Four out of five millennials are "optimistic" or "veryoptimistic" that the insurance industry will evolve to attract thenext generation of insurance talent, due to productivity andefficiency gains from technology adoption, according to Vertafore'ssecond annual "Millennial Revolution" study.

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According to U.S. Census data, millennials outnumber babyboomers and are expected to make up half of the global workforce by2020. However, insurance needs to find a way to make the industryattractive and leverage this talent. 

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Year-over-year comparisons show that work/life balance is theNo. 1 reason why millennials stay in this industry, according toVertafore. Nine out of 10 millennials also identify theircompany's use of technology, particularly mobile andsocial media, as key elements contributing toward jobsatisfaction. "Phones and tablets are the last thingmillennials check before bed and the first thing they check in themorning. There's no question they're able to increase theproductivity and throughput of employees, but there is acorollary—customers are also connected," Anthony Gomes, Vertafore'ssenior corporate communications manager, tells PC360. "Theskyrocketing use of mobile technology should serve notice toleaders in companies that consumers expect access to companies ontheir own terms in timelines they define for themselves, and thatmillennials are always connected, looking for ways to drive newbusiness through that technology."

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Below, additional findings from Vertafore's report. Click imageto enlarge.

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