View the slides to see the results from Vertafore's 3rd annual Millennials survey. This was the largest data set in the history of the survey with over 3,800 respondents providing feedback on millennials in the insurance industry. Millennials now outnumber baby boomers as America’s largest generation – so whether you are part of the millennial generation or just want to know how to tap into that hirable market, you're going to learn something from these results.

1. © 2016 Vertafore, Inc. and its subsidiaries.1
2016 Millennial Insights:
Building the Modern Agency
September 7, 2016

2. © 2016 Vertafore, Inc. and its subsidiaries.2
Agenda
1 Introductions
2 Defining generations
3 Millennials and social media
4 Millennials and technology
5 Millennials and insurance

3. © 2016 Vertafore, Inc. and its subsidiaries.3
Introductions
Marc McNulty, CIC
Vice Pres of Insurance Operations
The Uhl Agency
Lauren Crosby
Chapter Coordinator
NetVU

4. © 2016 Vertafore, Inc. and its subsidiaries.4
Introductions
Adam Stolly, CIC
Producer/Personal Lines Manager
Stolly Insurance Group
Ashley Rosborough, ACSR
Agency Manager, COO
J.T. Rosborough, Inc.

5. © 2016 Vertafore, Inc. and its subsidiaries.5
Defining generations
52 to 70 years old
Average age of
insurance professionals: 59
25% will retire by 2018
19 to 35 years old
34% of U.S. workforce in 2015
More than 75.4 million
1946 1965 1980 1997 2016
Baby Boomers Generation Y Generation ZGeneration X
Baby Boomers Millennials

6. © 2016 Vertafore, Inc. and its subsidiaries.6
Millennials and social media1

7. © 2016 Vertafore, Inc. and its subsidiaries.7
Millennials and social media
61% use more
than once daily
Up 10% from
last year
23% use it more
than once daily
41% use it at
least once daily
Personal use

8. © 2016 Vertafore, Inc. and its subsidiaries.8
Millennials and social media
0
10
20
30
40
50
60
Brand
awareness
Professional
development
Lead
generation
Customer
support
Customer
retention
Search for
new jobs
Hire/recurit
employees
For what purpose do you utilize social media in
your professional role?

9. © 2016 Vertafore, Inc. and its subsidiaries.9
Millennials and technology2

10. © 2016 Vertafore, Inc. and its subsidiaries.10
Millennials and technology
0
10
20
30
40
50
60
70
80
90
Desktop Smart phone Management
system
Laptop Tablet CRM Smart watch
What technology do you utilize in your role?

11. © 2016 Vertafore, Inc. and its subsidiaries.11
Millennials and technology
2X
Millennials are twice
as likely as baby
boomers to share
data for discounts or
benefits
86%
Percentage of
millennials who say
technology increases
efficiency and ability
to stay competitive
Millennials ranked
technology as
important or very
important to staying
in the industry
85%

12. © 2016 Vertafore, Inc. and its subsidiaries.12
Millennials and insurance3

13. © 2016 Vertafore, Inc. and its subsidiaries.13
Millennial outlook

14. © 2016 Vertafore, Inc. and its subsidiaries.14
Millennial outlook
85% of millennials ‘optimistic’ or ‘very
optimistic’ the insurance industry will
evolve to attract the next generation
of talent
70% of millennials would recommend
a career in insurance to their friends

15. © 2016 Vertafore, Inc. and its subsidiaries.15
Millennial outlook
81% of millennials plan on staying
in the industry as long as possible,
up 5% from 2015

16. © 2016 Vertafore, Inc. and its subsidiaries.16
Millennial outlook
70
72
74
76
78
80
82
Financial stability Work/life balance Career growth
Rate each of the following based up importance
to staying in the insurance industry.

17. © 2016 Vertafore, Inc. and its subsidiaries.17
Millennial outlook
25% of the industry is
expected to retire by 2018
By 2020, millennials will make
up more than 50% of the
entire US workforce

18. © 2016 Vertafore, Inc. and its subsidiaries.18