A key contributor to the industry’s ability to recruit and retain talented sales professionals is the professional development available to producers. According to the study, the most commonly utilized forms of professional development are continuing education and insurance company sponsored training, followed by industry trade associations and wholesale brokerage agencies (Figure 4; click to enlarge).
When we asked producers to evaluate the quality of each form of training they receive based upon the training’s contribution to their professional development and career success, the highest rated source of training is that provided by insurance companies, as well as continuing education (Figure 4). While only 61 percent of producers avail themselves of personal mentors, this form of professional development is the third highest rated in terms of quality.
When it comes to keeping up with information about the insurance industry, producers find insurance-specific media companies to be the most valuable source of information, followed by insurance company home offices and other agents (Figure 5; click to enlarge). Producers find the popular news media to be the least useful source of information about the insurance industry.