Insurance Boring? Not According to Millenials!

New survey suggests that millenials are finding their place in the insurance industry and are happy they did!

According to a recent Verafore survey of 4,000 insurance professionals in the U.S., the insurance industry is attracting millennials en masse – and those that have found their place in the industry love it and plan to stay.

Millenials - who are defined as those born between the years 1980 and 1997 for the intents and purposes of this survey - outnumber Baby Boomers and Gen Xers in the U.S., as well as in Canada, and are now the biggest generation making up our workforces.

While these results come to us from the U.S., they are encouraging statistics that we like to think mirror the changing opinion of the insurance industry in Canada as well.  And with 28% of our industry’s workforce set to retire within the next 8 years, attracting and retaining millennials is critical to securing a bright and prosperous future for the industry.

Millenials working in the industry said the things they liked most about working in the insurance industry was that it allowed them to help people, while building a long lasting, financially secure career for themselves.

 85% of those polled said they felt optimistic in the industry’s ability to evolve and attract the next generation of top talent and 70% said they would recommend the industry to a friend.

Financial stability, work/life balance and opportunity for career growth were cited as the main factors influencing millennials to stay in the industry, with 81% of respondents saying they planned to remain in the industry for as long as possible.

These results reinforce the message that Career Connections is passionate about spreading – the insurance industry provides exciting, stable and rewarding careers!  Are you ready to find your place in insurance?

Take our quiz and get started today!