At 76.6 million, there are more millennials (born between 1981-1997, according to the Pew Research Center) than any other generation. Insurance agents need to know how to target this growing demographic, which holds $1.68 trillion in purchasing power.
Millennial consumers want insurance companies that provide the client-centric experience that they have become accustomed to, according to Applied Systems' “Why Millennials Matter” report. However, millennials still highly value in-person or over-the-phone experience with an agent. Below, a summary of findings from the report:
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
