Respondents to the 2021 Independent Insurance Agent Survey said that these days, agencies are more likely to compete for talented recruits than for clients and prospects. As one of them noted: "Finding good talent continues to be a real struggle." But there is cause for optimism: Several premier insurance-industry organizations, including our survey partner National Association of Professional Insurance Agents (PIA) as well as the National Association of Insurance Commissioners, have doubled-down on their commitment to foster more diversity, equity and inclusion in the business, the need for which is illuminated not only by the way survey respondents described themselves but also how many of them described difficulties recruiting young, talented new staff. A third of survey respondents are 65 or older, close to half are middle age, and less than 50% are under age 50. Less than 6% of survey respondents described themselves as recent entrants into the insurance business. "While there is no consensus about the best way independent agents can advance the goal of encouraging greater diversity in closing the 'talent gap,'" says PIA National CEO Mike Becker, "agencies almost universally cite the need to recruit fresh talent generally." Here's another bright spot: The percentage of nonwhite employees in insurance increased to 21.4% in 2019 from 19.8% in 2018, according to the U.S. Bureau of Labor Statistics. Keep reading...

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