You want to know how to sell insurance to Millennials, but they're more than just a group of leads. Millennials are a powerful group of consumers, and they're an equally powerful group of employees. As you're hiring for insurance jobs, seek out Millennials as your future employees: you may be surprised at the interest this generation has in the insurance field.
Millennials Are the Up and Coming Generation
Let's face it: you need Millennials in your business. According to the Insurance Journal, "Almost half of insurance industry professionals are over age 45, with 25 percent of the industry expected to retire by 2018." Who will you hire? Today's twenty-somethings are part of the Millennial generation and they are looking for their career pathway.
Millennials Want to Help
Millennials want a job that is meaningful and helpful to the world. You need to show them that the insurance industry is that job. In return, you'll find a pool of employees who are inspired to make your insurance agency better and to serve your clients well.
Customization Is Key
When you're serving Millennials as clients, you need to have a high level of personalization. While Millennials enjoy making purchases online, they expect that offers and service will be customized to their needs. In a way, serving Millennials harkens back to the old-fashioned corner store, where employees know you and anticipate what you need. When you hire Millennials to work for your insurance agency, you're hiring employees who understand your customers' needs for personalized service.
Millennials Enjoy Diverse Opportunities
You know that the insurance industry is not just made up of insurance agents. It's made up a wide variety of jobs, including social media marketing and technology developments. Millennials need to know that there are many different opportunities to learn and grow within the insurance sector. Show them a spectrum of insurance jobs that they can move into over time. Millennials are flexible, adaptable, and want to share and grow their skills rather than staying in the same position. Your insurance agency can benefit from this inclination.
Millennials Love Innovation
Millennials are currently in their teens to thirties. They've grown up with the Internet. They're native to social media and, during their lives, innovation has moved quickly. They thrive on and quickly adopt new technologies. According to Logiq, "Another positive aspect of the big shift the industry is experiencing is that it introduces new jobs that didn’t exist before."
If you can show Millennials that your insurance business is adopting practices and technologies that are ahead of the curve, then they may be interested in working for your insurance agency. Millennials are also interested in contributing to advances, and if you have a workplace culture that honors innovation, they will find this very attractive. You'll get a motivated employee who wants to drive your insurance agency forward.
You Must Understand Each Generation
Of course, individuals are more than their generation. However, if your insurance agency is entirely staffed by people in their fifties, it can be more difficult to understand the challenges that Millennials face and the opportunities that they present to the insurance industry. That understanding comes a bit easier if you have a more age-diverse team. If you can offer opportunities for creativity and flexibility within an environment that also provides relatively secure job growth opportunities, then your insurance company could be exactly the place where Millennials want to work.
Are you interested in improving the ways that you do business? At American Agents Alliance, we're here to help you build and grow your insurance business. From staff training tips to networking opportunities, contact us to see how we can help your independent insurance company grow.