Attracting “young blood” to insurance broking is one of the big issues facing the industry.

At a panel session at the National Insurance Brokers Association (NIBA) Convention in Perth last week, NIBA board member Alan Bishop said broker traineeship programs are more important than ever. “We need more qualified young people now to ensure the industry maintains the same levels of knowledge and expertise in the future.”

Mr Bishop was behind a joint venture between Apprenticeships WA and NIBA brokers to create the Western Australia Insurance Academy. School-leavers are able to join its program of theoretical and on-the-job training.

NIBA Professional Development Executive Linda Evans said NIBA has specified online educational tools through NIBA Education Online to help young people get ahead.

Austbrokers National Manager Network Services Greg McDonald talked about the cluster group’s young professionals program, in which 11 students have completed cadetships and seven are in the process of learning the job.

“These days it’s critical that cadets get variety,” he said. “Research shows that generation Xs and Ys are sponges for learning, and you’ve got to keep that going or they can lose interest.”