Research Report: Demonstrate Value to Millennial Consumers
The third research report in our series on millennial insurance consumers explores how agents can show customers their value.
Independent insurance agents offer customers so much value – from expert advice to excellent service to help with claims issues and more.
However, according to Liberty Mutual and Safeco research, many insurance consumers do not fully grasp the value of agents. This is especially true of younger consumers, who are more likely than older generations to buy insurance online and do their own research into insurance options.
Liberty Mutual and Safeco’s survey of more than 2,800 insurance consumers (including 1,600 millennials) found that many millennials believe they could replicate the work an insurance agent does for them on their own. Millennials are also more likely than older generations to take independent actions while working with an insurance agent.
To attract millennial customers, independent insurance agents need to show how they add value beyond just getting customers low prices. We put together the resources below to help IAs think through how to effectively demonstrate their value to consumers of all ages. Click through the links below to see the resources:
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Research Overview
Get a one-page overview of our millennials research
Download a simple, one-page overview of some key insights from all three of our research reports about millennial insurance consumers to talk through with your staff.