Two insurance industry experts discuss an aging workforce where the average employee is 59 or 60 years old. They describe the sector as "male, pale and stale" and explore how a wave of retirements will force mid-career professionals to adapt to younger talent and new ways of working.
We tend to be still be an industry, I'll say it, that is male, pale and stale. And the industry, I think the average age is still around 59 or 60 years old.
Yeah.
In your opinion, I mean what, what do you see that transition looking like? Because I think we've been, I feel like we've been talking about it for a long time, but it hasn't happened.
Yeah, you know, I don't know, to be honest. I think the transition is going to happen and that big wave is going to happen. Right. You're going to have a lot of retirement age individuals leave and then the middle aged as far as you and I are going to be left. And how we work and how we operate are completely different than what they are used to. Right. I, I say set in their ways because they've done this for so long. They've done this for 25, 30, 40 years, however long they've been in the industry. And then for us in the middle, it's, you've adapted to their ways, but you're also adapting to the younger generation waves. So you've got to be able to kind of change your thought process on everything. But I do think the wave is coming and I think it's going to be a bigger impact to our industry than what a lot of people are thinking.