This article follows up on what has been a chronic problem of finding good producers for the industry and addresses some new solutions. First of all, the shortage of good producers is still a valid concern and has only grown worse over time. In the short-term this lack of good producers should concern all of us. Retiring agency owners without producers to perpetuate their book will have limited options and may not command top dollar in a sale to a third party. Insurance companies should be concerned about their market share if that key producer dies or retires without a backup to retain the accounts.
Youth is also the lifeblood of an industry.
However, there does seem to be an increase of young producers that sell nonstandard auto and employee benefits. Unfortunately, there is very little crossover of producers between these different lines of business. For the young people with no family ties to the industry, there is little, if any, motivation to get into the industry. The core problems Based on today s climate of high production volume commitments, the days of a young new producer starting from scratch are over. The incentive to sell insurance through your own firm is reserved only for the proven producer.