Selling Insurance Florida- Be Mindful
Selling insurance in Florida views each generation separately and figures out their exact behaviors in terms of their needs, spending, and savings. Selling insurance to different generations can be tricky sometimes. According to Inc.com, by 2025 millennials and Gen Z will combinedly contribute 75% of the workforce around the world. Thus, keeping the different generations in mind, coming up with few unique strategies to market the insurance can work in your favor.
Selling Insurance Florida- Baby Boomers
Baby boomers were generally born between 1946 and 1964. You have retired or are about to retire. They have a total population of 75 million and constitute the largest groups of the population. The local insurance agent should keep in mind that the best way to sell insurance is to be direct. Given their upbringing, baby boomers prefer face-to-face interactions through the overuse of technology. However, they find it difficult to adapt naturally to modern technological advances. No matter what, agents need to deal with client’s data. And any mishaps can put agents at risk. So, E and O insurance for insurance agents is crucial. E and O insurance is a form of professional liability insurance that covers businesses, their employees, and other professionals from allegations of poor work or carelessness.
Keeping in touch with them through email marketing also works best in terms of communication. What’s more, the most important thing is to gain confidence when selling insurance to baby boomers. Own your own insurance agency to sell insurance to baby boomers. You buy what you sell, but only when it’s clear and your intentions are known.
According to Wikipedia, Generation X was generally born between 1965 and 1980. In fact, they are the smallest generation. The group has only 66 million. This generation is relatively arrogant and conservative when it comes to funding management. It mainly includes people married with dependents. According to Deloitte, Gen Xers are often people looking for good value for money. They show a high level of brand loyalty. By offering certain products and using various marketing tools, you can also sell insurance to this generation. This generation wants to reduce debt while becoming financially independent.
Selling Insurance to Generation Y (Millennials)
Third, Generation Y is the largest group of generations. Seventy-two percent of the US population is millennial. They are known as digital natives. This generation of people is tech-savvy and adapts very quickly. They think differently about communication using different social media platforms like Facebook, Instagram, Twitter, Pinterest, etc. So, are you wondering about how to become an insurance broker who is successful? Then, social media platforms might as well be the key.
Therefore, we see different investment priorities. Only 25% of Gen Xers questioned the need to own a vehicle. While this suspicion was even lower among baby boomers (20%). There seems to be a big gap between the generations. Independent insurance agent needs to understand how these factors can affect insurance needs when selling insurance.
Generation Z was born between 1997 and 2011. Twenty percent of the population of the United States is made up of this generation. This generation believes in individuality and independence. Therefore, this generation wants to see more identifiable people in marketing campaigns. When selling insurance in Florida, keep in mind that the relativity factor is very important. One of the important characteristics of this generation is that it looks to the future with a broader view of the world.
Moreover, look out for information regarding the penalty for selling insurance without a license.