Since Millennials get much of their information from the internet, insurance carriers have a huge opportunity to build relationships with this generation by educating them. Maintaining an active business blog is a way that insurance carriers can share useful, value-added information with insureds to make them aware of how to protect their properties. Also, regularly publishing high-quality blog content will allow insurance carriers to create freshly indexed pages on their websites, which will benefit their search strategies.
Millennials Value Relationships with Brands
Insurtech companies are capitalizing on the Millennial generation’s digital tendencies by offering insurance through mobile apps. Generally speaking, Millennials appreciate convenience and speed, and Insurtech companies are able to deliver both by using a mobile app to provide insurance solutions and pay claims within a matter of seconds. However, while this streamlined process is very appealing to Millennials, it does little to build relationships.
Making a property inspection part of the underwriting process is an effective way for insurance carriers to accurately assess risk. While some insurance carriers are choosing to rely strictly on data to make underwriting decisions, it’s important to remember that an in-person property inspection is also a way to build relationships with insureds.
Despite what you hear, brand loyalty is far from dead with the Millennial generation. While Millennials make many of their purchases online, research shows that 28 percent of this generation seek face-to-face interaction with brands that they do business with.
How Insurance Risk Services Can Help You Build Relationships with Millennials
Our team of seasoned professionals at Insurance Risk Services has been partnering with insurance carriers for more than 35 years to provide in-person property inspections. We represent the insurance carrier when we conduct a property inspection, and from the insured’s point of view, we are the face of your company.
Conducting an in-person property inspection gives us valuable face time with the insured and provides us with an opportunity to educate him or her about potential risks with the property. During these conversations, we’re also able to identify other areas that insurance carriers can serve the insured.
In today’s competitive environment, insurance carriers need to be using in-person property inspections to more accurately underwrite risk and build relationships, particularly with the Millennial generation.
Contact us at Insurance Risk Services to learn more about how you can add value to insureds and your bottom line through thorough property inspections.