This ebook, designed and illustrated for Applied Systems, targeted millennials in their industry- the fastest-growing generation of consumers and employees. Individuals born between the years of 1980 and 1996, they have captivated the consumer marketplace and are becoming the workforce of the future. As they proliferate as customers, business partners and employees, they bring their own unique set of values and expectations to the market. For insurance agencies, the rise of millennials requires a strategy in the way they attract, serve and retain this younger generation. Read this ebook to learn who millennials are and why they matter to your business.

1. WHY MILLENNIALS MATTER
THE FASTEST-GROWING GENERATION OF CONSUMERS AND
EMPLOYEES IS MILLENNIALS. INDIVIDUALS BORN BETWEEN
THE YEARS OF 1980 AND 1996, THEY ARE THE FOCUS OF
NEWS COVERAGE, POLITICAL CAMPAIGNS, MARKETING
DISCUSSIONS AND EMPLOYMENT POSTINGS. MILLENNIALS
HAVE CAPTIVATED THE CONSUMER MARKETPLACE AND
ARE BECOMING THE WORKFORCE OF THE FUTURE. I AS
MILLENNIALS PROLIFERATE AS CUSTOMERS, BUSINESS
PARTNERS AND EMPLOYEES, THEY BRING THEIR OWN
UNIQUESETOFVALUESANDEXPECTATIONSTOTHEMARKET.
FOR INSURANCE AGENCIES, THE RISE OF MILLENNIALS
REQUIRESSTRATEGYINTHEWAYTHEYATTRACT,SERVEAND
RETAIN THIS YOUNGER GENERATION. POWER IN NUMBERS
IMILLENNIALSARECURRENTLYTHELARGESTGENERATION:
76.6MILLIONIMILLENNIALPURCHASINGPOWER: $1.68TRILLION
AVERAGEHOUSEHOLDINCOMEOFAMILLENNIAL:$60,000
I EXECUTIVE SUMMARY I TODAYS, AGENTS MUST LEARN
TO MEET MILLENNIAL EXPECTATIONS AND DEMANDS WITH
INNOVATIVE TECHNOLOGY, BUT ALSO REMAIN A TRUSTED
ADVISOR. AN INDEPENDENT SURVEY AND MILLENNIAL
AGENT INTERVIEWS PROVIDE INSIGHT INTO HOW THE
MILLENNIAL GENERATION IS SHAPING THE INSURANCE
INDUSTRY, NOT ONLY AS NEW EMPLOYEES IN THE WORK-
FORCE, BUT ALSO AS ONE OF THE FAST-GROWING
DEMOGRAPHICS OF CONSUMERS PURCHASING INSURANCE.
UNDERSTANDING THE MILLENNIAL CONSUMER I MILLENNIAL
SURVEY: STRIKE A BALANCE BETWEEN TECHNOLOGY AND
TRUSTEDADVISORIMILLENNIALCUSTOMERSAREATTRACTED
TOINSURANCECOMPANIES WHO PROVIDE THE CUSTOMER-
CENTRIC EXPERIENCE THEY HAVE BECOME ACCUSTOMED
TO WITH OTHER INDUSTRIES AND BUSINESSES. HOWEVER,
MILLENNIALS STILL HIGHLY VALUE AN IN-PERSON OR OVER-
THE-PHONEEXPERIENCEWITHANAGENT.IAPPLIEDSYSTEMS
SPONSORED A SURVEY CONDUCTED AMONG A SAMPLE
OF 1,000 ADULTS BETWEEN THE AGES OF 18 AND 34.
THE FINDINGS ILLUSTRATE HOW RESPONDENTS SHOP
FOR INSURANCE COVERAGE AND INTERACT WITH THEIR
INSURANCE COMPANIES. I OUT OF THE 1,000 SURVEY
RESPONDENTS: 91% HAD SOME FORM OF P&C INSURANCE
COVERAGE89%HADAUTOINSURANCE55%HADHOMEOWNERS
42% HAD RENTERS MULTICHANNEL OPTIONS ARE NEEDED
