Generation Z is reshaping industries, including insurance, with their digital fluency and a strong sense of social responsibility. This generation values seamless digital experiences, ethical business practices, and personalized services with focuses on these areas:
- Customer Service: Responsive communication through digital channels and social media.
- Ease of Use: User-friendly interactions via mobile apps and online platforms.
- Trust & Transparency: Clear, upfront information on policies and pricing without hidden fees.
- Support: A preference for responsive, self-service options.
Marketing Strategies for Gen Z
To engage Gen Z effectively, agencies should adopt tech-driven, data-focused strategies:
- Clarity: Provide transparent pricing and clear terminology.
- Digital Channels: Invest in user-friendly apps and websites that enhance customer experience.
- Personalization: Leverage data analytics to tailor communications and products to individual preferences.
- Social Media: Use platforms like Instagram, TikTok, and YouTube to share engaging, relevant content.
Additionally, offering tailored insurance products that align with Gen Z’s priorities—such as coverage for digital assets, cybersecurity, and mental health services—can resonate deeply with this generation’s unique concerns.
Gen Z’s Impact on the Workforce
By 2025, Gen Z will comprise over 25% of the workforce. Born between 1996 and 2012, this generation is naturally suited for agency life due to their digital-native skill sets and collaborative nature. The Independent Agency System, often overlooked by younger workers, is now uniquely positioned to appeal to them through opportunities to build businesses, chart individual paths, and embrace authenticity.
Agency owners should consider adapting systems and policies to empower Gen Z employees. By rewarding teamwork and individual performance, leveraging their diversity, and encouraging innovation, agencies can create an environment that aligns with this generation’s values and skills.
Opportunities for Independent Agencies
To attract and retain Gen Z talent, agency leaders should:
- Encourage Innovation: Involve them in shaping technology and market changes.
- Embrace Diversity: Utilize their varied perspectives to explore new markets and solve challenges.
- Support Education: Offer self-directed learning opportunities, business classes, and professional development.
Helping agency leaders evolve their approach to recruitment and management can drive growth and prepare agencies for future success.
Here’s how OIA can help: Each summer, HR Solutions at OIA coordinates a summer internship program with member agencies. The purpose of the internship program is to expose students to careers in independent insurance agencies. While the primary target for the program is business, marketing and entrepreneurial business majors in their junior or senior years of college, the program also includes students at community colleges interested in exploring IA careers. Our goal is to raise visibility of the insurance industry and independent agency system among college students and to create interest in the industry as a career option for young professionals.
Interested agencies can reach out to our team, and from there, we will partner with you to create a plan for recruiting interns. Once we have an understanding for members that would like to participate, we then register and attend college career fair local to the agency’s office.
Want to learn more about our internship program, or need assistance with hiring Gen Z talent? Contact our HR Solutions Director, Brian Lawrence, at Brian@ohioinsuranceagents.com, call directly at (614) 552-3048, or use our toll-free number 800-555-1742.
Legal Disclaimer: This material is intended to provide you with general background and insight. The material does not constitute, and should not be regarded as, legal advice regarding any particular facts, circumstances, or issues. This material is not intended to serve as a substitute for legal counsel, and we advise you to contact legal counsel for specific analysis, drafting and advice.
More Information: Seek your trusted advisors Attorney, Banker, and CPA that your legal and financial interests are adequately protected. The information provided in this publication is not intended to be a substitute for legal advice. You should consult your legal counsel and make certain that you are in compliance with state law. These laws and rules are subject to change. If you have more questions about this guide, you can contact: OIA at (800) 555-1742 for the most up-to-date information.
About the Author:
Jeannine Giesler, CISR, CPIA, and past President of the OIA Board of Directors, Foundation for the Advancement of Insurance Professionals, currently serves as Resource Center Advisor for the OIA. The purpose of the Resource Center is to contribute to building a comprehensive library of resource materials for our members. We pride ourselves on being the one-stop shop for all OIA members and work to solve every problem or situation you may come across.
Cited Resources:
By Geoff Keast | March 18, 2024
Millennials And Gen-Z Reshaping Conventional Industries
By Berger Former Contributor
Feb 07, 2023, 05:45am EST
Tomorrow’s Insurance Agent: Leveraging New Skill Sets Next Gens Bring to the Table
By Tony Caldwell | March 4, 2024
McKinsey
June 26, 2023
