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Younger business owners need a more hands-on approach

Compared with boomers, millennials and Gen Z require a 'significantly high touch' strategy when buying commercial insurance.

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"Digital natives are used to having more information and service options at their fingertips which raises the bar when it comes to insurance for their businesses," said Philip Charles-Pierre, CEO of Semsee. (Credit: paulaphoto/Shutterstock.com) “Digital natives are used to having more information and service options at their fingertips which raises the bar when it comes to insurance for their businesses,” said Philip Charles-Pierre, CEO of Semsee. (Credit: paulaphoto/Shutterstock.com)

When it comes to business owners belonging to the millennial and Gen Z cohorts, a high-touch strategy should be leveraged by commercial insurance agents, according to Semsee’s Small Business Snapshot survey.

During policy renewals, for example, slightly more than 80% of younger business owners want agents to present new pricing and coverage options before recommencing coverage each year. Just 63% of baby boomers said the same, according to Semsee.

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Steve Hallo

Steve Hallo

Steve Hallo is an assistant editor with PC360 Group. Prior to his current position, Steve spent nearly a decade covering retail transformation, consumer trends, manufacturing issues and supply chain challenges impacting global CPG markets. He can be reached at [email protected], and on LinkedIn and Twitter.  

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