TO SELL INSURANCE I OF THE 89% OF MILLENNIALS
SURVEYED THAT HAD AUTO INSURANCE: 37% PURCHASED
IN PERSON 35% PURCHASED ONLINE 28% PURCHASED
OVER THE PHONE FINDINGS: MILLENNIALS SPLIT THEIR
AUTO INSURANCE PURCHASES BETWEEN IN-PERSON,
ONLINE AND TELEPHONE SALES. INDEPENDENT AGENTS
MUST HAVE AN EFFECTIVE ONLINE PRESENCE, OR THEY
STAND TO LOSE A LARGE SEGMENT OF THE MARKET. THESE
RESULTS ALSO INDICATE THAT THE ROLE OF THE AGENT AS
A NEW GENERATION FOR INSURANCE I ACCORDING TO
THE U.S. BUREAU OF LABOR STATISTICS AND AARP, WITHIN
15 YEARS AS MUCH AS 50% OF THE CURRENT INSURANCE
WORKFORCE WILL RETIRE. WITH A SEGMENT OF THE WORK-
FORCE ON THE VERGE OF RETIREMENT, INDEPENDENT
AGENCIESNEEDTORECRUITANEWGENERATIONOFTALENT
BUT TO DO THAT, MILLENNIALS NEED SOME CONVINCING
THAT INSURANCE IS AN INNOVATIVE AND REWARDING
CAREER TO CONSIDER. I THE PERCEPTION AMONG SOME
RISING YOUNG PROFESSIONALS IS THAT INSURANCE IS
SUITED MORE FOR AN OLDER WORKFORCE, WHILE OTHERS
HAVE LITTLE OR NO FAMILIARITY WITH THE INDUSTRY. I
FAMILIARITY WITH THE INSURANCE INDUSTRY 42% NOT AT
ALL FAMILIAR 36% NOT TOO FAMILIAR 17% SOMEWHAT
FAMILIAR 5% VERY FAMILIAR I WHILE THERE CAN BE SOME
RELUCTANCE BY MILLENNIALS TO PURSUE AN INSURANCE
CAREER, INDEPENDENT AGENCY EMPLOYERS I CAN MAKE
A STRONG CASE WITH THESE THREE POINTS: 1. INSURANCE
IS EVOLVING WITH TECHNOLOGY - INSURANCE BUSINESSES
ARE INCORPORATING MODERNIZED TECHNOLOGY
THAT TRANSFORMS THEIR OPERATIONS. 2. INSURANCE
IS DRIVEN BY SERVICE - THE INSURANCE INDUSTRY
SERVES AN IMPORTANT COMMON GOOD BY PROTECTING
INSUR EDS ASSETS. THE FUNDAMENTAL PURPOSE AND
PROMISE OF THE INSURANCE INDUSTRY - TO PROTECT WHAT
THETECHNOLOGYPREFERREDBYMILLENNIALSIACOMMON
DENOMINATOR AMONG MILLENNIALS IS THE NEED TO BE
CONSTANTLYCONNECTEDTOTHEWORLDAROUNDTHEM.
DIGITALTECHNOLOGYISANINTEGRALPARTOFTHEIRLIVES
ON A VARIETY OF DEVICES WITH NUMEROUS APPS.
MILLENNIALS ARE DRIVEN BY A NEED TO INTERGRATE
EVERYTHING THEY DO INTO THEIR OWN ENVIRONMENT.
I MILLENNIALS ALSO WANT TO STAY CONNECTED TO THEIR
FRIENDS AND CO-WORKERS AT ALL HOURS, THROUGH
TEXTING AND SOCIAL MEDIA. THE ABILITY TO MULTITASK
AND SHARE RELEVENT INFORMATION IS ESSENTIAL TO THE
MILLENNIAL’S PRODUCTIVITY. CONSUMER TECHNOLOGY
IS ENTERING THE WORKPLACE, AND THERE IS STRONG
DEMAND FOR PERSONAL TECHNOLOGY TO INTERACT
WITH CORPORATE SYSTEMS. 90% OF MILLENNIALS
EMAIL, TEXT AND CHECK SOCIAL MEDIA BEFORE THEY
EVEN GET OUT OF BED 87%
HAVE A FACEBOOK ACCOUNT, 41%
UPDATE THEIR STATUS DAILY I 90% SHOP ONLINE,
57%SHAREEMAILADDRESSESTOGETDISCOUNTSISMART-
PHONESARETHEDEVICEOFCHOICE,FOLLOWEDBYLAPTOPS,
THEN TABLETS I KEEP MILLENNIALS CONNECTED TO
