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1/14/2006

insurance industry: how to destroy more jobs?

from a workforce of more than 20,000 agents to 13,000 today. that must be a great way to create jobs. from an attractive profession that provides a decent and good livelihood, many agents are trying to make ends meet. that is another great achievement. why has a flourishing industry that supports a huge and happy workforce been battered to a state that joining the industry is a case of no better choice? i wonder how many other industries are facing the same plight? maybe insurance agents will do better if they call themselves entrepreneurs. that title will entitle them to earn more and be respectable. is it because the insurance agents were earning too much and people begruded their high income? and they were able to afford big cars and big houses, which probably make people's eyes turned from green to red. one thing for sure, these agents or the industry were not in a position to tell the world that they are professional people and deserve to be paid well. and, because they are able to provide a good level of service and professionalism, they should be paid more than a peanut. i find it very odd that the insurance people are not able to demand to be paid well and demand to be respected while people working in non profit charitable organisations can demand such high respect and high income. qualification may be a factor, i think. they should create an insurance university and award all the agents with first class honours and doctorate. i think that might help. once they get the papers, their work scope can be that of a clerk. but all they need to do is to give themselves a big title and pay accordingly. people will accept that formula. the game will be different if the insuracnce people were able to justify their own value and income and decide how much theyshould be paid. they can even create more jobs with better job titles to be paid more....only if they could not be questioned. i think many insurance agents would qualify for workfare bonuses.

2 comments:

Speedwing said...

I have this impression that insurance agents are a rather well-off lot. They always seem to be making loads of money. Are you saying that I have a wrong impression of them?

I do not think they will qualify for the workfare handouts.

redbean said...

hi speedwing,

i think you are out of touch by 10 to 15 years. they used to be until some gods got better ideas.

same as the housing agents and the stockbroking agents. many would qualify for workfare.


you only hear a very few exceptions who are doing only ok. i am sure you have not heard of conveyancing lawyers folding up and even quitting law practices?