This research report was originally published in September 2019.
Liberty Mutual and Safeco Insurance surveyed more than 2,800 insurance consumers, including 1,600 millennials, to learn how they make decisions about purchasing insurance. One of our key findings was that millennials often use digital channels to learn about and choose agents.
Independent insurance agents must engage online to effectively attract and serve millennial consumers.
Digital engagement is an essential part of reaching millennial consumers
79% of millennials who don’t work with an agent say they could foresee themselves learning about an agent through digital engagement.
The channels they can see using:
- 53% Online search
- 28% Consumer/user review sites
- 20% Online ad
- 17% Facebook
- 15% YouTube
- 9% LinkedIn
Millennials research online when choosing one agent over another
How they choose:
- Positive online reviews – 43%
- Represent a well-known company – 41%
- Convenient location – 34%
- Social media engagement – 28%
- Modern website – 24%
- Availability of online chat – 19%
When looking for service on their policy, millennials are more likely than older generations to use multiple digital channels
96%
of millennials used at least one digital channel
50%
used four or more digital channels
Digital channels used for service in the previous 12 months
6 things agents can do now to elevate their online engagement
- Invest in a modern, mobile-friendly website
- Encourage and respond to online reviews
- Implement a social media content strategy
- Find technology tools that let customers contact you how and when they want
- Utilize video proposals and reviews
- Hire and train a dedicated marketer