Millennials and The Future of the Insurance Industry
As stated in a recent industry publication, the goalposts for the life insurance industry are shifting, driven in part by the expectations of the next generation of customers who represent an enormous area of growth for new policies that will be issued over the next 25 years. While they will continue to be awoken to the need and importance of life insurance by the same traditional key life events—marriage, having children, family health scares—their expectations of how the industry will help them understand coverage options, and experience getting coverage in place is markedly different to their parents’ expectations and experiences.
Life insurance marketers are scrambling to understand the Millennial audience, its expectations, needs and preferences. As mentioned in our previous post, traditional consumer research often falls short when it comes to uncovering true, actionable insights. What insurance marketers are clamoring for are findings that will show them exactly what to say to Millennials, and how and where to say it. If you would like to know how to develop marketing that reaches the SOUL of the Millennial consumer, request our free ebook today.