Race to train brokers in preparation for succession is getting faster

Brokers across Canada are recognizing the need to upskill and reskill faster, particularly as retirements ramp up, regulatory and customer expectations rise, and new risks emerge.

Broker association leaders tell Canadian Underwriter the challenge now is helping brokers develop technical expertise sooner, while preparing the next generation to support clients and sustain the profession long-term.

In addition to increasing market pressures, the industry has a limited window to transfer knowledge before experienced brokers retire, making accelerated skills development and succession planning urgent.

“The weight of the knowledge transfer needed from experienced brokers who will retire in the next five years is one of the top priorities brokers talk about across Canada,” says Julie Skelton, executive director and chief operating officer of the Insurance Brokers Association of British Columbia. “We don’t have 10 years to build an experienced broker. We have five at best.”

Growing pressures and opportunities

As the industry evolves, brokers are in a constant state of learning, upskilling and reskilling, says Skelton. “They must pivot to learn what’s changing in the world around them daily. New brokers face a steep learning curve, while seasoned brokers are constantly in ‘refresh mode.’”

In Ontario, upcoming regulatory reforms are driving an urgent focus on developing brokers’ technical expertise.

Pamela Derksen, incoming president of the Insurance Brokers Association of Ontario, tells Canadian Underwriter brokers are prioritizing auto insurance training to prepare for major accident benefits changes taking effect July 1.

“These updates require brokers to sharpen both communication and workflow skills as we prepare to translate new, complex information into clear, digestible advice for consumers,” Derksen says. “Adaptability is essential.”

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Both leaders say brokers must also develop expertise in emerging risk areas, including AI and cyber.

“On the commercial side, assessing client exposures related to AI and emerging technologies has become an increasingly important competency,” Derksen says. “Brokers who want to grow their businesses must keep pace with rising client expectations, increasing carrier standards, and shifting market and regulatory dynamics.”

Talent shortages also create opportunity to accelerate skills development, she adds. “For individual brokers, they can open the door to stretch assignments, expanded responsibilities, and the chance to bring fresh perspectives.”

Overcoming challenges

With heavy workloads and client demands, brokers can’t rely on formal training alone.

“Given the time pressures many brokers face, upskilling may increasingly need to happen through on-the-job learning,” Derksen says. “Leadership support will be critical so brokerages can create space for development while maintaining service standards.”

Brokers also need to leverage technology to alleviate administrative pressure and meet client expectations, Skelton says.

“Working smarter not harder is how brokers tend to frame their planning for 2026,” she says. “Adapting a tech stack to automate administrative tasks that don’t require broker skillsets will be vital to how brokers focus on their primary value: advising consumers.”

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Race to prepare the next generation

To sustain the broker profession, brokers should rethink how quickly expertise can be developed and transferred, and new talent can be attracted and developed, both leaders say.

Strategic plans must not only focus on recruiting new talent, but on the ‘stick-and-stay’ factor of retention, Skelton says.

“We need to ask how we can best support that experience knowledge transfer,” she tells CU. “We also need talent to ‘see’ our industry as a career choice and draw in the talent now to prepare them for the future. 

“It’s a great opportunity as an industry to control the narrative, attract the talent, build the next generation, and use the technology available to make this a true career worth pursuing.”