What Millennials Want From Their Insurance Providers

Millennials may be grown up now, but they’re still an underrepresented group when it comes to the insurance market. That’s not to say that the group doesn’t need insurance or that they can’t afford insurance. In most cases, they simply haven’t felt particularly moved by insurance sales pitches, and they perceive insurance as having little value as most agencies target householders and families rather than on-the-go singles.

For agencies that taps into this market, Millennials will become loyal and enthusiastic brand advocates. Here’s how to win them over.

Engage Millennials in your content creation and curation

As digital natives, Millennials aren’t merely consumers; they’re also creators comfortable with showcasing inspiring images on Instagram, compelling videos for YouTube, and motivating playlists on Spotify. If you want to win the hearts of Millennials, give them powerful, authentic content to share. Better yet, invite them to become a content creator for your agency by putting out a call for testimonial videos.

Build your influence with Millennial influencers

Owing to the ease of social sharing, Millennials are more likely than previous generations to crowdsource information before making a purchase. They take time to read reviews on Yelp, Facebook, and Google, and they also seek guidance from their parents. Build up your influence with Millennials by broadening your agency’s social circle using Facebook and LinkedIn and by making reviews and testimonials highly visible on your website. Since Millennials do rely heavily on peer affirmation, they make powerful referral sources if you’ve already proven your agency’s value to them.

Align your agency with Millennial values

Millennials are an optimistic and action-oriented demographic. They expect honesty, authenticity, and community impact from the businesses they connect with. More than a third of Millennials would spend more money on a brand that supports a cause they believe in, and they gravitate towards businesses that contribute to a greater purpose. Show Millennials that your agency is committed to more than the bottom line by partnering with a local charity organization to make a difference in your community.

Protect what Millennials think is important

While many Millennials aren’t invested in traditional economic drivers like home buying and starting a traditional family, they’re highly invested in experiences and enjoyment. Consider adjusting your portfolios to reflect what Millennials value most. Offering competitive travel insurance, renters insurance, and insurance for startup entrepreneurs show that your agency cares about what Millennials most want to protect.

Provide a robust online presence

Millennials expect to be able to handle most purchases and interactions online easily. They’re more than twice as likely as older generations to purchase insurance online. Integrating chatbots onto your website is an easy and affordable way to create an environment that feels comfortable to tech-savvy Millennials. Insurance disruptors like Lemonade have scored big with Millennials by offering chatbot-driven buying and claims processing.

To create a rich, robust marketing strategy tailored to your ideal target market, contact the insurance marketing professionals at AgenciesOnline. We build comprehensive campaigns tailored to your niche markets.