Millennials want to work with insurance agents, a new survey finds

Cautious millennial business owners are more likely than other generations to work with insurance agents on a wide variety of insurance issues. According to Nationwide’s Business Owner Survey, 69% of Millennial business owners work with an insurance agent, followed by Boomers at 66% and Gen X at 59%. The most common reason for working with an insurance agent among all generations is the trust of an agent.

Other key findings from the survey show:

  • Guidance and expertise (41%) are the driving forces behind the agent relationship, more so than considerations such as level of coverage (25%) and efficiency (23%);
  • While trust and guidance are reasons for having an agent, reputation ranks No. 5 on the list of reasons provided by the survey.

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