Are Millennial Insurance Buyers More Likely to Listen to Millennial Insurance Agents?

September 11, 2017

When you are young, who are you more likely to listen to – one of your peers or someone older than you telling you what you should do?

Studies show millennials depend on their peers’ opinions when it comes to making purchases from reading each other’s social media posts to online product reviews on Amazon. Why would buying insurance be any different? This is a follow-up to our post How to Hire Millennials – and Make Them Successful.

If you are hiring millennial producers for your agency, one approach to their sales efforts is to educate their peers about misconceptions they have about insurance. Here are just a few.

  • 48 percent of millennial respondents said driving a red car increases your premium (it doesn’t)
  • 35 percent said one’s home ZIP code does not affect the cost of auto insurance (it does).
  • Millennials are less than eager to educate themselves about health insurance because, they don’t think they need it. (they do.)

Read more in this interesting article “Millennial Meltdown: How Insurance Ignorance Puts an Entire Generation at Risk.” And, share this article with your millennial producers.

“ANE not only got me direct appointments but they’ve been there to support me and back me up when I needed it. ANE gives me the clout I need to be successful.”

Len Barone, President
The Lynoxx Group LLC
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