How would you market insurance to millenials?

  • by ALEXANDRA
  • Oct 05,2019
  • 3 answers

How would you market insurance to millenials?


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Insurance Answers (3)

Casey Y last week

Tricky one. Check out the cool products out there that are already targeting millennials.
Start with the flashy websites, then drill down to the standard traditional carriers offering specific products to millennials, like Travelers and their Traverse program.
Shockingly, I think Pet Insurance is actually an interesting one. I was on a site targeting millennials for homeowners/renters insurance and they pushed pet insurance pretty hard. People are buying it at alarming rates (I don't like those products personally...) so its something to discuss.

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Amy last week

I'd go with a general theme of "be more responsible than your parents are."
You're not going to win anyone over with scary stories of the Bad Things that could happen. Millennials are fighting climate change and minimum wage; a car crash just doesn't sound that horrible in comparison. We know we need insurance, but we need a lot of things and there isn't enough money to pay for them all.
The overarching Millennial attitude is disappointment at how the previous generations f*ed up our world. Gen Z is angry, but millennials are tired. You can make buying insurance feel good if you present it as being morally superior to those irresponsible baby boomers.
The easiest sell here should be life insurance. Millennials are the right age to have small children, and they know they could die at at any moment. Emphasize that life insurance is how a good parent provides for their children in a dangerous world.
We're already primed by the political debate to want health insurance, which is still legally required despite Trump dropping the noncompliance penalty to zero. But it's expensive. For this you need to push the need to get insured before politicians change everything again, particularly the coverage of pre-existing conditions.
For homeowner's and car insurance you'll have to target rural areas, since urban Millennials don't have houses or cars. So focus on climate-change-related damage (tornados in New England; flooding in Oklahoma) instead of damage done by other people.
And of course you're not aiming at new drivers or parents of new drivers, you're aiming at the 35-year-old who can finally afford his first *nice* car.

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jhon last week

Millenials are much different than the previous generations. You have been selling insurance to the last few decades. When we attempt to sell insurance based on the age group to the consumer how we communicate to them be a priority consideration.Millenials do believe that how ever that trust advice become their advocate as long as their business their own.

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