Auto insurance companies consider them to be a higher risk than those living on their own. Millennial motorists who still live at home with their parents pay higher car insurance rates than their counterparts who don’t, say the results of a new study. Millennials who own houses or condos tend to pay notably less for their auto insurance coverage. The higher car insurance premiums study was conducted by Compare.com. It determined that millennials who live with their parents pay considerably higher car insurance premiums than their home owning counterparts. In…
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Millennials continue to be a top insurance industry challenge
Insurers struggle to appeal to a vital generation both in terms of employment and as customers The insurance industry challenge regarding millennials continues as insurers continue to try to sell to that generation. This, on top of the struggle already faced in selling to consumers within that age group, the industry isn’t successful in drawing them to fill jobs, either. Employment in the insurance industry presents a considerable opportunity to graduating college students. That said, a top insurance industry challenge is relaying the appeal of this type of career. The…
Read MoreInsurance industry has trouble engaging millennials
Insurers find it difficult to connect with a new generation of consumers The insurance industry has been providing coverage across a wide variety of sectors for countless years, but never before in history have insurers had to deal with a generation of consumers that are obsessed with technology and their invincibility. Gallup conducted a survey recently highlighting the difficulty insurers are having with connecting with millennial consumers, those born in 1980 through 1996. These consumers have proven difficult to engage, which has left the insurance industry somewhat disconnected from this…
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