Bringing the Next Generation into the Fold

Time and again, I hear that our industry lacks young talent. I read that millennials are entitled, and I watch people characterize insurance agencies as dull. I beg to differ with it all.

I wasn’t always as optimistic about the future of the industry. When I took a job with Insurance Agents & Brokers (IA&B) more than a decade ago, I didn’t see many young people interacting with their agents’ association. I was as skeptical as the next 30-something of the generation on my heels. And, yes, I assumed there was some merit to the industry stereotypes.

Then things changed. I met young agents at conferences and was blown away by their dedication and drive. I visited our member agencies and saw vibrant workplaces that are keystones of their communities. I began to envision the future of the industry based on who I met and what I saw, and that future looked promising.

Three years ago, the IA&B team made a commitment to the next generation of agents. We held focus groups and asked young agents how we could support them, how we could help them succeed and, in turn, keep them in the industry. They were honest and talked about their desire to collaborate and network with other young agents. They shared their wish for mentors and spoke of training needs.

In 2016, we dipped our toes into the water. IA&B formed a Facebook group exclusively for the under-40 independent agent community and followed it up with an inaugural young agents’ conference outside of Philadelphia.

The response was electric. Young agents came to the conference eager and left with relationships that spurred dialog in the online community. Need a market? Studying for an industry exam? Want to compare notes on marketing strategies? Found a humorous industry meme? The Facebook group activity grew and continues to do so.

In spring 2017, we took our investment a step further. We formed a task force of 12 young agents who spent six months providing feedback on IA&B’s young agent outreach, conference and priorities. In the fall, they presented their findings to our board of directors, and we added two young agents to the board. Much like their counterparts on the task force, these board members brought (and continue to bring) a fresh perspective and a contagious energy to our meetings and, in turn, to IA&B’s strategic direction.

Rather than assuming we knew what drives millennials and what they needed to succeed in our industry, we started asking them. We stopped looking at them as “others” and began considering them part of our industry and our community.

This year marks my first as president and CEO of IA&B. One of my personal goals for the organization is to maintain — and even expand — this commitment to the next generation of independent agents. Already, we formed another task force of young agents — this group charged with advising our staff in the planning of what will be our third annual young agents’ conference.

The future of our industry is not in dire straits. The talent is there, and the young agents are committed. But they need our promise to engage and support them.

The independent agency system undoubtedly is facing monumental changes, some of them challenging. But the industry is made up of smart, committed and energetic professionals, from the baby boomer agency principals eyeing retirement to the incoming producers still learning the ropes. Join me in pledging to bridge our generational gaps — to listen more, engage more and support more — to sustain this great industry. Together, we can succeed.

Ernest, Esq., is president/CEO of Insurance Agents & Brokers, the partnership of independent insurance agents’ associations in Pennsylvania, Maryland and Delaware.

Topics Agencies Training Development