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Millennials/Today's Customers and Insurance
In the digital age, it is absolutely essential for your agency business to have an online presence. Whether it’s a website with proper SEO, a social media page, or a combination of all three, getting your profile or agency online will reap major benefits. Even if you do not conduct business online, customers and potential customers are expecting to see you online. If they don’t see you there, you could be losing out on the opportunity to increase your customer base and get the word out about your business.
Now the largest generation of adults in India ( Over 700 Million) millennials (born between 1981 and 1997) have tremendous sway in the marketplace. Independent insurance agents must learn how to reach and retain younger consumers to remain competitive.
Team ICONIX recently surveyed more than 4,700 insurance customers (including 3,600 millennials) to learn how younger consumers purchase insurance, what they look for in an agent, and more. Even if they willing to take LIC Agency as a career.
Drawing on that research, ICONIX GOLD put together the resources below to help independent agents & agency managers understand millennial customers. This is the first of three reports exploring how agents can effectively attract and serve millennial customers.
WE ALSO PUT TOGETHER THIS SHORT REPORT SUMMARIZING SOME OF OUR KEY FINDINGS:
As previous generations retire and move to a life stage in which they consume fewer products and services, younger millennial and Gen Z adults between the ages of 18 and 38 are becoming more relevant to the insurance industry in terms of size and spending power & also they are creating strong influence if their elders going to buy Insurance or any other services .
As a marketing & technology partner of Individual Agents & DO's , we consider it our responsibility to inform insurance agencies about the latest industry trends. By imparting this knowledge, we strive to empower agencies to take advantage of new business models and servicing options by meeting the needs of the changing consumer that will make their businesses profitable .
THE NEXT GENERATIONS AND INSURANCE:
Understanding Buying Behaviors and Preferences of Younger Adults
Online presence , Positive reviews , online recommendations influence millennial's and Gen Z the most , when they are looking or buying insurance.
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