Give me a break. I have a dead insurance companies coffee mug collection that includes some of biggest and longest operating companies right up to their ultimate demise. (U.S.F. & G., Aetna, St. Paul (it was not a merger of equals), Continental, Kemper, Reliance come to mind.) You can have lots of employer choices if you’re willing to work in a place that’s a rat race (NYC, Atlanta, Chicago, Dallas, L. A.) Outside those cities, you have about as much of a chance of long-term employment with the same firm as a textile worker has in North Carolina.
While I understand that many of the veterans of the industry will tell me I’m an idiot, as someone who graduated college one year and three days ago, I love this business. Right out of college I started training to be an E&S underwriter, and everyday something new comes up.
It certainly is not an industry for lazy people, or those that think they’ll make millions doing the bare minimum. But if you work hard, apply your skills every day and show intiative it seems you can live a pretty comfortable life.
My father has been an E&S broker for 30 years, my brother for six, and while everyone is stressed at times, it’s a lot better than digging ditches as someone else mentioned. It’s definitely an industry that will never go away; people will always need insurance.
Thanks Bob and best of luck to you. I’m going to share your comments with my daughter and my son’s wife who are both in college. Actually at the age of 14 my son started working at an insurance company where I was employed for about three years but later decided on a different career path. Put it like this, he likes getting his hands dirty. He is a certified auto mechanic but feels that his wife would do well, with my guidance; for he knows the passion I have for the business. I guess we will see.
I was in DC and I agree that we need to attract young talent! One thing the IBA West and its locals do is use the National InVest program to help introduce the insurance industry to young people.
I am the current president of the IBA San Fernando Valley and our chapter is now attending local community college job fairs and presenting internship opportunities and entry level training opportunities to the attendees. We currently have only a handful of agencies that are participating and a book full of resumes.
I am excited about where this could go and would love to see more associations pick up the idea and run with it!! I would also like to see more companies and agencies buy into the idea of training and growing their own professionals!
The influx could make all the difference in our industry’s future!!
As for “You can not be serious” and “Please pass me your crack pipe”, if you spent more time creating new ideas and additional opportunities as you do complaining and whining about the state of the industry, you would be leading your field and not spending valuable time providing energy draining responses.
Successful people create opportunities and wealth in any market. If you’ve been in this business as long as you say you have, then you should know this is only a business cycle that will turn. With the all the resources available, the flexible hours and amount of wealth you can create, the is a great business.
Regardless of any cycle, toughen up and get back to work. Otherwise, make a decision with what you want to do in life and spare others from your pessimism.
I think almost every comment posted here has made some degree of sense, but I think the primary point may have been missed. Recruiting top quality talent into the industry. I think what the article is suggesting is that top college minds, ie graduates of the Ivy’s and those who graduate with high honors, look toward the banks, investment firms, law firms, consulting, etc. They do not consider Insurance nearly as sexy or potentially lucrative. No one within the industry should doubt that insurance can be complex, interesting, and it certainly pays the bills. But, how does that message reach the highest achievers? And, like the article states, how does it become a goal instead of a default choice?
There is no better field. I woke up today and made 5 grand off a condo board that renewed their 7 lines of business. I also have another condo coming up for renewal on the 17th, windstorm alone is 600k, flood another 60 k, property 70k, then put in the GL, Crime, D&O, Umbrella.
I would definately recommend this business to people. As long as you are reasonably intelligent and have communication skills you can be successful here.
I also am not independent or captive agent, I work for a major brokerage, so my deal bring in major premium
I don’t think it’s a bad thing that people end up in the business by default. I started by X-dating out of the phone book for an agent when I was in high school. I went to college, returned to the business, took some time to explore other options, and then I came back.
For people who believe they are providing an essential service, this is a great career. The young people are the best chance to sell the value of an agent to the internet generation. I think we do need to be in the high schools and colleges recruiting at an agency level…but again, this will put people into the business by default…and that’s not a bad thing.
What schools are you offering these programs in? Maybe we can work together using InVeast and CA ins careers to create that vehicle. We have started the ball rolling with Job Fairs and asked for internships. If we can nail this down a little more maybe we can really get it to take off!!
