An insurance agent’s guide to understanding the generation gaps

Guide To Understand Generation Gaps in Insurance

When it comes to pitching insurance policy sales to clients, as an agent, you simply cannot have a one size fits all approach. As an insurance agent, there are certain factors that you need to consider before trying to convert a prospect. One of these many factors is the age of the prospect. Due to major changes in technology development, it is certain that each generation has had a completely different experience, meaning these developments have had a role to play in cultivating people’s behavioral habits and their preferences. Basically, in order to successfully pitch insurance plans and their benefits to a prospect you need to know which generation they fall into and thereby figure out exactly how they like or prefer to receive information.

Let us understand the classifications of generations and where technology came into use for them.

First you have the oldest generations which consist of people born between the years 1928 to 1945, so their ages range between 73 -90 in the year 2018. Called the Silent Generation, they are not on social media but they are big users of telephone and e-mail. The best way to communicate with this generation is through the phone. Talking to them on the phone in order to set up a meeting or at the very least having a conversation and explaining what you do could be effective.

The next generation consists of the Boomers. Ages 54 -72 in 2018 and born between 1946-1964, these guys use phones, email and texting. The folks who do use social media mainly use Facebook over other social media platforms. Twitter is not popular with this age group at all. Reaching out via email and introducing yourself and offering to set up a meeting or at least send over information could be effective.

After the Boomers, comes Generation X. People with ages ranging from 38 to 53, born between 1965 and 1980 – this group in particular uses social media very frequently and spend a significant time browsing through the various products and services available on social media platforms like Facebook. Online advertising is your best bet here.

Millennials are the largest generation alive. With an age group of 21 – 37 in 2018 born within the years 1981 to 1997, these guys are the most active users on Facebook Messenger. Generally, these are the people you need to pay most attention to from a marketing perspective.

If you market insurance policies online, you are mostly going to get a huge response from this group of people. They know the internet, they understand social media like it’s their second language, so marketing insurance policy plans or you the insurance agent to this group online is the best way to get their attention. They also consume a lot of content, so you need to be careful that as an insurance agent, the content you share is good and reliable.

Millennials basically are an interesting lot of people. They have grown up during the time start of the digital era and have seen the shift from analogue to digital. They are the only generation that on instinct, know how to use technology but at the same time aren’t lost when speaking about floppy discs, dial up phones and dial up internet. However, the post – millennial generation Gen X, has been brought up with everything at the tip of their fingers. Using tech tools like Ipads isn’t even considered their second language, it’s a part of who they are and in fact they have no clue what a floppy disk even is.

Why is it so important for you, the insurance agent to know these distinctions between every generation? So, that you understand their personalities, their level of exposure to technology, and as mentioned above you are able to communicate in a way that enables them to hear and understand you. It is not your job to tell them what category they fall in, This, article is a guide line for your understanding and hopefully makes it easier to connect with your prospects in a way that is meaningful and fosters a connection with them in order to feel secure and confident to be a fulltime client.

Read more about How to become PoSP (Point of sale person) using MintPro app

Read more about How video add value to your insurance business

Read more about Qualities of a successful insurance agent

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