Millennials say that insurance jobs are fulfilling and offer long-term careers, according to a Vertafore survey of 4,000 insurance professionals between the ages of 19 and 35.
More than 90 percent of respondents say that insurance careers meet important criteria essential for job satisfaction, including work/life balance, career development opportunities and financial stability. Because of these factors, 81 percent of respondents say they plan to remain in the insurance industry for as long as possible, an increase from 77 percent in 2015. In addition, 70 percent of respondents say they would recommend an insurance career to their friends.
"The insurance industry has turned over a new leaf with millennials, and we are in the midst of a technology revolution that is disrupting insurance and attracting a new generation of tech savvy talent that is optimistic about the future," Guy Weismantel, vice president of marketing for Vertafore, said in a statement. "Coupled with the qualities that a career in insurance offers, we see why the millennial generation is thriving in this industry and why more young professionals are looking at insurance for fulfilling, long-time careers."
The survey also says that millennials continue to be optimistic about the future of the industry and its ability to adopt technology. Despite the industry's reputation as laggard, millennials (86 percent) say that technology in the insurance workplace is increasing and "enabling them with tools to compete," Vertafore says. Two-thirds of respondents say they are satisfied with their company's use of technology.
Below, a summary of findings from Vertafore's "2016 Millennial Insights" survey:
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