Insurance brokers work in an aging industry the average agency owner is in their 50s and the average producer is in their late 40s, according to a recent Reagan Consulting study. What the Atlanta-based management consulting firm found isnt new, says Reagans Executive Vice President Tom Doran. Attracting young people to this industry is challenging, he says. Its been that way for a while.
Still, the discoveries Reagan found about brokers hiring practices were shocking, says Doran, 54, who been in the industry for 22 years. Over the past five years, just 35% of new hires came from outside the industry and just 6% were recent college graduates, Doran says.
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