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Millennials Set the Expectation for Service

Photo on 2010 05 05 at 12.34 150x150 Millennials Set the Expectation for Service

Rick Gilman, Executive Director

I recently read an article in the Wall St. Journal about how teenagers are building traditional summer-time jobs into not-so small businesses. The kids down the block washing cars or mowing lawns for the summer to earn some spending money are now your newest entrepreneurs.

Who’s the Boss? When Jobs Are Scarce, the Kids Are got me thinking about the fact that more and more small businesses are being owned and run by 20 and 30 somethings. While the independent agency system already is succeeding in the commercial lines market, to fully realize similar growth in the personal line business, we must understand who’s in control of the service and product demands. Those same up and coming business owners are the same homeowners and auto owners that you’re prospecting for their personal lines business.

Recognizing the similarities in personality between the young business owner and the Millennial that bought their first home or condo might help you apply similar relationship tactics when you go after the personal lines business.

There are a number of paths to success in personal lines and one obvious one should be through your existing commercial lines customers. Start with going after the key personnel in the businesses you currently write to sell home owners, auto, personal umbrella and the like. Then once you’ve proved the quality of your personal lines products and services, talk to the “powers that be” about possible payroll deduction programs or about doing a presentation to staff much like 401k savings plans do to encourage enrollment.

What other pathways to profits do you use? Join the conversation and share your thoughts.

 

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