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CPCU - I'm OK, Are You?

Insurance veterans who have earned the CPCU designation are nothing if not confident about their abilities--they're just not so sure about everybody else's. In a recent survey conducted by the Charter

By Joan E. Collier, Joan E. Collier | Updated on September 30, 2007

Insurance veterans who have earned the CPCU designation are nothing if not confident about their abilities–they’re just not so sure about everybody else’s. In a recent survey conducted by the Charter Property Casualty Underwriters Society, members of a select Member Opinion Panel were asked their views on the industry’s future and what any impending changes would mean for their careers. A whopping 97 percent of the respondents said they felt well prepared to handle the industry’s changes, based on their training and experience. However, they expressed concern about the preparedness of the industry to deal with the upcoming wave of retiring Baby Boomers. Combined with a projected shortfall in the number of new entrants with the necessary technical and subject skills, 66 percent of survey respondents foresaw an “experience gap” as very likely to form in the next five years if nothing is done.

Not wishing to be part of the problem, they suggested solutions, including more aggressive recruiting efforts; improved training; retaining retiree capital via consulting, mentoring, and flexible scheduling; more competitive compensation and benefits; and enhanced positive visibility for the industry and its career options.

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