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Is the Millennial Generation the Next Wave of Insurance Professionals?

4 years ago, Written by , Posted in Insurance Industry, News

Insurance agencies are looking at ways to recruit millennials and retain them. According to statistics, about half of the current workforce in the insurance industry will retire in the next decade or so. Other statistics show that many professionals of the millennial generation aren’t aware of the industry as a viable career to consider. This needs to change, and it’s up to insurance agencies to start influencing young professionals in a positive way.

The millennial generation was born in the 1980s and 90s, and they are the fastest growing generation of professionals. An article states that over 40% of 42 percent of rising young professionals are not at all familiar with the insurance industry. It is crucial that agencies attract these individuals and present the industry as a rewarding and engaging career.

The article states that “A fundamental culture shift is needed to overcome this generational gap. Agencies must identify ways to best leverage the unique skill set and technology proficiency millennials possess to build out an agencies future business.” The best way to do this is by using innovative technologies to highlight the insurance industry’s attributes, keeping in mind that insurance is a service-driven and sustainable industry.

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