For me, as for many people, December is a time of looking back and looking ahead.
Looking back, my team brought you insightful monthly updates this year on specific insurance markets.
We also highlighted challenges and opportunities facing the insurance industry. We brought you the voice of the independent insurance agent in our annual survey, and we presented our annual risk manager salary survey.
In August, we presented the winners of the 2019 NU Excellence in Workers’ Compensation Risk Management awards. These three companies demonstrate the importance of workplace safety and minimizing employee injuries.
October gave us the chance to feature the three independent insurance agencies who are winners of the 2019 Agency of the Year award and share their thoughts on resilience. The winners will have an opportunity to expand on their tips for success as well as their suggestions for staying relevant in 2020 and beyond in a new, complimentary webinar on Dec. 12, at 2 p.m. ET. I hope you’ll join us to learn what they have to share.
Throughout the year, we stressed a major risk facing the industry: the talent gap and challenges in recruiting new entrants to the field. We’ve learned a lot about the industry’s needs, but also about the eagerness of new employees for career-development guidance.
Our parent company, ALM Media, recognized the strong appetite for career advice across all the industries we serve, including law, financial services and real estate. That led us to establish the ALM Young Professionals Group on LinkedIn, and I’m proud to say that we’re nurturing a growing community there.
A recurring theme across all industries is the issue of attracting younger professionals to traditional trade associations. Many of them have established young professional or “under 40” committees, and they’ve been rethinking who they are and how they work to find a fit.
At one recent panel discussion, the executive director of a trade association explained that his group has expanded its affiliate membership category for students and offers continuing education free for new graduates. He believes that it’s important to “get them in the door first,” then the association can demonstrate its value.
Another panelist, also the director of a trade association, noted that industry organizations often haven’t evolved as quickly as they should. His association recognized that younger professionals tend to network in a virtual world or online, leading to a digital trade association. Committee meetings are online, via a video chat, in real-time, cutting down on travel and making it easier to attend.
The young professionals on the panel said they began with affinity groups such as the women’s bar association, the minority lawyers’ association or the LGBT bar association. They felt more comfortable within the affinity groups, which helped them become more comfortable in the larger association.
The panelists agreed that the key question to be taken seriously and answered thoughtfully is: “Why should I join a trade association?” It’s an important question for the insurance industry to ponder, and it’s one that we’ll be exploring in more detail in the coming year.
And that’s what is top of mind for me for this month.
Best wishes to all for a happy holiday season, and a healthy and prosperous new year!
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