WA brokers participating in a Vero expo have agreed that the retirement of the Baby Boomers generation won’t cause any problems for the industry.

Some 78% of brokers attending a Vero expo in Perth last week said Generations X and Y have shown the future of insurance is in good hands.

They were voting after a debate, with the Baby Boomers’ team leader – Vero’s EGM Intermediated Distribution Andrew Mair – conceding that despite a potential shortage of experienced underwriters, brokers, and risk managers, the next generation is capable of taking up the reins.

The Vero expo – the first held in Perth – attracted a large audience of brokers, and the centrepiece debate contained some serious points.

Mr Mair says technology is making insurance processes easier, but “people are always going to be crucial – insurance is all about relationships and technology will only get you so far”.

He says it’s vital the industry concentrates on succession planning and training programs so that the next generation can learn from the Baby Boomers.

“We’ve shown how well we can adapt to change and respond to major challenges like the global economic crisis and natural disasters,” he said. “This should give us confidence.”

Vero is also planning to host an expo for the first time in Adelaide next month.