YOUR BUSINESS I TO ATTRACT AND RETAIN MILLENNIALS,
INDEPENDENT AGENCIES MUST IMPLEMENT TECHNOLOGY
THAT SUPPORTS BOTH PRODUCERS AND PROSPECTIVE
UNDERSTANDING
THE INSURANCE
INDUSTRY’S
FASTEST-GROWING
CONSUMER BASE
AND WORKFORCE
WHAT IS THE MILLENNIAL GENERATION? ALSO REFERRED
TO AS GENERATION Y OR THE YAYA DEMOGRAPHIC,
MILLENNIALS HAVE STRONG OPINIONS, DEMANDS
AND HIGH EXPECTATIONS OF ALL BUSINESSES, INCLUDING
THEIR EMPLOYER. THEY WILL HAVE A GREAT DEAL OF
INFLUENCE ON THE PROFITABILITY OF INSURANCE
AGENCIES NOW, AND FOR YEARS TO COME. DEMOGRAPHIC
STATISTICSCONCERNING US MILLENNIALS I ONLY 21% OF
MILLENNIALS ARE MARRIED, WHILE 42% OF BOOMERS
WERE MARRIED AT THEIR AGE 1 IN 4 HAVE A BACHELOR’S
DEGREE OR HIGHER, MAKING THEM THE MOST EDUCATED
GENERATION I MILLENNIALS ARE THE MOST ETHNICALLY
AND RACIALLY DIVERSE GENERATION I 38% OF MILLENNIALS
AREBILINGUALI MILLENIALSLIVEINURBANENVIRONMENTS,
DISAVOWING THE SUBURBAN PICKET-FENCE MYTHOLOGY
I MOST NOTABLY, MILLENNIALS ARE TRUE DIGITAL NATIVES,
ANDTECHNOLOGYANDSOCIALNETWORKINGAREINHERENT
TOTHEIRNATURE.IACCORDINGTOTHEYAYACONNECTION:
I MILLENNIALS NAVIGATE SEAMLESSLY BETWEEN DEVICES
I ALWAYS CONNECTED, MILLENNIALS SEND UPWARDS
OF 100 TEXTS A DAY I 80% OF MILLENNIALS VISIT SOCIAL
MEDIA SITES DAILY AND MORE THAN HALF USE MOBILE
DEVICES TO DO SO. AN ONLINE SEARCH IS THE FIRST STOP
TO FINDING A SOLUTION FOR 71 % OF MILLENNIALS. ONCE
THEY GO ONLINE FOR SUPPORT, MILLENNIALS EXPECT A
MILLENNIALS ARE EVOLVING I THE INDUSTRYTODAY, THE
MILLENNIAL GENERATION IS SHAPING THE INSURANCE
INDUSTRY, NOT ONLY AS NEW EMPLOYEES IN THE
WORKFORCE, BUT ALSO AS ONE OF THE FAST-GROWING
DEMOGRAPHICS OF CONSUMERS PURCHASING INSURANCE.
AS BUYERS AND SELLERS OF INSURANCE, MILLENNIALS ARE
INFLUENCING HOW THE INDUSTRY OPERATES AND BRINGS
PRODUCTS TO MARKET. I THE IMPACT OF TECHNOLOGY
ON THE INSURANCE INDUSTRY TO SUPPORT THE ROLE OF
THE TRUSTED INSURANCE ADVISOR, INDEPENDENT AGENCIES
ARE DEPLOYING INNOVATIVE TECHNOLOGY SOLUTIONS,
INCLUDING CLOUD-BASED AGENCY MANAGEMENT SYSTEMS,
ONLINE CUSTOMER PORTALS, AND REMOTE-ACCESS
SOLUTIONS. I OFFERING MULTICHANNEL ENGAGEMENT
THROUGH DIGITAL TECHNOLOGY ALLOWS AGENTS TO
ATTRACT & RETAIN MILLENNIALS CUSTOMERS AND
EMPLOYEES. I BY ACTING AS A TRUSTED ADVISOR AND
PROVIDING THE TECHNOLOGY MILLENNIALS SEEK,
INDEPENDENT AGENTS ARE BUILDING A TECHNICALLY
SAVVY, WELL-CONNECTED WORKFORCE, SUPPORTED
WITH ROBUST, MODERNIZED SYSTEMS THAT ATTRACT
AND RETAIN THE EMERGING MILLENNIAL CUSTOMER
BASE. UNDERSTANDING THE VALUES, WORK REQUIREMENTS
AND PURCHASING HABITS OF MILLENNIALS ENABLES
AGENCIESTOEVOLVETHEIROPERATIONSASTHISGENERATION

