In March, California's population reached a noteworthy landmark: Latinos now outnumber whites for the first time in the state's history. This is more than just a demographic factoid. It is a benchmark moment on a path toward greater diversity in the U.S. population. This trend will also test the ingenuity and adaptability of the wholesale insurance market, while also playing to its strengths.

Insurance is still a people business. People like to work with people who are like them. Facebook works as a marketing tool because people like interacting with their friends. This same philosophy has sustained mono-ethnic enclaves in countless American cities–networks built on trust, which is particularly true of the wholesale insurance marketplace.

We are a business of people and ideas. To make it work, we must engage demographic shifts and represent the needs of a diverse population and their unique needs and risks, while adopting the new ideas they bring to the table.

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