At 76.6 million, millennials are the country's largestgeneration and also the fastest-growing consumers and employees.They bring $1.68 trillion in purchasing power to the table,according to the U.S. Census Bureau. Smart agencies will develop aplan to attract, serve and retain these individuals, as they willhave a great deal of influence on the profitability of insuranceagencies both now and in the future.

Applied System's “Why Millennials Matter” report, based on anindependent survey, discusses how millennials research and purchaseP&C insurance, and their concerns and behaviors regarding theinsurance industry.

First, a tutorial: Millennials include nearly 80 million peopleborn after 1980 in the U.S. They use mobile devices more than anyother generation and are constantly connected to the world aroundthem. Also referred to as “Gen Y,” Millennials have highexpectations of all businesses, including their employers.

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