2. WHY MILLENNIALS MATTERTABLE OF CONTENTS
Introduction
PG 3
Millennials and
their impact on the
insurance industry
PG 4
Executive
summary
Chapter 1
PG 5
Who are millennials
and why do they
matter to your
business?
What is the millennial
generation?
PG 6
Millennials:
A challenge and
opportunity for
agencies
Chapter 2
PG 8
Understanding the
millennial consumer
Millennial survey:
Strike a balance
between technology
and trusted advisor
PG 8
Survey description
PG 9
Referrals and
homeowner results
PG 10
Communication
channel results
Chapter 3
PG 11
A new generation
for insurance
Turning millennials
toward insurance
PG 12
Millennials are
transforming the
workplace
PG 14
How to recruit and
retain millennials
PG 15
Millennial employees
understand millennial
consumers
Chapter4
PG 16
The technology
preferred by
millennials
PG 17
Keep millennials
connected to your
business
PG 17
Millennials expect
multichannel
engagement
PG 19
Five steps to win the
millennial consumer
Conclusion
PG 20
Millennials are
evolving the industry
The impact of
technology on the
insurance industry
PG 21
Works cited
2
WHY MILLENNIALS MATTER

3. MILLENNIALS AND THEIR IMPACT
ON THE INSURANCE INDUSTRY
The fastest-growing generation of consumers and
employees is millennials. Individuals born between
the years of 1980 and 1996, they are the focus of
news coverage, political campaigns, marketing
discussions and employment postings. Millennials
have captivated the consumer marketplace and are
becoming the workforce of the future.
As millennials proliferate as customers, business
partners and employees, they bring their own
unique set of values and expectations to the market.
For insurance agencies, the rise of millennials
requires a strategy in the way they attract, serve
and retain this younger generation.
INTRODUCTION
POWER IN NUMBERS
Millennials are currently
the largest generation:
76.6million
Millennial purchasing power:
$1.68trillion
Average household income
of a millennial:
$60,000
Source: CEB Iconoculture Consumer Insights Fast
Facts (2013) US Census Bureau, October 20131
WHY MILLENNIALS MATTER
3

4. 4
WHY MILLENNIALS MATTER
EXECUTIVE SUMMARY
Todays, agents must learn to meet millennial
expectations and demands with innovative
technology, but also remain a trusted advisor.
An independent survey and millennial agent
interviews provide insight into how the millennial
generation is shaping the insurance industry,
not only as new employees in the workforce,but
also as one of the fast-growing demographics
of consumers purchasing insurance.
The following report discusses the results
of the survey and includes interviews with
leading millennial agents, examining both
the millennial consumer and employee.
How millennials
research and
purchase
property and
casualty (PC)
insurance
Millennial
concerns and
behaviors
regarding the
insurance
industry
Technologies
that enable the
independent
agent to reach and
connect with these
consumers
The evolution
of the insurance
agency as
millennials
proliferate in
the workplace
REPORT INCLUDES:

5. 5
WHY MILLENNIALS MATTER
Millennials navigate
seamlessly between
devices
Always connected,
millennials send
upwards of 100
texts a day
80%of millennials visit
social media sites daily
and more than half use
mobile devices to do so
An online search is
the first stop to finding
a solution for 71%of
millennials
Once they go online
for support, millennials
expect a resolution
within 80 hours
Millennials are 2.5 times
more likely to be early
technology adopters
than older counterparts
MOST NOTABLY, MILLENNIALS ARE TRUE DIGITAL NATIVES, AND
TECHNOLOGY AND SOCIAL NETWORKING ARE INHERENT TO THEIR NATURE.
ACCORDING TO THE YAYA CONNECTION:3
Millennials are transforming how insurance
agencies operate, from how to market their
products and services to providing multichannel
client touch points. The millennial generation
includes approximately 80million individuals
born after 1980 and has surpassed the
Baby Boomer generation in size. They use
mobile devices morethanany other generation
and are constantly connected to the world
around them.
What is the millennial generation?
Also referred to as Generation Y or the
YAYA demographic, millennials have strong
opinions, demandsandhighexpectations of
all businesses, including their employers.
They will have a great deal of influence on
the profitability of insurance agencies now,
and for years to come.
WHO ARE MILLENNIALS
AND WHY DO THEY MATTER
TO YOUR BUSINESS?
CHAPTER 1
38%
ARE BILINGUAL
HAVE A
BACHELOR’S
DEGREE OR
MORE, MAKING
THEM THE MOST
EDUCATED
GENERATION
MILLENNIALS
LIVE IN URBAN
ENVIRONMENTS,
DISAVOWING
THE SUBURBAN
PICKET-FENCE
MYTHOLOGY
ONLY 21%OF
MILLENNIALS
ARE MARRIED1IN 4
BOOMERS
WERE MARRIED
AT THEIR AGE
42%OF
Demographic Statistics
Concerning U.S. Millennials
(Nielson Research, February 2014)2

6. 6
WHY MILLENNIALS MATTER
Millennials: A challenge and opportunity
for agencies
As buyers and sellers in the insurance
industry, millennials present a new challenge
to independent agencies with their unique
characteristics, attitudes, preferences and
appetite for digital technology. As a historically
conservative industry, insurance agents often
experience a generational gap when dealing
with millennial consumers. But understanding
how they think, work and purchase differently
from previous generations will allow insurance
agents to leverage their unique influence as
millennial numbers continue to grow.
Millennials grew up during the height of
globalization of the Internet and expansive
developments in communications technology.
They have also come of age during
unprecedented shifts in business, political
and cultural norms and the rise of social media.
To be successful in servicing this generation,
insurance agents must offer multichannel
service and product options.
“ By 2020, Millennials will comprise more
than one of three adult Americans. It is
estimated that by 2025 they will make up
as much as 75%of the workforce.
” Morely Winegrad
Senior Fellow
University of Southern California5
How millennnials communicate their
opinions about services, products
and brands:
(Source: Goldman-Sachs)4
44%
Text
Message
38%
16%
38%
Instant
Messaging
Blogging
Social Media

