People born during different periods fall into unique categories. For instance, baby boomers consist of individuals born between 1946 and 1964. So, there are a lot of baby boomers, most now reaching retirement age.
Then, there’s Gen X, which came after baby boomers but before millennials. These individuals have birthdates that fall between the latter part of the 1970s and the early 1980s. After Gen X came millennials, also referred to as Gen Y. The birth years for these people are between 1981 and 1996.
There’s one more demographic that’s important: Gen Z. Often called “Zoomers,” this category includes people born between 1997 and the early part of the 2010s. That means, currently, Gen Z people are between the ages of six and 24. So, what does the Gen Z generation have with insurance agencies? Well, quite a bit.
As you know, time passes quickly. It won’t be long before more of these individuals start to drive, work, and buy homes. That’s when they’ll need quality insurance coverage. As an independent insurance agent, you have to look at success as both short- and long-term goals. That means you still need to provide your current clients with exceptional service and products but also prepare for the up-and-coming Gen Z.
The other thing to remember is that most Gen Z individuals were born to people in the Gen Y category. More than likely, the agency has a lot of Gen Y as clients. Providing an incredible service to those adults could have an effect on how well your agency connects with their children.
The Value of a Cutting-edge Insurance Agency Management System
All of this is why it’s so critical to implement a top-of-the-line insurance agency management system into your operations. Selecting one that’s scalable to your agency’s growth but also capable of retaining accurate data plays a huge role in how you approach the Gen Z demographic down the line.
Here’s an example. Say you have a wonderful client born in 1982. That individual now has a 10-year-old child, making him or her Gen Z. Inputting accurate information into the system about the client, including data on family members, can help tie everything together.
When that child needs to buy insurance, you’ll already have an advantage in the connection to the parent and by knowing their name.
Further Preparing Your Agency
Using the right insurance agency management system is just one piece of the puzzle. Since many people in the Gen Z category will become adults in no time, everyone in your business needs to understand their ideologies, goals, and even communication style.
In reality, Gen Z individuals are part of a unique culture. As someone who sells insurance, your focus is on retaining clients, not losing them. So, unless you get a handle on what Gen Z individuals are all about, that’ll become a huge challenge.
The key to getting Gen Z individuals interested in what your insurance agency can offer is to use methods and technologies they find attractive. Rather than wait a few years to get started, this is something you should do now. This generation is smart and savvy. As such, they pay close attention to the decisions made not only by their parents but by others as well.
As an example, if the agency isn’t up to date from a technical perspective, it’s time to invest in cutting-edge solutions. Along with a superior insurance agency management system, that includes options for sending messages, photos, videos, and documents digitally and easily.
It’s also about marketing products differently. That means coming up with a plan that adult prospects, current clients, and individuals in the Gen Z category will find compelling.
Among people in the Gen Z category, one word stands out: authenticity. These people aren’t interested in watching cheesy commercials with animated figures, a funny dressed gecko, or a talking duck. If an insurance agency is going to get their attention, it’s important to find authentic and genuine ways to accomplish that.
For this demographic, authenticity, excitement, and energy is what it’s all about. So, the ideal time to start getting agents trained is now. As stated, people who fall in the Gen Z category pay close attention to just about everything. Although these young people aren’t old enough yet to buy coverage, they’re watching what they see about the insurance industry.
There’s no time like to present to start making changes that’ll attract the Gen Z demographic in just a few years. That includes implementing a state-of-the-art insurance agency management system and website for both current and future clients.
Also, everyone in the agency needs to get a good handle on how these young individuals think and respond. With that, they can start to formulate a plan to capture and retain their attention. Steer clear of ridiculous advertising and marketing strategies, opting instead for something that’s exciting, new, and authentic.