A Look At Ways Millennials Are Changing Insurance Jobs
It’s not your grandfather’s industry any more. Massive demographic change will lead to massive changes in insurance jobs.
The millennial generation, the largest generation in U.S. history, is rapidly coming of age. By 2030, millennials will constitute 75 percent of the workforce. Along with an injection of youth, millennials will bring a common set of tools bound to alter insurance jobs.
Here’s a look at some of the ways the new generation is already altering the industry.
Technology changes the landscape
Millennials who grew up with modern digital tools have a different relationship with technology than older generations.
“Prospective customers have access to websites, social media and emails 24/7, so they can learn about an insurance company and its policies whenever they want,” according to StateCE. “These younger independent agents are taking hold of the industry and forging changes so they can do exactly what they want to become successful.”
Social media’s impact is inescapable
The affect social media has had on society is certainly mixed. But whether you like, loathe, or have mixed feelings about platforms such as Facebook, Twitter and Instagram, you can’t deny their power.
Millennials as a whole, though, are comfortable with social media, and often have a very good sense of how to use platforms to build business.
“Millennials use social media a great deal and often enjoy having an online public life,” according to StateCE. “The young agents are good at self-promotion and creating connections online. Social media is another method that millennials use to foster change as independent agents.”
A different approach to building relationships
Relationship-building is at the heart of most insurance jobs. Millennials bring new tools to this key aspect of the industry.
“Young agents often have their own websites outside of the company website,” StateCE writes. “Some agents also started blogs focusing on some aspect of the insurance industry. These methods help to establish the agent’s brand and set him apart from other agents.”