How to Sell Insurance in a Multi-Generational Industry?

Agency Height
3 min readMar 5, 2020

“The Customer is King” is a defining principle of the insurance industry. Now more than ever, the customer has high purchasing power due to fierce competition among insurers. Agents need to understand the different types of customers who make up their market.

There are five distinct generations of people co-existing in the insurance industry. Agents have to understand the traits and needs of the different generations in order to know how to sell insurance to them. Agents who understand their target market are better able to provide individualized service.

The Deciding Generations:

Out of the five generations that exist, Millennials and Generation Z are the two newest generations. All the other ages have been in the market for a long time, and agents are familiar with them.

The new generations can also be termed as the deciding generations as they make up the present and future of the industry.

The Millennials

The millennials are the generation that grew up in a tech-savvy world. They have a preference for ideas that are less time consuming. This generation is generally managing education and work at the same time. Between the high costs of rent, student loans and other bills, millennials usually have little left over for an expensive insurance policy. Many agents are confused as to how to sell insurance to this generation without making them feel the burden.

The trick here would be to provide cost-saving and efficient options for this generation. Also, peer references are held in high esteem by this generation. Hence, inviting satisfied customers to write online recommendations is a smart move.

Generation Z

Generation Z is the generation after the millennials. According the Business Insider, generation Z will bring a cultural shift to many business industries in the future. This generation will appreciate quality customer service from their agents more than past generations and want customized products. This generation is yet too young to be purchasing individual policies. However, counseling and marketing can help persuade them as to the importance of having insurance coverage. Also, plans that allow them to start saving from right now and onwards will be a win-win for them.

Insurance agents need to learn how to sell insurance in such a manner that it is suitable for all generations.

We have listed a few tips here that will help agents in dealing with generation gaps:

  • Match policies to their appropriate generation: This will help you in knowing which type of insurance is more relevant to which generation.
  • Become tech-friendly: The current and upcoming generation are more tech-savvy and will appreciate their agent for being so too.
  • Customize: Customized plans will satisfy the customers with distinct needs.
  • Do not force: Trying to force the same policies onto people from different generations who have different needs will only make them less likely to buy from you.

Lastly, staying updated with changing trends is highly encouraged. Learning how to sell insurance is a never-ending process and you should go on with it.

“Keep learning and keep earning.”



Agency Height

Agency Height is an insurance blog that offers insurance agents content about the insights and queries of the industry to make their work more efficient.