NIBA / Special Feature
NIBA’s Data to Direction report, which surveyed 418 brokers from across Australia, found that 11% are aged under 30, while 30% are aged 50 and over. The largest age groups are 30-39 (28%) and 40-49 (31%). While a strong representation of mid-career and senior professionals demonstrates experience, maturity and know-how in the profession, the relatively low numbers of younger people in the sector highlights an area of opportunity. Katrina Shanks, CEO of ANZIIF, says the figures indicate that more work needs to be done to attract young people into the profession. “Broking has always been a profession people tend to discover rather than actively plan for, with new talent often entering through networks, referrals or adjacent roles. “The low numbers of young people coming through to the insurance sector are disappointing and it does indicate that more work has to be done across all stakeholders – government, regulators, professional insurance bodies and the insurance sector itself to attract younger insurance professionals.”
While the challenges over presenting insurance as an attractive career path to young people are nothing new – we’ll come back to that particular issue shortly – Heath Francis, State Distribution Manager for NSW/ACT at Allianz, believes it’s been compounded by a couple of more contemporary factors. “It’s a big issue facing our industry, and it’s been affected by the rise of technology/AI, higher entry-level wages and offshoring, which has taken a number of those entry-level, data-processing roles which, while they are very admin-based, are an invaluable way of learning about the sector. “Another factor that does affect younger people coming through and learning about insurance and broking, is working from home – which has made things tougher as well. If you’re in the office, you hear conversations, learn from what’s going on around you, valuable insights that are difficult to replicate when working remotely, relying solely on emails and phone calls. Presenting insurance as a career of choice Progress is being made; however, it’s an ongoing process. Shanks says over recent years there’s been a real shift towards
presenting insurance as a deliberate and credible career choice, rather than people ‘falling in’ to the industry. “Professional education supports this by clarifying entry pathways, showing how different skill sets can translate into broking, and reinforcing standards that elevate the role,” she says. “For younger cohorts, particularly those motivated by purpose and impact, insurance and broking have a clear role in supporting communities, enabling businesses and responding to complex societal challenges like climate change. Making that more visible, alongside structured pathways into the profession, will be important in strengthening the pipeline. “Achieving that requires a more coordinated approach across the profession. Industry bodies can help by building awareness earlier, through schools, universities and broader career conversations, and by positioning broking as a profession that sits at the intersection of commerce, people and resilience. At a brokerage level, attraction is often shaped by the experience on offer. Structured entry roles, mentoring, flexibility and visible progression all signal that broking is not only accessible, but a viable long-term career.”
40 / INSURANCE ADVISER JUNE/JULY 2026
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