Brokers are still not succeeding in attracting more young people into the industry, a National Insurance Brokers Association (NIBA) event in Melbourne last week was told.

InterRisk Australia Principal Nick Hodges said more has to be done to sell to young people the benefits of being a broker.

“We need to speak about the benefits of being in the insurance industry,” he said. “We don’t get out and show the value the industry brings to consumers – we just talk about brands.”

Mr Hodges says the industry has to work harder at attracting new talent as it is competing against lawyers, accountants and other professions.

“We have to tell people insurance is a respected industry and attend the careers events to attract that talent,” he said.

“We need to form partnerships with the leading universities and see what Gen X and Y are looking for in their careers.”

NIBA board member Steve Ball says there is “a strong undercurrent of interest from young people (in the industry)”.

“We are seeing a number of kids from existing brokers who are coming into the business.”