Date: June 24, 2019
PC360 covers Liberty Mutual and Safeco Insurance’s new research on millennial insurance consumers.
Millennials have been accused of “killing” marriages, golf and homeownership. They’ve even been blamed for the demise of the napkin.
But one thing millennials have not messed up — to the surprise of many — is insurance.
According to a recent study from Liberty Mutual and Safeco Insurance, millennial insurance consumers align more closely with older generations. With more than 73 million millennials in the U.S. in 2019, this consumer group can present a massive opportunity for independent agents and brokers.
The study, which surveyed approximately 2,860 consumers, including roughly 1,600 millennials, 600 Gen-Xers and 600 baby boomers, sought to learn about the differences in attitudes toward insurance, what influences millennial purchasing decisions, and how independent agents can attract younger customers to compete with direct-to-consumer carriers.
Read the full article at PC360: Millennial myths: What agents and brokers need to know