Insurance products are an expensive wedge between a person and the ‘what ifs’. We know we need it and we spend a fortune protecting ourselves or providing for our family in case of the worst case scenario. But as Generation X matures and a new generation comes into adulthood, we have an opportunity for insurance companies to be more than a wedge, they can be an investment.
The next generations expect more from corporations; they use their dollars and endorsements and want to connect at a deeper level. As generations cycle, perceptions and expectations shift.
According to a an Elite Daily study on Millennials:
“They expect brands to give back to society. 75% said that it’s either fairly or very important that a company gives back to society instead of just making a profit. They are sick and tired of corporate greed and are still recovering in the aftermath of the financial crisis. Millennials love brands that support their local communities and would rather purchase from them than competitors.”
So why not show this rising generation how insurance companies are good corporate citizens? The profits aren’t just for the c-suite and shareholders. Show them that their premiums not only go to taking care of themselves and their families, but their communities as well.
Guardian Life, for example, brings their core values to life by investing in education.
“For more than 150 years, Guardian has been committed to having a positive impact on society through corporate responsibility. The initiatives we support are derived from our core values: people count, we do the right thing, and we hold ourselves to very high standards. ”
If you want to win with a new generation, you must show how their dollars are not just spent – but how they’re invested. Millennials are brand loyal and you won’t be disappointed. You get to grow your business and build your community.