Millennials & Insurance

Millennials are the hardest age group to reach. But, it isn’t just the insurance industry that is suffering at this point.
Millennials are leaving many companies scratching their heads on how to attract the next generation of workers. There
are many falsified ideas of Millennials and their work ethic as well as their ideas of work. Not only are companies having issues hiring Millennials, they are also finding it difficult to sell insurance to them. Below you’ll find information on how to make the insurance industry attractive to Millennials and a few links on selling insurance to them.
Millennials as the Next Insurance Generation
The Hartford’s 2015 Millennial Leadership Survey shows that 80% of Millennials consider themselves leaders right now and 69% showed they want to be leaders in the next 5 years. These are great results until you look at the least appealing industries to Millennials: construction, retail or manufacturing.
This outlook isn’t very good for our nation’s next chapter. If you’re interested in gaining Millennial interest in your company, consider these different recruiting tactics:
  • Flexible work schedules.
  • Benefits, such as health, life, and
  • disability insurance.
  • Career advancement and
  • leadership opportunities.
  • Merit-based salary increases every
  • six months.
Vertafore also completed a survey and found that technology was an appealing aspect to attracting Millennials because it can provide overall job satisfaction based on flexibility and career opportunities.
If you’re wanting to jump on the Millennial train, consider MyPath and participating in the Insurance Careers Month program.
How to Market Insurance to Millennials
Not only are agents having issues connecting careers with Millennials, but they are also having issues marketing to them. We’ve recently posted several articles address how to market to Millennials. We also recommend checking out Constant Contact’s 10 Commandments of Millennial Marketing. See below for links:

The Insurance Connection is the Master Agency for the Strategic Independent Agents Alliance (SIAA) in the western portion of Ohio.