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 isn’t new, says Reagan’s Executive Vice President Tom Doran. “Attracting young people to this industry is challenging,” he says. “It’s 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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