7. WHEN WORKING WITH THIS GENERATION, INSURANCE AGENTS,
BROKERS AND CARRIERS CAN EXPECT THE FOLLOWING:
“ Millennials grew up in an expanding world
of choice and options for just about everything
they ever needed or wanted. Because of this,
they view life very differently.
” Katie Elfering
Consumer Strategist
CEB Iconoculture
Millennials want to
make a difference
They intend
to make an
impact on
their world
As employees,
they ask
for more
responsibility
sooner than
expected
As consumers,
they look for
brands and
businesses
that make a
difference
They share
their opinions
and are a
key part of
marketing
strategies
Millennials
look to friends
and family for
referrals and
opinions via
text and
social media
Opinions go
both ways
with positive
and negative
testimonials
Millennials are
digitally connected
They bring
collaboration
and positivity
Millennials
have been
conditioned
to multitask
They focus
on their goals
and work hard
from a very
young age
Teamwork
comes naturally
to them
Millennials bring focus
and energy to their job
7

8. 8
WHY MILLENNIALS MATTER
Millennial survey: Strike a balance between
technology and trusted advisor
Millennial consumers are attracted to insurance
companies that provide the client-centric
experience they have become accustomed to
with other industries and businesses. However,
millennials still highly value an in-person or
over-the-phone experience with an agent.
Applied Systems sponsored a survey
conducted among a sample of 1,000
adults between the ages of 18 and 34.6
The findings illustrate how respondents
shop for insurance coverage and interact
with their insurance companies.
Millennials split their auto insurance purchases between
in-person, online and telephone sales. Independent
agents must have an effective online presence, or
they stand to lose a large segment of the market.
These results also indicate that the role of the agent
as ”trusted advisor” is still critically important, and face-
to-face interactions are still sought out by millennials.
FINDINGS
1,000 SURVEY RESPONDENTS HAD:
91%
SOME FORM
OF PC
INSURANCE
COVERAGE
89%
AUTO
INSURANCE
55%
HOMEOWNERS
42%
RENTERS
UNDERSTANDING
THE MILLENNIAL CONSUMERCHAPTER 2
89% OF MILLENNIALS
SURVEYED
HAD
AUTO
INSURANCE
37% OF THOSE
PURCHASED
IN
PERSON
35% OF THOSE
PURCHASED
ONILNE
25% USED
THE PHONE

9. 9
WHY MILLENNIALS MATTER
Millennials are social by nature
and referrals weigh heavily in their
buying decisions. More than half
of these respondents asked family
and friends for insurance advice,
followed by reviews of social
media sites to compare with their
recommendations. In fact, according
to an Edelman study, 74%of
millennials believe they influence
the purchasing decisions of those
aroundthem.7
It isimportant
for agencies to have a strong
presence on digital channels and
social media to provide education,
thought leadership and product
information to reach millennial
consumers.
FINDINGS
REFERRALS: The key to selling homeowners insurance
HOMEOWNERS:
Which communication channels do you use to
interact with your current insurance provider?
Which communication channels
would you prefer to use?
50%
BY REFERRAL
27%
ONLINE SEARCH ENGINE (E.G., GOOGLE, YAHOO)
20%
ADVERTISEMENT
13%
ONLINE REVIEW SITE (E.G., YELP, ANGIE’S LIST)
28%
IN PERSON
18%
MOBILE APP/TEXTING
37%
ONLINE
67%
CALLING DIRECT
34%
IN PERSON
29%
MOBILE APP/TEXTING
49%
ONLINE
65%
CALLING DIRECT
8%
OTHER
12%
STOREFRONT
“
Rather than relying
exclusively on social
media and online sources,
millennials tell us that
they look for face-to-face
advice from people they
trust, and who listen to
them, particularly family
or a family-referred
professional.
” InsuranceNewsNet
9

10. 10
WHY MILLENNIALS MATTER
“
You must have a strong
online presence to build
trust and credibility with
clients and prospects. Our
website is ideally
suited to increase and attract
new business. In fact, our
conversion rate quadrupled
when we redid our website,
with400%more visitors
filling out forms.
” Karyn Roeling
Principal/Owner
Seibert Insurance Agency
WHY MILLENNIALS MATTER
70%
survey
respondents
feel
24/7
customer
service is very
important
Most millennials prefer to interact
with their insurance agent by
telephone. However, there is a
growing demand for digital
channels, and millennials have
an appetite for online service
technology and mobile access
to agents. On-demand, digital
service is very important and
most consumers would switch
insurance providers for access
to better online service.
FINDINGS
10

