Why Insurance Agents Should Be Optimistic About the Millennial Market

Will Jones
Reading Time: 1 minute

Publication: IA magazine
Date: August 13, 2019

Tyler Asher, president of Independent Agent Distribution at Liberty Mutual Business Lines and Safeco Insurance, talked to IA magazine about how the rise of the millennial generation creates opportunities for independent agents.

In insurance, the perception persists that the millennial market is a tough one to crack. Various notions cast a cloud over this segment of the market, such as the idea that millennials don’t have the buying power, don’t value insurance and are unlikely to utilize the independent agent channel—especially for self-described “old fashioned agencies.”

However, recent research from Liberty Mutual and Safeco® tells a different story. When it comes to millennials, “the outlook for independent agents is really strong and our research shows that there is a significant opportunity,” says Tyler Asher, president of Independent Agent Distribution at Liberty Mutual Business Lines and Safeco Insurance.

“This is a demographic that will continue to dominate the market segment for the next few decades and is just now entering their peak earning years,” Asher continues. “We believe independent agents will win in this market because they have a competitive advantage that speaks really well to the millennial consumer segment—ease of doing business, choice in terms of breadth of offerings, and custom-tailored advice.”

Read the full story in IA magazine: 3 Reasons to Be Optimistic About the Millennial Market

about the author

Will Jones
Assistant Editor, IA Magazine

Will Jones is an English and Journalism graduate from the UK with permanent residency in the US.

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