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
Give me a break. I have a dead insurance companies coffee mug collection that includes some of biggest and longest operating companies right up to their ultimate demise. (U.S.F. & G., Aetna, St. Paul (it was not a merger of equals), Continental, Kemper, Reliance come to mind.) You can have lots of employer choices if you’re willing to work in a place that’s a rat race (NYC, Atlanta, Chicago, Dallas, L. A.) Outside those cities, you have about as much of a chance of long-term employment with the same firm as a textile worker has in North Carolina.
That was my point to begin with. Company no, retail yes. It depends which side of the fence you’re sitting on.
While I understand that many of the veterans of the industry will tell me I’m an idiot, as someone who graduated college one year and three days ago, I love this business. Right out of college I started training to be an E&S underwriter, and everyday something new comes up.
It certainly is not an industry for lazy people, or those that think they’ll make millions doing the bare minimum. But if you work hard, apply your skills every day and show intiative it seems you can live a pretty comfortable life.
My father has been an E&S broker for 30 years, my brother for six, and while everyone is stressed at times, it’s a lot better than digging ditches as someone else mentioned. It’s definitely an industry that will never go away; people will always need insurance.
Or maybe I’m just naiive…
Thanks Bob and best of luck to you. I’m going to share your comments with my daughter and my son’s wife who are both in college. Actually at the age of 14 my son started working at an insurance company where I was employed for about three years but later decided on a different career path. Put it like this, he likes getting his hands dirty. He is a certified auto mechanic but feels that his wife would do well, with my guidance; for he knows the passion I have for the business. I guess we will see.
I was in DC and I agree that we need to attract young talent! One thing the IBA West and its locals do is use the National InVest program to help introduce the insurance industry to young people.
I am the current president of the IBA San Fernando Valley and our chapter is now attending local community college job fairs and presenting internship opportunities and entry level training opportunities to the attendees. We currently have only a handful of agencies that are participating and a book full of resumes.
I am excited about where this could go and would love to see more associations pick up the idea and run with it!! I would also like to see more companies and agencies buy into the idea of training and growing their own professionals!
The influx could make all the difference in our industry’s future!!
Not naiive at all Bob, you should know that.
As for “You can not be serious” and “Please pass me your crack pipe”, if you spent more time creating new ideas and additional opportunities as you do complaining and whining about the state of the industry, you would be leading your field and not spending valuable time providing energy draining responses.
Successful people create opportunities and wealth in any market. If you’ve been in this business as long as you say you have, then you should know this is only a business cycle that will turn. With the all the resources available, the flexible hours and amount of wealth you can create, the is a great business.
Regardless of any cycle, toughen up and get back to work. Otherwise, make a decision with what you want to do in life and spare others from your pessimism.
I think almost every comment posted here has made some degree of sense, but I think the primary point may have been missed. Recruiting top quality talent into the industry. I think what the article is suggesting is that top college minds, ie graduates of the Ivy’s and those who graduate with high honors, look toward the banks, investment firms, law firms, consulting, etc. They do not consider Insurance nearly as sexy or potentially lucrative. No one within the industry should doubt that insurance can be complex, interesting, and it certainly pays the bills. But, how does that message reach the highest achievers? And, like the article states, how does it become a goal instead of a default choice?
There is no better field. I woke up today and made 5 grand off a condo board that renewed their 7 lines of business. I also have another condo coming up for renewal on the 17th, windstorm alone is 600k, flood another 60 k, property 70k, then put in the GL, Crime, D&O, Umbrella.
I would definately recommend this business to people. As long as you are reasonably intelligent and have communication skills you can be successful here.
I also am not independent or captive agent, I work for a major brokerage, so my deal bring in major premium
I don’t think it’s a bad thing that people end up in the business by default. I started by X-dating out of the phone book for an agent when I was in high school. I went to college, returned to the business, took some time to explore other options, and then I came back.
For people who believe they are providing an essential service, this is a great career. The young people are the best chance to sell the value of an agent to the internet generation. I think we do need to be in the high schools and colleges recruiting at an agency level…but again, this will put people into the business by default…and that’s not a bad thing.
What schools are you offering these programs in? Maybe we can work together using InVeast and CA ins careers to create that vehicle. We have started the ball rolling with Job Fairs and asked for internships. If we can nail this down a little more maybe we can really get it to take off!!