11. 11
WHY MILLENNIALS MATTER
According to the U.S. Bureau of Labor Statistics
and AARP, within 15 years as much as 50%
of the current insurance workforce will retire.
With a segment of the workforce on the verge
of retirement, independent agencies need to
recruit a new generation of talent. But to do that,
millennials need some convincing that insurance
is an innovative and rewarding career to consider.
The perception among some rising young
professionals is that insurance is suited more for
an older workforce, while others have little or no
familiarity with the industry.
A NEW GENERATION
FOR INSURANCECHAPTER 3
within
15 years
50%
of the current
U.S. workforce
will retire
Turning millennials toward insurance
While there can be some reluctance by millennials to pursue
an insurance career, independent agency employers can
make a strong case with these 3points:
1 Insurance is evolving with technology: Insurance
businesses are incorporating modernized technology
that transforms their operations.
2 Insurance is driven by service: The insurance industry
serves an important common good by protecting
insureds’ assets.The fundamental purpose and promise
of the insurance industry – to protect what matters
most – is synonymous with the interests of millennials,
who want meaningful careers that serve others.
3 Insurance is a sustainable industry: In an uncertain
economy, insurance has longevity on its side and
offers security in the fluctuating job market.
not at all
familiar
not too
familiar
somewhat
familiar
very
familiar
%
42%
36%
17%
5%
MILLENNIAL
FAMILIARITY WITH THE
INSURANCE INDUSTRY
Source: The Institutes, Millennial Generation Report8

12. 12
WHY MILLENNIALS MATTER
Millennials are transforming the workplace
With the influx of millennial employees,
insurance organizations are changing the way
they do business. Millennials will make up as
much as 75% of the U.S. workforce by 2025.
From implementing technology that creates
efficiencies, to marketing their offerings in new,
more inventive ways, this new generation is
changing the way insurance companies operate.
Not only will millennials reshape work
processes within the agency, but they will
also influence how products should go to
market, improve client service, and expand
multichannel communication efforts.
They will also know the marketplace better,
as it’s comprised of their peer group.
“Insurance is an entrepreneurial industry, so there’s
no income ceiling or no earning limit for a younger
generation entering the insurance workforce today.
They will find a great deal of opportunity to generate
a substantial income and make a difference in the
lives of the insured, which is a nice balance.
” Brooks Ziegler
producer
Morris Templeton
Insurance Agency, Inc.
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Millennials will
make up as much
75%
of the
U.S. workforce
by 20259
“
Insurance is an entrepreneurial industry, so there’s no income ceiling
and no earning limit for a younger generation entering the insurance
workforce today. They will find a great deal of opportunity to generate
a substantial income and make a difference in the lives of the insured,
which is a nice balance.
” Brooks Ziegler
Producer
Morris Templeton Insurance Agency, Inc.

13. “We did a lot of research on what millennials look for
in careers and found the top four to include flexibility,
opportunity, giving back and working in an area they
have a personal interest.
”
Jennifer Robinson
Program Director
InVESTMILLENNIALS TOP 4 CAREER GOALS:
give
back
work in
personal
interest
areas
1 2 3 4
13
WHY MILLENNIALS MATTER
opportunityflexibility

14. 14
WHY MILLENNIALS MATTER
Adept on nearly any device, millennials
can communicate effectively —
use that to your company’s advantage
Flexiblehoursand
remoteworkoptions
tosatisfytheirneed
tobalancecareer
andpersonallife
Train them
to interface
with clients
and co-workers
14
Preparemillennials
Cast a
wider net
Recruitworkforce-
readymillennials,but
alsostudentswho
haveahistoryinSTEM
(science,technology,
engineeringand
mathematics)orthose
whoarepartofthe
InVESTprogram,
aschool-to-work
insuranceprogram
thatteamswithhigh
schoolandcollege
educatorstoprovide
ausefulinsurance
curriculum
for
students
WHY MILLENNIALS MATTER
Train them
to
interface with
clients and
co-workers
Capitilize on their
networking skills
They have an affinity to
network around the world–
fold this into your
marketing program
Close the
generation gap
Mentor seasoned staff members to
work with millennials, who can learn
from
their more experienced peers
Create a pleasing work environment
Providea
careerpath
Onethatgivesthem
room
to
grow
andenoughinternalmobility
tomaintaintheirinterests
Allow
them
to multitask
They excel at it and
become bored if
they don’t multitask
Utilize their tech literacy
Givethem
choices
HOW
TO
RECRUIT
AND
RETAIN
M
ILLENNIALS
Attracting millennials requires a different approach
comprised of best practices to streamline
recruitment and workforce training, including:

15. WHY MILLENNIALS MATTER
Millennial employees
understand millennial
consumers
Peer-to-peer sales and
service will become more
prevalent in the insurance
industry as the millennial
workforce grows simultaneous
to the millennial consumer
base. The advantage is that
they understand each other.
Both sides are highly
networked, andthey work
andcommunicate in the same
way. Millennials understand
how to market to other
millennials andappealtotheir
sensibilities.However, they
need to be highly educated
on the insurance industry and
informedto successfully service
the millennial consumer.
“It seems like a natural fit
for millennials to service
millennial insurance clients.
Such employees definitely
provide access to the social
and networking circles in
which they run.
” Jason Levine
Operations VP
Harry Levine Insurance
15

16. 16
WHY MILLENNIALS MATTER
THE TECHNOLOGY
PREFERRED BY MILLENNIALSCHAPTER 4
A common denominator among millennials
is the need to be constantly connected to the
world around them. Digital technology is an
integral part of their lives on a variety of devices
with numerous apps. Millennials are driven by
a need to integrate everything they do into
their own environment.
Millennials also want to stay connected to their
friends and co-workers at all hours, through
texting and social media. The ability to multitask
and share relevent information is essential to the
millennial’s productivity. To that end, consumer
technology is entering the workplace, and
there is strong demand for personal technology
to interact with corporate systems.
Millennials also
want to stay
connected to
their friends and
co-workers
24/7
of millennials
email, text and
check social
media before
they even get
out of bed
have a
Facebook
account
shop
online
Smartphones are the device of choice,
followed by laptops, then tablets.
Source: Cisco Connected World Technology Report10
90%
SHAREEM
A
ILADDRESSESTOGET
D
ISCOUNTS
57
%
90%
UPDATE
T
H
EIRSTATUSDAILY41
%
87%

17. 17
WHY MILLENNIALS MATTER
Millennials expect multichannel
engagement
The demand for convenient access to
information about products and services,
client accounts, and self-service transac-
tions is increasing. To meet this demand,
multichannel engagement allows various
ways for millennials to interact with inde-
pendent agencies —by phone, mobile
device, in person or through a highly
functional website.
Additionally, a strong mobile strategy
is needed for millennial consumers
who make purchases on their mobile
devices. But more importantly, the
millennial consumer’s experience
should be consistent, convenient and
personalized at every stage of their
buying or service journey.
Keep millennials connected to your business
Cloud technology: Drives greater
connectivity and collaboration among
customers and employees. Millennials gain
the access they are accustomed to and
agencies provide better customer service.
The entire workforce, from millennials to
boomers, benefits from the cloud.
Innovative applications: To increase
business productivity by freeing agents
to focus on servicing clients and selling
insurance, while allowing clients to
access their insurance information.
TWO POWERFUL SOLUTIONS ON THE
MARKET TODAY INCLUDE:
• Applied CSR24: The leading online
client self-service software designed to
allow your clients instant access to their
insurance information. Applied CSR24 offers
extended service hours and a self-service
portal, allowing digitally driven customers
to access insurance information 24/7.
• Applied MobileProducer: The first
independent agent mobile application
designed specifically for insurance
producers to access and manage their
client and prospect information via mobile
tablet devices. Applied MobileProducer
allows producers to stay connected to
client, policy and sales information while
in the field, using their mobile devices.
70%
OF SURVEY
RESPONDENTS
FEEL
24/7
CUSTOMER
SERVICE
IS VERY
IMPORTANT
76%
OF SURVEY
RESPONDENTS
FEEL THAT
HAVING ACCESS
TO INFORMATION
AND SERVICE
THROUGH A
MOBILE
APP
IS VERY
IMPORTANT

18. 18
WHY MILLENNIALS MATTER
1 Allows agents to respond
faster and more effectively
to client inquiries
2 Provides additional
client intelligence
3 Reduces operational costs
4 Fosters greater
collaboration between
agencies and carriers
5 Generates more
client loyalty
6 Increases sales and
profitability
6benefits of
multichannel engagement
18
“
Independent agencies and carriers should heed these
trends and reinvent their businesses. They should
become social businesses that engage with their clients
and offer them the relationships, insurance knowledge,
personal service and community participation that
they value.
” ACT Strategic Future Issues
Work Group of IIABA
2013 Key Trends Report

19. 19
WHY MILLENNIALS MATTER
“ Statistics show that more people go online to start the
shopping process and don’t want a sales rep until later in
the buying process. Having a web presence legitimizes your
agency, but it doesn’t replace the need for communication.
Millennials still want to be educated on their coverage
by a trusted professional.
” Jason Levine
Operations VP
Harry Levine Insurance
5 STEPS to win the millennial consumer
Survey results point to clear steps that agents can take to
attract and retain the ever-expanding millennial consumer
market. These steps include:
Be their
trusted advisor:
Be available
when they need
assurance in person
1 3 Update
your website:
Increase conversion
rates, capture more
customers, and have
a more prominent
online presence
4 Use a
cloud-based agency
management system:
Allow agents to
serviceclients anytime,
from anywhere with
an Internet connection
2 Engage
millennials with
technology:
Offer multiple
channels, including
online, phone, and
social media, which
also enhances your
credibility
5 Leverage
technology solutions:
Provide online self-
service capabilities
that make it easy
for millennials to
do business on
their terms
19

