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An aging insurance industry embraces flex workers

Theres a crisis unfolding within the insurance industry, and it will touch nearly every carrier and agency, large or small. Its an issue that will impact operations and profitability its the retiring workforce.

By Sharon Emek | Updated on February 21, 2018
Twenty five percent of the insurance workforce is expected to retire in 2018. (Photo: Shutterstock)

There’s a crisis unfolding within the insurance industry, and it will touch nearly every carrier and agency, large or small. It’s an issue that will impact operations and profitability — it’s the retiring workforce.

In fact, data from Insurance Business America reveals that 25 percent of the insurance workforce is expected to retire in 2018. The Bureau of Labor Statistics (BLS) predicts more than 200,000 open positions in the insurance industry will go unfilled. The crisis will deepen, as well. BLS estimates that almost half of today’s insurance industry workforce will head off to retirement in the next 15 years.

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