What does this mean for you and your customer?

Ease of doing business with your agency. Insurance products and services that request a substantial amount of detailed consumer information up front have an antiquated view of improving the ease of doing business for both consumers and producers. Limiting the amount of information the consumer is expected to recall or register, can help you better quote and match the consumer with the right insurance carrier faster. Specifically for this demographic, pair them with an insurer that uses the latest technology that accelerate the policy application process, thereby valuing their time.
Improve the customer/agent/broker experience. Provide the consumer with a web-based application, agnostic of device that can be quickly accessed on the internet, and affords an intuitive user interface. Expand the capabilities by offering a self-serve model that would empower the consumer to manage and monitor their accounts on-line, including but not limited to invoices, payments, claims, questions/concerns and important push notifications. What's more, your attention to what is required of them demonstrates that you truly are a trusted advisor.
Leverage the mobile platform. More than 700 million smartphones shipped worldwide in 2012. Over 133 million people in the U.S. owned a smartphone as of first-quarter 2013. Tablets hit 10% penetration of the market in less than three years, faster than any technology ever. The personal computer market is steadily dwindling and giving way to smartphones and tablets. Implementing, supporting and enhancing mobile technology will be an indispensable tool catering to the new demographic, and also improving the efficiency of the producer workforce today and into the future.

The number of Millennial homeowners is growing and with it, the volume of quotes demanded. With the great expectations of this generation comes great opportunity for the agent and broker. By applying seamless data to lift the burden from the customer, the agent can improve the overall experience and build a stronger relationship with the customer.

Special Reports /

3 Ways to Tailor the Insurance Experience to Millennial Homeowners

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