P R A D

Producer Hires by Age and Line of Business

3%

4%

4%

5%

11%

10%

12%

16%

16%

22%

24%

29%

29%

34%

33%

30%

42%

30%

28%

20%

All Producers Commercial Lines Employee Benefits Personal Lines

20s 30s 40s 50s 60+

Source: Supplemental survey

With few exceptions, the success rate increases with the age of the producer hired. This rate is impacted by the higher concentration of producers with books of business hired after age 40. Approximately three-quarters of all producers who were hired with a book of business were 40 or older when hired. In fact, when hires without a book of business are considered, the success rate actually goes down slightly after age 40 for commercial lines producers.

Success Rate by Age of Hire and Book of Business

85%

81%

81%

78%

78%

60%

58%

56%

54%

43%

20s

30s

40s

50s

60+

Hires with books

Hires without books

Source: Supplemental survey

When hiring producers from outside the industry, the results indicate those hired earlier in their careers are likely to have higher success rates. Producers hired from other industries prior to age 35 succeed at a rate of over 60%, while those age 35 and over succeed only half of the time.

21 Producer Recruiting & Development Study