The insurance industry faces big problems. People within our industry will say it's a perpetuation problem; that we don't have enough young people coming into our profession. While it's true that we struggle to attract new talent, I think the problem goes far beyond this issue. 

When new talent is hired they are trained to do business like insurance has always done business. The creativity these new recruits may have is set aside to that they can be like us and do business as usual. All in effort to meet the goals that we have set for them.

It seems that we are failing them and the potential they have to help reshape our industry. While our intentions are good we can be a hindrance to them and ourselves. 

So, what's the problem with doing business as usual? While insurance remains mostly unchanged as an industry, consumers are changing. They are changing how they communicate, transact and react to insurance. Social media and digital marketing is changing the way we transact and some will argue changing the way our brains are wired. Decision makers are getting younger and younger and the insurance industry does not have the equal work work to match these new business owners and decision makers. 

Maybe when we hire new salespeople we should ask them to train us as well! Established agencies and producers have plenty to teach new producers, but I would bet we are not asking new producers to train the mentors. Imaging if you combined the successful traits of an seasoned producer and matched them with the creativity and digital intellect of a new producer... They are the next generation of sellers and buyers. They know better than us how they like to be sold to and worked with on a business level. 

The next decade is going to create the biggest transition our industry has ever seen. We are going to see the agencies that are unwilling to change go out of business or be acquired by the survivors. Consolidation is going to continue. Local agents are going to lose more business to direct writers and automated insurance platforms. Where does your agency stand now for this transition? Are you going to be a Spectator or a Player? If you're reading this article, I'm assuming you are a player. Cheers you you! We will look back in ten years and be immensly grateful that we had the vision enough to change. If you need help with your transition into the digital insurance age, consult with us!