect of insurance, companies and agencies should be focusing on career development and helping their clients. Our agency is always focused on serving our clients! We try to educate them so that they comprehend their policies and coverage and why the insurance industry was built to and protect them. Without proper knowledge and understanding, America will perceive this industry as boring.
Another interesting point the article discusses is hiring agents to work remotely, which could attract younger graduates. As the digital world continues to develop, the physical world must transition as well. Everyone is on the move and with smart devices providing, communication, education, and entertainment, the business world will need to adapt and become more mobile to fit the lifestyle of busy Americans. Not everything can be done digitally nor should it be. Meeting someone face-to-face is still a crucial form of verbal communication and can help both parties feel connected. Without the face-to-face interaction, the ‘servicing’ side of insurance begins to disappear which will draw more focus on the ‘sales’ aspect. Although working remotely may sound more attractive, there must be balance between working within an office and remotely to carry on the feature of servicing.