Gen Y thinks our industry is lame.
That was the vibe in last Thursday afternoon’s standing room only “State of the Industry” breakout workshop session at NAILBA 30 in Scottsdale, Ariz.
So that’s why young people aren’t pursuing careers in the life insurance industry. It’s too boring. It’s too complicated. It’s generally perceived as a lame profession by the hip, cool Gen Y crowd.
ING’s Butch Britton, one of the panelists for the session, pointed out that the average producer is 56 years old and is focused on the affluent market. We all know not enough young people are entering the business, and meanwhile, nobody’s hitting up the middle market to buy life insurance.
Britton lamented that life insurance “is the greatest business in the world,” and we still can’t get anybody to make it a career choice because they either don’t know about it or they don’t understand it. Or they think it’s lame and dismiss it without ever giving it proper consideration.