The biggest mistake that agents make when trying to sell insurance to millennials is to only focus on selling insurance. Millennials don’t want to listen to your sales pitch, and they don’t want to do business with someone who is only focused on the bottom line. Stop selling insurance, and start selling your brand.
Millennials want to do business with companies that align with their values and sense of social responsibility.
What do you stand for?
Millennials want to feel like they are part of something bigger than themselves. They want to be a part of a movement and feel like they are making a difference. A purchase isn’t just a purchase; it’s a statement about who they are as people, what they stand for, and what they believe in. When you are trying to convince a millennial to invest in a P&C insurance portfolio, don’t focus so much on the insurance, but more on what you stand for as a company and what your brand is all about.
Make a difference
Corporate Social Responsibility (CSR) is more important than ever. CSR defines what you stand for as a company, and how you want to make a difference in the grand scheme of things. We may see millennials as impulsive, but more often than not, they are looking at the long-term impacts of their purchases and where they spend their money. A millennial will be more likely to purchase insurance from your agency if they feel like their purchase is going to help make a difference, either for the environment, the community, the country, or all of the above. CSR will attract millennials who are also looking to support brands and agencies that make a difference.
Focus on selling your agency's values and not insurance if you want to get the attention of the Y Generation.
Join a fast-growing independent insurance brokerage in Colorado, Arizona, and Utah
Affordable American Insurance (AAI) is a growing team of independent agents from Colorado, Arizona, and Utah. We are independent, but not alone. Under the guidance of an executive team of industry experts, we help captive agents transition to becoming independent agents, and we also help independent agents grow their business and increase their carrier representation.
When you join AAI, you get the tools, technology, and training to maximize your potential as an independent agent.