The purchasing habits of millennials are difficult to figureout, and as the largest generation in the U.S., your insurancebusiness’ future depends on your ability to reach them.
Revealed in a recent study commissioned by Effective Coverage and performed by ORC International, what we do know about millennialsis that they aren’t likely to purchase home and renters insurancefrom local agencies. In fact, 18-29-year-olds are 50% less likelythan their parents to purchase from local representatives. Of allthe groups surveyed, millennial renters were the least likely topurchase policies from individual agents. Forty percent of all agegroups surveyed purchased home insurance policies from localinsurance agencies, yet only 24% of millennials followedsuit.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
