Insurance companies and agencies can adapt their recruiting and hiring methodology to attract millennials by emphasizing the benefits and job satisfaction of working in the insurance business. (Photo: iStock)
The insurance industry has increased its focus on millennials, those individuals born between 1982 and 2000, for three major reasons:
|- Millennials have overtaken boomers as America's largest generation, and they buy insurance products and services;
- The insurance industry's talent and skills are aging, especially on the independent agent/broker side, and millennials are the future source of employees and owners; and
- Millennials show a strong inclination to become entrepreneurs at some point in their lives.
Real world perspective
Do millennials feel the same way about insurance whether they are buyers or sellers of coverage? To find out, I spoke with two millennials, one from the agency/broker sales and marketing perspective, and one from the buyer's perspective: Krystal Haney, a former colleague with whom I worked in a bank-owned agency, and David Shapiro, who has been an insurance client for several years.
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