20. 20
WHY MILLENNIALS MATTER
MILLENNIALS ARE
EVOLVING THE INDUSTRY
CONCLUSION
Today, the millennial generation is shaping the insurance industry, not only as new employees
in the workforce, but also as one of the fastest-growing demographics of consumers purchasing
insurance. As buyers and sellers of insurance, millennials are influencing how the industry
operates and brings products to market.
The impact of technology on the insurance industry
To support the role of the trusted insurance
advisor, independent agencies are deploying
innovative technology solutions, including
cloud-based agency management systems,
online client portals, and remote-access
solutions. Offering multichannel engagement
through digital technology allows agents
to attract and retain millennials as clients
and employees.
By acting as a trusted advisor and providing
the technology millennials seek, independent
agents are building a technically savvy, well-
connected workforce, supported with robust,
modernized systems that attract and retain
the emerging millennial consumer base.
Understanding the values, work requirements
and purchasing habits of millennials enables
agencies to evolve their operations as this
generation continues to impact the industry.

21. 21
WHY MILLENNIALS MATTER
This eBook was prepared by Applied Systems, Inc.,
with research conducted by ORC International.
About Applied Systems
Applied Systems is a leading provider of software that powers
the business of insurance. Applied is recognized as a pioneer
in agency and brokerage management systems and data
exchange between agencies, brokers, carriers and their clients.
Automating the insurance lifecycle for more than 140,000
insurance professionals, 12,000 agencies and brokerages,
and 350 carriers worldwide, Applied enables millions of people
around the world to safeguard and protect what matters most.
About ORC International
ORC International is a collaborative and consultative research
partner to hundreds of organizations around the globe.
They possess a wide variety of resources, tools and technologies
to collect and analyze information for their clients. As a founding
member of the Code of Standards of the Council of American
Survey Research Organizations (CASRO) and a member of the
European Society for Opinion and Marketing Research (ESOMAR),
they adhere to a rigorous Code of Standards and Ethic for Survey
Research. ORC International is ISO 20252 certified.
© 2014 Applied Systems, Inc. All rights
reserved. This document is provided for
information purposes only. It is intended
to give timely, but general, information on
the subject matter covered herein, and
the contents of this document are subject
to change without notice. Prior results and
case studies mentioned in this document
do not guarantee a similar outcome on
any particular situation in the future. You
should consult with an attorney or other
professional service provider with respect
to how the matters discussed herein affect
and relate to your own business affairs. This
document is not warranted to be error-free,
nor subject to any other warranties or con-
ditions, whether express or implied.
Applied Systems and its affiliates specifically
disclaim any liability with respect to this
document and no contractual obligations
are formed either directly or indirectly
by this document. Any statements made
herein are not a commitment to deliver
any material, code or functionality, and
should not be relied upon in making
purchasing decisions, except as provided
for in a separate software license
agreement. The development, release,
timing and availability of any products,
features or functionality described herein
remain at the sole discretion of Applied
Systems and its affiliates.
All other names of products and
published works identified herein may be
the trademarks or otherwise proprietary
material of their respective owner.
Applied Systems, Inc.
200 Applied Parkway
University Park, IL 60484
800.999.5368
For more information visit
appliedsystems.com
1
Inside the Millennial Mind: The Marketer’s Handbook. CEB Iconoculture Consumer
Insights Fast Facts 2013.
2
Nielson: Demographic Stats About Millennials, prepared by MarketingCharts staff,
February 2014.
3
Connecting with Millennials, Cheryl Treleaven; Millennials in Motion (video),
YAYA Connection.
4
Proper Insights for Analytics Media Behavior and Influence Study. Goldman Sachs.
5
How Millennials Could Upend Wall Street and Corporate America, Morley Winogold,
Brookings May 2014.
6
Survey conducted by ORC International.
7
The Evolving Role of Brands for the Millennial Generation. Edelman Insights. 2014.
8
Millennial Generation Attitudes About Work and The Insurance Industry, The Institutes.
9
How Millennials Could Upend Wall Street and Corporate America, Morley Winogold
Brookings. May 2014.
10
Gen Y Technology Report.: New Dawn for Work, Play and Identity,
Cisco Connected World Technology Report.-
MILLENNIALS ARE
EVOLVING THE INDUSTRY
CONTRIBUTORS

22. Applied Systems, Inc.
200 Applied Parkway
University Park, IL 60484
800.999.5368
For more information visit
appliedsystems.com
© Copyright 2014 Applied Systems