Nearly 10,000 baby boomers (76.4 million people born between 1946 and 1964) are retiring every day in the United States, and this will continue for the next 14 years. About 65,000 of those who are retiring each year are currently employed in the insurance industry.
What does this have to do with selling insurance?
Among the thousands of boomers who are retiring over the next several years are business owners (including those who own insurance agencies) and insurance agents. These businesses will be sold, turned over to family members or merged with other businesses. This means those long-term relationships between thousands of business owners and their insurance agents are going to be broken and new relationships will have to be developed.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
