Today, millennials represent the largest living generation in the United States.
Millennials altered what has been considered the norm for previous generations with new purchasing patterns and social behaviors. Brands must reinvent their marketing strategies to engage this unique group.
In the past, young adulthood was when people started families, acquired assets, and sought out both property and casualty insurance. This is no longer the case with millennials as they fall short when it comes to savings, investments, and even insurance.
Due to this generation’s unique nature, insurance brands need to have a rich understanding of how millennials think and behave to successfully market to them. Insurers must develop and execute a comprehensive strategy designed to reach and engage millennial customers.
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