Millennials say that insurance jobs are fulfilling and offer long-term careers, according to a Vertafore survey of 4,000 insurance professionals between the ages of 19 and 35.
More than 90% of respondents say that insurance careers meet important criteria essential for job satisfaction, including work/life balance, career development opportunities and financial stability. Because of these factors, 81% of respondents say they plan to remain in the insurance industry for as long as possible, an increase from 77% in 2015. In addition, 70% of respondents say they would recommend an insurance career to their friends.
“The insurance industry has turned over a new leaf with millennials, and we are in the midst of a technology revolution that is disrupting insurance and attracting a new generation of tech savvy talent that is optimistic about the future,” says Guy Weismantel, vice president of marketing for Vertafore. “Coupled with the qualities that a career in insurance offers, we see why the millennial generation is thriving in this industry and why more young professionals are looking at insurance for fulfilling, long-time careers.”
The survey reports that millennials are optimistic about the future of the industry and its ability to adopt technology. Despite the industry's reputation as laggard, millennials (86%) say that technology in the insurance workplace is increasing and “enabling them with tools to compete,” Vertafore says. Two-thirds of respondents say they are satisfied with their company's use of technology.
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