Why Millennials Want to Move into the Insurance Industry

Insurance may be soon become a trendy job for millennials. According to a survey by Vertaforce, working millennials were looking to enter the field of insurance for the following reasons.

Work/Life Balance

One of the biggest reasons that 81 percent of current millennials working in insurance wanted to stay the course was because they saw excellent work/life balance. Being able to have this balance is an increasing demand, and millennials are looking to take jobs in fields where it is available. While there is a lot of work to be done, hours are generally flexible and there’s a great many opportunities for growth.

There’s also a great sense of accomplishment being able to provide a legitimate service to people, and it is very easy to take pride in your work.

Financial Stability

There is strong financial stability in the insurance industry. Unlike some fields, insurance does not seem to be going anywhere anytime soon. As long as people have a need for insurance, the industry will stay around. Plus, with annual incomes ranging from $35-62k, it is no wonder why the industry has been attracting many young professionals.

Career Growth

While most careers have set ladders and pathways, insurance may be one of the quickest ways to move up any sort of employment chain. Over 25 percent of the industry will be retiring by 2018, and by the year 2020 millennials will make up over 50 percent of the insurance workforce.

While millennials begin to make their way into this industry, check out these 5 tips for hiring new insurance agents.

One Reply to “Why Millennials Want to Move into the Insurance Industry”

  1. Toni O. King

    Dearest Bshuttle,
    With all due respect – this is one big naïve story, which asks for research by the author. The insurance industry as a whole is in some of the most turbulent storms one can think of. The entire industry is in a break up, as disruptive entrants are setting the agenda with such new food on their menu cards, so that the vast majority of incumbent insurance players are not even able to utilize their footprint in the market to follow suit – mostly due to the major part of the insurer’s complete lack of integrity in their operations. Their only counterstep possible would have been to make use of their decade long trust from their clients in their integrity, ethical operations and friendly customer care. None of the troubled insurers have this playing card at hand.

    So I would recommend anyone who contemplate entering into this industry to think not only twice, but thrice. The entire industry is in uproar. Only very very few of the incumbent insurers enjoy these three valuable benefits of their in more than one way historical way of treating their customers.
    So. Be warned.
    Warm regards


Leave a Reply